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Debt
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt Debt
Current portion of long-term debt current consists of the following:
 December 31,
 20232022
ABL Credit Facility$8,000 $— 
Oakdale Equipment Financing6,462 4,041 
Finance leases238 360 
Notes payable1,011 1,782 
Current portion of long-term debt$15,711 $6,183 
Long-term debt consists of the following:
 December 31,
 20232022
Oakdale Equipment Financing$1,388 $7,753 
Finance leases542 460 
Notes payable1,519 1,594 
Long-term debt$3,449 $9,807 
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, which matures on December 13, 2024. The available borrowing amount under the ABL Credit Facility as of December 31, 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 December 31, 2023, there was $8,000 outstanding under the ABL Credit Facility, and $12,000 was available to be drawn. We use this facility primarily as a source for working capital needs. Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to an applicable margin, plus, at our option, either a LIBOR rate or an alternate base rate (“ABR”) as well as unused commitment fees. The applicable margin is 2.00% for LIBOR loans and 1.00% for ABR loans. Substantially all of the U.S. assets of the Company are pledged as collateral under the ABL Credit Facility. The ABL Credit Facility contains various reporting requirements, negative covenants and restrictive provisions and requires maintenance of financial covenants, under certain conditions, including a fixed charge coverage ratio, as defined in the ABL Credit Agreement. As of December 31, 2023, the Company was in compliance with all financial covenants. The weighted average interest rate on our ABL credit facility for the years ended December 31, 2023 and 2022 was 8.20% and 4.81%, respectively.
Oakdale Equipment Financing
On December 13, 2019, the Company received net proceeds of $23,000 in an equipment financing arrangement with Nexseer. The Oakdale Equipment Financing is legally comprised of an MLA and five lease schedules. The Oakdale Equipment Financing is considered a lease under article 2A of the Uniform Commercial Code but is considered a financing arrangement for accounting or financial reporting purposes and not a lease. Substantially all of the Company’s mining and processing equipment at its Oakdale facility is pledged as collateral under the Oakdale Equipment Financing. The Oakdale Equipment Financing bears interest at a fixed rate of 5.79%. The Company used the net proceeds to repay in full and terminate the previous credit facility, pay transaction costs, and the remainder was used for working capital purposes. The Oakdale Equipment Financing was originally set to mature on December 13, 2024. As a result of financial relief during the COVID-19 coronavirus pandemic in 2020, a portion of the Oakdale Equipment Financing maturity was extended to March 31, 2025. The Company has the right to prepay the financing and reacquire the underlying equipment on a lease schedule-by-lease schedule basis during the period commencing on the seventh month of the term and continuing until the 54th month of the term at a percentage of the purchase price of the relevant equipment, and at the end of the term at the fair market value of the equipment. The Oakdale Equipment Financing contains affirmative and restrictive covenants customary for transactions of this type.

Notes Payable
Notes payable primarily include various financing arrangements to finance the Company’s manufactured wellsite proppant storage solutions equipment and heavy equipment. In June 2020, the Company executed a note payable to defer certain near-term minimum royalty payments. All notes payable bear interest at fixed 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 substantially 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, was on our board of directors. As of December 31, 2023, the entire balance of the unsecured promissory note has been paid in full.
Finance Leases
See Note 9 - Leases for additional information about the Company’s finance leases.
Future minimum payments as of December 31, 2023 are as follows:
Year Ended December 31,ABL Credit FacilityOakdale Equipment FinancingNotes PayableFinance LeasesTotal
2024$8,000 $6,815 $1,094 $312 $16,221 
2025— 1,724 678 268 2,670 
2026— — 620 257 877 
2027— — 350 59 409 
2028 and thereafter— — — 7 7 
Total minimum payments8,000 8,539 2,742 903 20,184 
Amount representing interest— (514)(212)(123)(849)
Amount representing unamortized lender fees
— (175)— — (175)
Present value of payments780 
Less: current portion(8,000)(6,462)(1,011)(238)(15,711)
Total long-term debt, net$— $1,388 $1,519 $542 $3,449