| Property and Equipment |
(7) Property and Equipment Property and equipment, net consisted of the following items: | | | | | | | | | | | | | | | | (Unaudited) | | | | Estimated | | December 31, | | June 30, | | (in thousands) | | Useful Lives | | 2025 | | 2026 | | Land | | n/a | | $ | 29,435 | | | 30,238 | | Gathering systems and facilities | | 40-50 years (1) | | | 3,197,948 | | | 3,588,608 | | Permanent buried pipelines and equipment | | 7-20 years | | | 651,286 | | | 835,774 | | Surface pipelines and equipment | | 1-7 years | | | 161,751 | | | 186,638 | | Heavy trucks and equipment | | 3-5 years | | | 4,413 | | | 4,413 | | Above ground storage tanks | | 5-10 years | | | 5,481 | | | 7,445 | | Other assets | | 3-20 years | | | 8,389 | | | 8,946 | | Construction-in-progress | | n/a | | | 141,233 | | | 98,071 | | Total property and equipment | | | | | 4,199,936 | | | 4,760,133 | | Less accumulated depreciation | | | | | (745,364) | | | (817,290) | | Property and equipment, net | | | | $ | 3,454,572 | | | 3,942,843 | |
(1) | Gathering systems and facilities are recognized as a single-leased asset with no residual value. |
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