CorEnergy Infrastructure Trust, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Property and equipment consists of the following:



Property and Equipment
	March 31, 2017			December 31, 2016
Land	$	580,000		$	580,000
Natural gas pipeline	124,288,156			124,288,156
Vehicles and trailers	570,267			570,267
Office equipment and computers	267,095			267,095
Gross property and equipment	$	125,705,518		$	125,705,518
Less: accumulated depreciation	(10,131,025		)	(9,292,712		)
Net property and equipment	$	115,574,493		$	116,412,806

Depreciation of property and equipment is as follows:



	For the Three Months Ended
	March 31, 2017		March 31, 2016
Depreciation Expense	$	838,313	$	834,905

Assets and Liabilities Held for Sale

Effective February 29, 2016, the Company foreclosed on 100 percent of the equity of BB Intermediate, the holding company of BBWS, the borrower of the Black Bison financing notes. On June 16, 2016, the Company entered into an asset sale agreement with Expedition Water Solutions for the sale of specified disposal wells and related equipment as outlined in the sale agreement. Consideration received by the company included $748 thousand cash, net of fees, and the future right to royalty payments of up to $6.5 million, which was fair valued at $450 thousand. The rights to future cash payments are tied to the future volumes of water disposed in each of the wells sold.

There were no assets or liabilities held for sale at March 31, 2017 or December 31, 2016.