Quarterly report pursuant to Section 13 or 15(d)

OTHER NON-CURRENT ASSETS

v3.23.2
OTHER NON-CURRENT ASSETS
 6 Months Ended
Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER NON-CURRENT ASSETS
NOTE 4 — OTHER NON-CURRENT ASSETS
Other non-current assets consist of the following (in thousands):
June 30, 2023 December 31, 2022
Land lease and purchase options $ 8  $ 300 
Permitting costs —  916 
Right of use asset — operating leases 14,477  13,303 
Restricted cash 24,895  24,888 
Investment in unconsolidated entity 6,089  6,089 
Note receivable 24,189  6,595 
Pipeline materials and rights of way —  9,136 
Other 1,575  2,089 
Total other non-current assets $ 71,233  $ 63,316 
Restricted Cash
Restricted cash as of June 30, 2023 and December 31, 2022 represents cash collateralization of a letter of credit associated with a finance lease.
Note Receivable
In February 2023, the Company issued an amended and restated promissory note due June 14, 2031 (the “Note Receivable”) to an unaffiliated entity engaged in the development of infrastructure projects in the energy industry. The outstanding principal balance of the Note Receivable as of June 30, 2023 was approximately $24.2 million. The promissory note bears interest at a rate of 6.00%, which is capitalized into the outstanding principal balance annually.
Pipeline materials and rights of way
Pipeline materials and rights of way were transferred to construction in progress as of June 30, 2023. See Note 3 Property, Plant and Equipment.