Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.23.2
PROPERTY AND EQUIPMENT (Tables)
6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
Property and equipment consist of the following:
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:
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