| Summary of Property, Plant, and Equipment |
Property, plant, and equipment at June 30, 2026 and December 31, 2025 consisted of the following:
|
|
|
|
|
|
|
|
|
(in thousands) |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Depreciable property, plant and equipment |
|
|
|
|
|
|
Furniture and fixtures |
|
$ |
52 |
|
|
$ |
240 |
|
Vehicles |
|
|
981 |
|
|
|
886 |
|
Buildings |
|
|
1,191 |
|
|
|
388 |
|
Leasehold improvements |
|
|
6,044 |
|
|
|
2,076 |
|
Machinery and equipment |
|
|
72,897 |
|
|
|
29,162 |
|
Pipelines and pits |
|
|
64,106 |
|
|
|
3,768 |
|
Total depreciable property, plant and equipment, gross |
|
|
145,271 |
|
|
|
36,520 |
|
Accumulated depreciation |
|
|
(6,764 |
) |
|
|
(4,120 |
) |
Total depreciable property, plant and equipment, net |
|
|
138,507 |
|
|
|
32,400 |
|
Non-depreciable property, plant and equipment |
|
|
|
|
|
|
Land |
|
|
225,783 |
|
|
|
23,154 |
|
Construction in progress |
|
|
4,757 |
|
|
|
32 |
|
Construction deposit |
|
|
8,850 |
|
|
|
— |
|
Total non-depreciable property, plant and equipment |
|
|
239,390 |
|
|
|
23,186 |
|
Total property, plant and equipment, net |
|
$ |
377,897 |
|
|
$ |
55,586 |
|
|