Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and equipment consist of the following:
Property and Equipment
March 31, 2022 December 31, 2021
Land $ 24,989,784  $ 24,989,784 
Crude oil pipelines 181,323,768  180,663,147 
Natural gas pipeline 104,847,405  104,847,405 
Right-of-way agreements 85,456,374  85,451,574 
Pipeline related facilities 41,249,404  39,995,865 
Tanks 30,715,515  30,679,194 
Vehicles, trailers and other equipment 1,959,534  1,840,609 
Office equipment and computers 1,433,089  1,403,090 
Construction work in progress $ 7,582,240  $ 8,581,560 
Gross property and equipment $ 479,557,113  $ 478,452,228 
Less: accumulated depreciation (40,964,057) (37,022,035)
Net property and equipment $ 438,593,056  $ 441,430,193 
Depreciation expense was $3.9 million and $2.7 million for the three months ended March 31, 2022 and 2021, respectively.