Property and Equipment

12 Months Ended

Dec. 31, 2021

(8) Property and Equipment

The Company’s investment in property and equipment is as follows:


	Estimated	December 31,
(in thousands)	Useful Lives	2020		2021
Land	n/a	$	23,582		23,369
Gathering systems and facilities	40-50 years ⁽¹⁾		2,643,927		2,817,918
Permanent buried pipelines and equipment	7-20 years		545,419		582,481
Surface pipelines and equipment	1-7 years		50,916		54,542
Heavy trucks and equipment	3-5 years		5,919		5,157
Above ground storage tanks	5-10 years		2,483		2,946
Construction-in-progress	n/a		139,506		174,271
Total property and equipment			3,411,752		3,660,684
Less accumulated depreciation			(157,708)		(265,938)
Property and equipment, net		$	3,254,044		3,394,746

(1)	Gathering systems and facilities are recognized as a single-leased asset with no residual value.

During the years ended December 31, 2019 and 2020, the Company recorded impairment expense of $409 million and $7 million, respectively, for the Clearwater Facility. See Note 4—Clearwater Facility Idling to our consolidated financial statements for more information. During the first quarter of 2020, the Company evaluated its assets for impairment due to the decline in the industry environment as a result of low commodity prices. As a result of this evaluation, the Company recorded an impairment expense of $89 million, which included an $83 million impairment expense to its permanent buried pipelines and equipment and a $6 million impairment expense to its surface pipelines and equipment.