Property and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands):

	Estimated
	Useful Life	September 30,		December 31,
	in Years	2022		2021
Tractors and trailers	5 – 6	$	131,214	$	106,558
Field equipment	2 – 5	24,489		22,851
Finance lease ROU assets (1)	3 – 6	21,583		22,349
Pipeline and related facilities	20 – 25	20,362		20,336
Linefill and base gas (2)	N/A	3,922		3,922
Buildings	5 – 39	16,163		16,163
Office equipment	2 – 5	2,928		2,060
Land	N/A	2,309		2,008
Construction in progress	N/A	1,617		3,396
Total		224,587		199,643
Less accumulated depreciation and amortization		(116,596)		(111,607)
Property and equipment, net		$	107,991	$	88,036

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(1)Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 15 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $8.4 million and $9.8 million at September 30, 2022 and December 31, 2021, respectively.

(2)Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost.

Components of depreciation and amortization expense were as follows for the periods indicated (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Depreciation and amortization, excluding amounts under finance leases	$	4,685	$	3,665	$	12,317	$	11,169
Amortization of property and equipment under finance leases	1,323		1,184		3,792		3,534
Total depreciation and amortization	$	6,008	$	4,849	$	16,109	$	14,703