PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

5 – PROPERTY, PLANT AND EQUIPMENT

The Company's major classes of property, plant and equipment are as follows:


	As of
(in thousands)	March 31, 2026		December 31, 2025

Computers, office equipment and hardware	41		42
Furniture and fixtures	47		47
Machinery and equipment	44		44
Property, plant and equipment	132		133
Less: accumulated depreciation	75		71
Property, plant and equipment, net	$	57	$	62

For the year ended December 31, 2025, the Company recorded an impairment for the full value of its CIP assets. Prior to the impairment, the Company's CIP assets were comprised of capitalized development costs (which include costs associated with the FEED study) related to the Permian Basin Project, net of costs reimbursable by Cottonmouth in accordance with the JDA. See Notes 1, 4 and 7 for further information.