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Inventory

12 Months Ended

Dec. 31, 2023

Our inventory, net of allowance for obsolescence of $4.0 million and $0.1 million at December 31, 2023 and 2022, respectively, consisted of the following:


	December 31,
	2023		2022
	(in thousands)
Inventory, net of allowance for obsolescence of $2,836 and $0, respectively	$	20,227	$	21,354
Work-in-process	1,412		2,060

Inventory current	21,639		23,414
Raw materials - long term (net of allowances of $1,168 and $120, respectively)	701		1,557
Inventory total	$	22,340	$	24,971

Our long-term inventory consists of raw materials that remain viable but which the Company does not expect to sell or use within the next year.

Inventory Allowance

We routinely review our inventory allowance balance to account for slow moving or obsolete inventory costs that may not be recoverable in the future. For the year ended December 31, 2023, our provision for excess and obsolete inventory totaled $4.0 million. The majority of this amount was due to a 2023 charge related to the company's decision to cease future compressor fabrication at our Midland facility, which reduced the expected future demand of certain inventory items held at this facility.

A summary of our inventory allowance is as follows:


	Year Ended December 31,
	2023		2022
	(in thousands)
Beginning balance	$	120	$	64
Additions	3,965		83
Write-offs	(81)		(27)
Ending balance	$	4,004	$	120