Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment (Tables)

v3.4.0.3
Property and Equipment (Tables)
3 Months Ended
Mar. 31, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and equipment consists of the following:
Property and Equipment
 
 
March 31, 2016
 
December 31, 2015
Land
 
$
580,000

 
$
580,000

Natural gas pipeline
 
124,446,821

 
124,386,349

Vehicles and trailers
 
687,526

 
524,921

Office equipment and computers
 
97,670

 
87,696

Gross property and equipment
 
125,812,017

 
125,578,966

Less: accumulated depreciation
 
(6,840,717
)
 
(5,948,988
)
Net property and equipment
 
$
118,971,300

 
$
119,629,978

Assets Held for Sale
As a result of the foreclosure, the following assets are included in our Consolidated Balance Sheet, less estimated costs to sell, as Assets Held for Sale at March 31, 2016:
Assets Held for Sale
 
 
March 31, 2016
Disposal wells and related equipment
 
$
1,839,007

Assets held for sale
 
$
1,839,007

 
 
 
Note payable
 
$
439,007

Liabilities held for sale
 
$
439,007