Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
NOTE 3 — PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net consist of the following (in thousands):
March 31, 2024 December 31, 2023
Upstream natural gas assets:
Proved properties $ 501,413  $ 492,506 
Wells in progress 62,354  68,797 
Accumulated DD&A (207,199) (187,171)
Total upstream natural gas assets, net 356,568  374,132 
Driftwood Project assets:
Terminal construction in progress 538,748  533,316 
Pipeline construction in progress 37,938  35,939 
Land and land improvements 53,664  53,664 
Finance lease assets, net of accumulated DD&A 55,240  55,534 
Buildings and other assets, net of accumulated DD&A 302  310 
Total Driftwood Project assets, net 685,892  678,763 
Fixed assets and other:
Finance lease assets, net of accumulated DD&A 70,068  70,691 
Leasehold improvements and other assets, net of accumulated DD&A 11,559  12,713 
Total fixed assets and other, net 81,627  83,404 
Total property, plant and equipment, net $ 1,124,087  $ 1,136,299 
Driftwood Project Construction in Progress
During the three months ended March 31, 2024, we capitalized approximately $5.4 million and $2.0 million of directly identifiable project costs as Driftwood terminal construction in progress and Pipeline construction in progress, respectively.