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PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

NOTE 8—PROPERTY AND EQUIPMENT

Property and equipment consists of the following as of December 31, 2024 and 2023:

​

​	​	​	​	​	​	​
​	​	As of December 31,
​	​	2024			2023
​	​	(in thousands)
Machinery and equipment	​	$	581,566	​	$	608,780
Gathering and disposal infrastructure	​		309,854	​		87,354
Recycling facilities	​	​	115,227	​	​	68,875
Buildings and leasehold improvements	​		109,520	​		111,650
Pipelines	​	​	103,425	​	​	103,171
Land	​	​	39,960	​	​	23,745
Vehicles and equipment	​		13,870	​		19,007
Computer equipment and software	​	​	7,864	​	​	3,038
Computer equipment and software - finance lease	​		904	​		883
Machinery and equipment - finance lease	​		519	​		519
Office furniture and equipment	​		453	​		772
Vehicles and equipment - finance lease	​		14	​		27
Construction in progress	​		122,310	​		117,168
​	​		1,405,486	​		1,144,989
Less accumulated depreciation(1)	​		(679,832)	​		(627,408)
Total property and equipment, net	​	$	725,654	​	$	517,581

​

(1) Includes $0.9 million and $0.7 million of accumulated depreciation related to finance leases as of December 31, 2024 and December 31, 2023, respectively.

Total depreciation, amortization and accretion expense related to property and equipment and finance leases presented in the table above, as well as amortization of intangible assets presented in “Note 9—Goodwill and Other Intangible Assets” is as follows:

​

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​	​	2024		​	2023			2022
​	​	(in thousands)
Category	​	​	​	​	​	​	​	​	​
Depreciation expense from property and equipment	​	$	137,391	​	$	122,078	​	$	103,141
Amortization expense from finance leases	​	​	217	​	​	126	​	​	110
Amortization expense from intangible assets	​	​	17,079	​	​	17,873	​	​	11,350
Accretion expense from asset retirement obligations	​	​	2,260	​	​	1,012	​	​	1,115
Total depreciation, amortization and accretion	​	$	156,947	​	$	141,089	​	$	115,716

​

Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. See “Note 4—Abandonments and Other Costs” for impairment and abandonment of property and equipment during the years ended December 31, 2024, 2023 and 2022.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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