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Note 6 - Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Assets Held for Sale and Property, Plant, and Equipment Disclosure [Text Block]

6. PROPERTY, PLANT AND EQUIPMENT, NET

Property, Plant and Equipment

The Company’s property, plant and equipment, net consisted of the following (in thousands):

	*Estimated*
	*Useful Life*	*December 31,*
	*(years)*	*2023*			*2022*

Liquefaction plants and systems	10 - 15	$	48,523		$	47,636
Real property and buildings	3 - 25		2,066			2,057
Vehicles and tanker trailers and equipment	2 - 10		49,689			52,647
Computer and office equipment	2 - 7		458			470
Construction in progress	—		9,879			527
Leasehold improvements	—		31			31
			110,646			103,368
Less: accumulated depreciation			(61,167	)		(55,699	)
		$	49,479		$	47,669

Depreciation expense for the years ended December 31, 2023 and 2022 totaled $7.9 million and $8.7 million respectively, of which all is included in the Consolidated Statements of Operations as its own line item.

In October 2023, the Company’s insurance carriers settled with the Company with respect to certain assets that were damaged in a fire in June of 2023. The damages did not adversely impact the Company’s operations and were covered under the Company’s insurance policies less the policy deductible. The insurance proceeds received totaled $1.4 million including the reimbursement of site remediation and clean up expenses incurred by the Company. At December 31, 2023, the assets are written off and the corresponding gain of $1.0 million is included in gain from disposal of fixed assets within the Company’s Consolidated Statements of Operations, and the proceeds received are reported as investing activities within the Company's Consolidated Statements of Cash Flows for the year ended December 31, 2023.

Construction in progress of $9.9 million at December 31, 2023 primarily relates to the purchase of additional liquefaction assets.