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Property and Equipment
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4. Property and Equipment

 

Property, plant and equipment consisted of the following:

 

                 
    September 30,
2025		    

December 31,

2024

 
Vehicles and trailers   $ 7,686,400     $ 30,485,730  
Equipment     285,997       339,610  
Land     732,000       732,000  
Building     1,307,656       1,630,000  
Crude & NGL terminal and related equipment     930,460       930,460  
Crude Oil Transfer Stations     5,431,080       6,570,080  
Pipeline and related facilities     42,255,931       42,244,680  
Equipment under finance lease     7,312,268       12,593,359  
                 
Construction in process:                
Wash plant facilities     6,764,279       5,997,566  
Remediation Processing Unit System A     2,892,343       2,892,343  
Remediation Processing Unit System B     2,892,343       2,892,343  
WCCC tank expansion     1,526,443       1,390,488  
      80,017,200       108,698,659  
Accumulated Depreciation     (19,394,083 )     (8,659,288 )
Property, plant and equipment, net   $ 60,623,117     $ 100,039,371  

 

For the nine months ended September 30, 2025 and 2024, the Company recorded depreciation $7,952,518 and $114,765. respectively. Equipment currently being manufactured is considered construction in process and is not depreciated until the equipment is placed into service. Equipment that is temporarily not in service is not depreciated until placed into service.

 

During the quarter ended September 30, 2025, after the divestiture on July 30, 2025, the Company purchased two groups of assets from Meridian Equipment Leasing, LLC (“Meridian”). The Company acquired $696,000 of Crude Oil Transfer Stations and $1,606,696 of Vehicles and Trailers. These assets were recorded in their respective categories at cost, with corresponding notes payable established for the total consideration. Because Meridian was an entity under common control prior to the divestiture described above, these purchases are considered related-party transactions. The acquired assets will be depreciated over their estimated useful lives consistent with the Company’s existing depreciation policies.