Property, Plant and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4.Property, Plant and Equipment

As of June 30, 2024 and December 31, 2023, property, plant and equipment, net of accumulated depreciation consisted of the following:

	June 30,			December 31,
	2024			2023
Oil and natural gas properties
Proved	$	36,054		$	36,054
Unproved		3,057			3,057
Total oil and natural gas properties		39,111			39,111
Land and land improvements		585,485			157,737
Water wells, pipelines, facilities, ponds and related equipment		15,574			15,132
Buildings, vehicles, equipment, furniture and other		3,498			2,594
Construction in progress		774			-
		644,442			214,574
Less: accumulated depreciation and depletion		(14,630	)		(11,556	)
Total property, plant and equipment, net	$	629,812		$	203,018

Depreciation and depletion expense was $1.5 million for both the three months ended June 30, 2024 and 2023. Depreciation and depletion expense was $3.1 million and $2.7 million for the six months ended June 30, 2024 and 2023, respectively.