| Schedule of Fixed Assets |
Fixed assets consisted of the following: | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | Crude oil and natural gas pipelines and related assets | $ | 3,825,345 | | | $ | 3,367,908 | | | Onshore facilities, machinery and equipment | 291,797 | | | 293,436 | | | Transportation equipment | 24,185 | | | 22,976 | | | Marine vessels | 1,064,148 | | | 1,062,720 | | | Land, buildings and improvements | 88,579 | | | 88,545 | | | Office equipment, furniture and fixtures | 10,441 | | | 10,101 | | | Construction in progress | 27,463 | | | 408,509 | | | Other | 26,665 | | | 26,665 | | | Fixed assets, at cost | 5,358,623 | | | 5,280,860 | | | Less: Accumulated depreciation | (1,858,430) | | | (1,740,974) | | | Net fixed assets | $ | 3,500,193 | | | $ | 3,539,886 | |
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| Schedule of Depreciation and Depletion Expense |
Our depreciation expense for the periods presented was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Depreciation expense | $ | 54,486 | | | $ | 52,643 | | | $ | 161,433 | | | $ | 148,290 | |
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| Schedule of Change in Asset Retirement Obligation |
The following table presents information regarding our AROs since December 31, 2024: | | | | | | ARO liability balance, December 31, 2024 | $ | 254,054 | | | Accretion expense | 8,624 | | | Revisions in timing and estimated costs of AROs | (705) | | | Liabilities incurred | 954 | | | Settlements | (2,132) | | ARO liability balance, September 30, 2025 | $ | 260,795 | |
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