Quarterly report pursuant to Section 13 or 15(d)

OTHER NON-CURRENT ASSETS

v3.23.1
OTHER NON-CURRENT ASSETS
 3 Months Ended
Mar. 31, 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):
March 31, 2023 December 31, 2022
Land lease and purchase options $ —  $ 300 
Permitting costs 916  916 
Right of use asset — operating leases 12,661  13,303 
Restricted cash 24,891  24,888 
Investment in unconsolidated entity 6,089  6,089 
Note receivable 23,546  6,595 
Driftwood pipeline materials and rights of way 14,040  9,136 
Other 1,190  2,089 
Total other non-current assets $ 83,333  $ 63,316 
Restricted Cash
Restricted cash as of March 31, 2023 and December 31, 2022, represents cash collateralization of a letter of credit associated with a finance lease.
Note Receivable
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 March 31, 2023 was approximately $23.5 million. The Promissory Note bears interest at a rate of 6.00%, which will be capitalized into the outstanding principal balance annually.