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Debt | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Debt | Debt The current portion of long-term debt consists of the following:
| September 30, 2023 |  | December 31, 2022
Oakdale Equipment Financing | $ | 4,220 |  |  | $ | 4,041 |
Notes payable | 1,273 |  |  | 1,782 |
Finance leases | 198 |  |  | 360 |
Current portion of long-term debt | $ | 5,691 |  |  | $ | 6,183 |
Long-term debt, net of current portion consists of the following:
| September 30, 2023 |  | December 31, 2022
ABL Credit Facility | $ | — |  |  | $ | — |
Oakdale Equipment Financing, net | 4,705 |  |  | 7,753 |
Notes payable | 1,618 |  |  | 1,594 |
Finance leases | 572 |  |  | 460 |
Long-term debt | $ | 6,895 |  |  | $ | 9,807 |
The follow summarizes the maturity of our debt:
| ABL Credit Facility |  | Oakdale Equipment Financing |  | Notes Payable |  | Finance Leases |  | Total
Remainder of 2023 | $ | — |  |  | $ | 1,160 |  |  | $ | 407 |  |  | $ | 82 |  |  | $ | 1,649 |
2024 | — |  |  | 6,889 |  |  | 1,290 |  |  | 257 |  |  | 8,436 |
2025 | — |  |  | 1,724 |  |  | 680 |  |  | 257 |  |  | 2,661 |
2026 | — |  |  | — |  |  | 622 |  |  | 246 |  |  | 868 |
2027 | — |  |  | — |  |  | 339 |  |  | 59 |  |  | 398 |
2028 and thereafter | — |  |  | — |  |  | — |  |  | 7 |  |  | 7 |
Total minimum payments | — |  |  | 9,773 |  |  | 3,338 |  |  | 908 |  |  | 14,019 |
Amount representing interest | — |  |  | (626) |  |  | (447) |  |  | (138) |  |  | (1,211) |
Amount representing unamortized lender fees | — |  |  | (222) |  |  | — |  |  | — |  |  | (222) |
Present value of payments |  |  |  |  |  |  | 770 |  |  |
Less: current portion | — |  |  | (4,220) |  |  | (1,273) |  |  | (198) |  |  | (5,691) |
Total long-term debt | $ | — |  |  | $ | 4,705 |  |  | $ | 1,618 |  |  | $ | 572 |  |  | $ | 6,895 |
ABL Credit Facility On December 13, 2019, the Company entered into a $20,000 five-year senior secured asset-based credit facility with Jefferies Finance LLC. The available borrowing amount under the ABL Credit Facility as of September 30, 2023 was $20,000 and is based on the Company’s eligible accounts receivable and inventory, as described in the ABL Credit Agreement. As of September 30, 2023, there were $1,000 in letters of credit outstanding under the ABL Credit Facility with $19,000 available to be drawn. As of September 30, 2023 and December 31, 2022, the Company was in compliance with all financial covenants. As of September 30, 2023, there were no outstanding borrowings under our credit facility. Oakdale Equipment Financing On December 13, 2019, the Company received net proceeds of $23,000 in an equipment financing arrangement with Nexseer. Substantially all of the Company’s mining and processing equipment at its Oakdale facility are pledged as collateral under the Oakdale Equipment Financing. The Oakdale Equipment Financing bears interest at a fixed rate of 5.79%. Notes Payable The Company has entered into various financing arrangements, primarily to finance heavy equipment purchases as well as its manufactured wellsite proppant storage solutions equipment. Upon completion of the equipment manufacturing, title to the subject equipment passes to the financial institutions as collateral. As of September 30, 2023, these notes payable bear interest at rates between 3.99% and 7.49%. On February 28, 2023, the Company purchased 5,176 shares of the Company’s common stock from Clearlake Capital Partners II (Master), L.P., an affiliate of Clearlake Capital Group (“Clearlake”), for $8,850, of which $4,425 was paid in cash and the remainder was financed through an unsecured promissory note, bearing interest of 10%, issued to Clearlake. This purchase represented all of the common stock previously owned by Clearlake and approximately 11.3% of the number of outstanding shares of the Company’s common stock as of immediately prior to the purchase. At the time of purchase, Clearlake was a related party to the Company, and José Feliciano, the Co-Founder and Managing Partner of Clearlake, remains on our board of directors.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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