| Schedule of Property and Equipment |
Property and equipment consist of the following:
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|
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|
|
|
|
|
|
|
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| Property and Equipment |
|
June 30, 2023 |
|
December 31, 2022 |
| Land |
$ |
24,303,454 |
|
|
$ |
24,989,784 |
|
| Crude oil pipelines |
186,018,051 |
|
|
185,047,366 |
|
| Natural gas pipeline |
— |
|
|
105,322,987 |
|
| Right-of-way agreements |
65,159,200 |
|
|
87,206,374 |
|
| Pipeline related facilities |
43,642,440 |
|
|
42,647,865 |
|
| Tanks |
34,389,952 |
|
|
33,092,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Vehicles, trailers and other equipment |
1,811,967 |
|
|
2,684,993 |
|
|
|
|
|
| Office equipment and computers |
1,301,139 |
|
|
1,569,698 |
|
|
|
|
|
|
|
|
|
| Construction work in progress |
13,245,282 |
|
|
10,495,266 |
|
| Gross property and equipment |
$ |
369,871,485 |
|
|
$ |
493,057,158 |
|
| Less: accumulated depreciation |
(30,066,195) |
|
|
(52,908,191) |
|
| Net property and equipment |
$ |
339,805,290 |
|
|
$ |
440,148,967 |
|
Held-for-sale property and equipment consist of the following:
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|
|
|
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|
|
| Property and Equipment |
|
June 30, 2023 |
|
|
| Land |
686,330 |
|
|
|
| Natural gas pipeline |
105,387,405 |
|
|
|
| Right-of-way agreements |
22,047,174 |
|
|
|
|
|
|
|
|
|
|
|
| Vehicles, trailers and other equipment |
876,686 |
|
|
|
| Office equipment and computers |
268,559 |
|
|
|
| Construction work in process |
20,000 |
|
|
|
| Gross Property and equipment |
$ |
129,286,154 |
|
|
|
| Less: accumulated depreciation |
(30,077,501) |
|
|
|
| Net property and equipment |
$ |
99,208,653 |
|
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|
|
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|