Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.2.2
PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and equipment consist of the following:
Property and Equipment
September 30, 2022 December 31, 2021
Land $ 24,989,784  $ 24,989,784 
Crude oil pipelines 183,068,530  180,663,147 
Natural gas pipeline 105,050,920  104,847,405 
Right-of-way agreements 87,206,374  85,451,574 
Pipeline related facilities 41,617,157  39,995,865 
Tanks 33,037,897  30,679,194 
Vehicles, trailers and other equipment 2,381,066  1,840,609 
Office equipment and computers 1,487,322  1,403,090 
Construction work in progress $ 8,274,866  $ 8,581,560 
Gross property and equipment $ 487,113,916  $ 478,452,228 
Less: accumulated depreciation (48,864,283) (37,022,035)
Net property and equipment $ 438,249,633  $ 441,430,193 
Depreciation expense was $4.0 million and $11.9 million for the three and nine months ended September 30, 2022, respectively. Depreciation expense was $3.6 million and $10.0 million for the three and nine months ended September 30, 2021, respectively.