Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.3
Property and Equipment
9 Months Ended
Sep. 30, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT
Property and equipment consist of the following:
Property and Equipment
 
September 30, 2019
 
December 31, 2018
Land
$
580,000

 
$
580,000

Natural gas pipeline
124,578,399

 
124,306,175

Vehicles and trailers
711,430

 
696,164

Office equipment and computers
268,559

 
268,559

Gross property and equipment
$
126,138,388

 
$
125,850,898

Less: accumulated depreciation
(18,498,371
)
 
(15,969,346
)
Net property and equipment
$
107,640,017

 
$
109,881,552


Depreciation expense was $843 thousand and $2.5 million for the three and nine months ended September 30, 2019, respectively, and $842 thousand and $2.5 million for the three and nine months ended September 30, 2018, respectively.