| Property, Plant, and Equipment |
3.Property, Plant, and Equipment Property, plant, and equipment at March 31, 2026 and December 31, 2025 consisted of the following:
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|
|
|
|
|
|
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(in thousands) |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Depreciable property, plant and equipment |
|
|
|
|
|
|
Furniture and fixtures |
|
$ |
240 |
|
|
$ |
240 |
|
Vehicles |
|
|
886 |
|
|
|
886 |
|
Buildings |
|
|
388 |
|
|
|
388 |
|
Leasehold improvements |
|
|
2,076 |
|
|
|
2,076 |
|
Machinery and equipment |
|
|
29,536 |
|
|
|
29,162 |
|
Pipelines and pits |
|
|
3,999 |
|
|
|
3,768 |
|
Total depreciable property, plant and equipment, gross |
|
|
37,125 |
|
|
|
36,520 |
|
Accumulated depreciation |
|
|
(5,272 |
) |
|
|
(4,120 |
) |
Total depreciable property, plant and equipment, net |
|
|
31,853 |
|
|
|
32,400 |
|
Non-depreciable property, plant and equipment |
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|
|
|
|
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Land |
|
|
23,151 |
|
|
|
23,154 |
|
Construction in progress |
|
|
101 |
|
|
|
32 |
|
Total non-depreciable property, plant and equipment |
|
|
23,252 |
|
|
|
23,186 |
|
Total property, plant and equipment, net |
|
$ |
55,105 |
|
|
$ |
55,586 |
|
All property and equipment are held and used in the United States. Depreciation expense for property, plant, and equipment for the three months ended March 31, 2026 and 2025 was approximately $1.2 million and $0.3 million, respectively.
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