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Property and Equipment | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment is composed of the following.
| June 30, 2025 |  | December 31, 2024
Land | $ | 131,142 |  |  | $ | 134,738 |
Buildings | 161,857 |  |  | 160,282 |
Land and leasehold improvements | 153,272 |  |  | 152,091 |
Equipment | 211,518 |  |  | 213,800 |
Oil and gas properties | 157,661 |  |  | 156,849 |
Construction in progress | 1,251 |  |  | 672 |
| 816,701 |  |  | 818,432 |
Less accumulated depreciation, depletion, and amortization | (451,439) |  |  | (442,277) |
Property and equipment, net | $ | 365,262 |  |  | $ | 376,155 |
Depletion expense related to oil and gas properties was $5,966 and $4,227 during the first six months of 2025 and 2024, respectively. The Company recorded an impairment to restaurant long-lived assets related to underperforming stores of $1,251 in the second quarter of 2025. No impairment was recorded in the second quarter of 2024. The Company recorded an impairment to restaurant long-lived assets related to underperforming stores of $1,251 and $107 in the first six months of 2025 and 2024, respectively. We did not record any impairments to our oil and gas assets during the second quarter and first six months of 2025 and 2024. However, if commodity prices fall below current levels, we may be required to record impairments in future periods and such impairments could be material. Further, if commodity prices decrease, our production, proved reserves, and cash flows will be adversely impacted. Abraxas Petroleum recorded gains of $794 and $16,165 during the second quarter of 2025 and 2024, respectively, and recorded gains of $10,117 and $16,646 during the first six months of 2025 and 2024, respectively, as a result of selling undeveloped reserves. Abraxas may receive future royalties for each of these transactions as the reserves are developed by the respective unaffiliated parties. Property and equipment held for sale of $3,820 and $1,081 are recorded in other assets as of June 30, 2025 and December 31, 2024, respectively. The assets classified as held for sale include properties which were previously company-operated restaurants. During the first six months of 2025 and 2024, the Company recognized net gains of $807 and $2,909, respectively, in connection with property sales, lease terminations and asset disposals which are included in selling, general and administrative expenses in the consolidated statements of earnings.

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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 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -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 -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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