Quarterly report pursuant to Section 13 or 15(d)

PLANT, PIPELINE AND EQUIPMENT

PLANT, PIPELINE AND EQUIPMENT

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Plant, pipeline and equipment consisted of the following:



	March 31, 2019			December 31, 2018
	(thousands of dollars)
Platinum catalyst metal	$	1,580		$	1,612
Catalyst	3,396			3,131
Land	5,428			5,428
Plant, pipeline and equipment	255,567			253,905
Construction in progress	4,473			4,343
Total plant, pipeline and equipment	$	270,444		$	268,419
Less accumulated depreciation	(77,589		)	(73,762		)
Net plant, pipeline and equipment	$	192,855		$	194,657

Plant, pipeline, and equipment serve as collateral for our amended and restated credit agreement. See Note 10.

Interest capitalized for construction was approximately $0 and $304,000 for the three months ended March 31, 2019 and 2018, respectively.

Labor capitalized for construction was approximately $0.1 million and $1.2 million for the three months ended March 31, 2019 and 2018, respectively.

Construction in progress during the first three months of 2019 included sales rack and Advanced Reformer unit improvements at SHR and equipment modifications at TC. Construction in progress during the first three months of 2018 included equipment purchased for various equipment updates at the TC facility, new reformer unit, tankage upgrades, and an addition to the rail spur at SHR.

Amortization relating to the catalyst, which is included in cost of sales, was approximately $221,000 and $0 for the three months ended March 31, 2019 and 2018, respectively.