Quarterly report pursuant to sections 13 or 15(d)

PLANT, PIPELINE AND EQUIPMENT

v2.4.0.8
PLANT, PIPELINE AND EQUIPMENT
6 Months Ended
Jun. 30, 2013
PLANT, PIPELINE AND EQUIPMENT [Abstract]  
PLANT, PIPELINE AND EQUIPMENT
6. PLANT, PIPELINE AND EQUIPMENT

 
Plant, pipeline and equipment consisted of the following:

 
 
June 30, 2013
 
 
December 31,
.2012
 
 
 
(thousands of dollars)
 
Platinum catalyst
 
$
1,612
 
 
$
1,612
 
Land
 
 
1,577
 
 
 
1,577
 
Plant, pipeline and equipment
 
 
65,809
 
 
 
64,356
 
Construction in progress
 
 
2,622
 
 
 
937
 
Total plant, pipeline and equipment
 
 
71,620
 
 
 
68,482
 
  Less accumulated depreciation and amortization
 
 
(30,521
)
 
 
(28,062
)
Net plant, pipeline and equipment
 
$
41,099
 
 
$
40,420
 

Plant, pipeline, and equipment serve as collateral for a $14.0 million term loan with a domestic bank (see Note 8).

Construction in progress during the first six months of 2013 included modifications to a tolling unit, expansion of our sales loading rack, and reworking existing treaters.

Amortization relating to the platinum catalyst which is included in cost of sales was $3,184, $3,184, $6,368 and $6,368 for the three and six months ended June 30, 2013, and 2012, respectively.