v3.26.1
Note 4 - Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

4. PROPERTY, PLANT AND EQUIPMENT

 

The Company’s property, plant and equipment at June 30, 2026 and  December 31, 2025 consisted of the following (in thousands):

 

  

June 30,

  

December 31,

 
  

2026

  

2025

 

Liquefaction plants and systems

 $57,480  $57,341 

Real property and buildings

  2,082   2,082 

Vehicles and tanker trailers and equipment

  49,227   50,316 

Computer and office equipment

  1,233   897 

Construction in progress

  23,698   14,946 

Leasehold improvements

  31   31 

Total

  133,751   125,613 

Less: accumulated depreciation

  (75,270)  (72,666)

Net

 $58,481  $52,947 

 

Depreciation expense totaled $1.8 million and $1.9 million for the three months ended  June 30, 2026 and 2025, respectively, and  $3.6 million and $3.7 million for the six months ended June 30, 2026 and 2025, respectively, all of which is included in the Condensed Consolidated Statements of Operations as a separate line item.

 

Construction in progress of $23.7 million and $14.9 million at  June 30, 2026 and December 31, 2025, respectively, primarily relate to the deployment and build-out of liquefaction assets and the purchase of additional liquefaction assets for the Company’s contract for power generation for a data center that begins in 2027 and its proposed Galveston LNG liquefaction facility.