Property and Equipment

3 Months Ended

Mar. 31, 2024

Property and Equipment

Property and Equipment

(6) Property and Equipment

(a) Summary of Property and Equipment

Property and equipment, net consisted of the following items:

				(Unaudited)
	Estimated	December 31,		March 31,
(in thousands)	Useful Lives	2023		2024
Land	n/a	$	31,668		31,739
Gathering systems and facilities	40-50 years (1)		3,345,845		3,440,338
Permanent buried pipelines and equipment	7-20 years		646,469		648,646
Surface pipelines and equipment	1-7 years		90,871		98,032
Heavy trucks and equipment	3-5 years		5,157		5,157
Above ground storage tanks	5-10 years		5,130		5,131
Other assets	3-20 years		8,110		8,111
Construction-in-progress	n/a		192,852		121,079
Total property and equipment			4,326,102		4,358,233
Less accumulated depreciation			(532,579)		(569,674)
Property and equipment, net		$	3,793,523		3,788,559

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