PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2022

PROPERTY AND EQUIPMENT.

PROPERTY AND EQUIPMENT

NOTE 6—PROPERTY AND EQUIPMENT

Property and equipment are stated at cost less accumulated depreciation. Depreciation (and amortization of finance lease assets) is calculated on a straight-line basis over the estimated useful life of each asset. Property and equipment consists of the following as of September 30, 2022 and December 31, 2021:

	September 30, 2022		December 31, 2021
	(in thousands)
Machinery and equipment	$	651,221	$	626,633
Buildings and leasehold improvements		135,717		108,177
Pipelines		72,829		72,829
Gathering and disposal infrastructure		62,903		63,228
Vehicles and equipment		26,875		28,502
Land		22,488		16,873
Computer equipment and software		4,804		5,395
Office furniture and equipment		773		764
Machinery and equipment - finance lease		519		544
Vehicles and equipment - finance lease		58		324
Computer equipment and software - finance lease		56		412
Construction in progress		40,159		19,834
		1,018,402		943,515
Less accumulated depreciation(1)		(591,340)		(551,727)
Total property and equipment, net	$	427,062	$	391,788

(1) Includes $0.6 million and $1.1 million of accumulated depreciation related to finance leases as of September 30, 2022 and December 31, 2021, respectively.

Total depreciation and amortization expense related to property and equipment and finance leases presented in the table above, as well as amortization of intangible assets presented in “Note 7— Other Intangible Assets” is as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)
Category
Depreciation expense from property and equipment	$	24,379	$	20,612	$	75,083	$	59,216
Amortization expense from finance leases		5		64		106		167
Amortization expense from intangible assets		2,572		2,686		8,017		7,919
Accretion expense from asset retirement obligations		259		104		855		105
Total depreciation and amortization	$	27,215	$	23,466	$	84,061	$	67,407