Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2026

Property and Equipment

Schedule of Property and Equipment

Property and equipment as of June 30, 2026 and December 31, 2025 consisted of the following (in thousands):


		Useful Lives (Years)				June 30, 2026				December 31, 2025
Construction in progress			—			$	5,106			$	4,950
Plant and office buildings		10					29,639				21,291
Land			—				213				—
Tools, machinery and equipment		3 - 10					9,266				7,869
Computer equipment		3					725				332
Vehicles		5					1,348				828
Software		5					626				613
Office furniture		5 - 10					517				248
Leasehold improvements		Lesser of estimated useful life or the remaining lease term					437				114
Property and equipment, at cost							47,877				36,245
Less accumulated depreciation							(5,746	)			(2,954	)
Property and equipment, net						$	42,131			$	33,291

Summary of Natural Gas Properties at Cost

Natural gas properties at cost as of June 30, 2026 and December 31, 2025 consisted of the following (in thousands):


		June 30, 2026				December 31, 2025
Proved reserves		$	35,578			$	—
Unproved reserves			72,471				—
Wells in process			3,327				—
Developed Assets			24,039				—
Gas processing and liquefaction equipment (Virginia Gas Project)			19,444				—
Construction in progress			35,483				—
Rehabilitation Asset			3,607				—
Natural gas properties, at cost			193,949				—
Less accumulated depreciation, depletion and amortization			(987	)			—
Net capitalized costs		$	192,962			$	—