Contract Assets (Tables)

3 Months Ended

Mar. 31, 2024

Revenue Recognition [Abstract]

Schedule of Outstanding Contract Assets

Contract assets are as follows (in thousands):

	March 31, 2024		December 31, 2023
Contract assets	$	83,060	$	83,060
Less accumulated amortization	(9,672)		(8,405)
Contract assets, net	73,388		74,655
Less current contract assets	(7,019)		(5,836)
Contract assets, long term	$	66,369	$	68,820

The below table reflects our estimated amortization per year (in thousands) based on the Company’s current forecasted revenues from the ProFrac Agreement.

Years ending December 31,	Amortization
2024 (excluding the three months ended March 31, 2024)	$	5,029
2025	8,749
2026	9,538
2027	9,538
2028	9,538
Thereafter through May 2032	30,996
Total contract assets	$	73,388