Item 2 - Properties
−Removed: We currently lease executive office space in Houston, Texas, Dallas, Texas, and Laguna Hills, California.
−Removed: Through our subsidiaries we own (i) approximately 60 acres of land in Frio, Texas, which has an office warehouse facility and yard related to our trucking operations, and (ii) approximately 25 acres of land in Blaine, Oklahoma, related to our crude oil pipeline and exclusive connected blending and processing facility.
−Removed: We also own and operate fifteen (15) crude oil pipeline injection truck stations, located in Texas, New Mexico and North Dakota, as well as two operational major crude oil gathering, storage and transportation facilities located in Colorado City, Texas, and Delhi, Louisiana.
−Removed: We believe these facilities are in good condition but that we may need to expand our leased space and warehouses as business increases.
−Removed: On December 16, 2022, our subsidiary, VivaVentures Remediation Corp.
−Removed: entered into a Land Lease Agreement (the “Land Lease”) with W&P Development Corporation, under which we agreed to lease approximately 3.5 acres of land in Houston, Texas.
−Removed: The Land Lease is for an initial term of 126 months and may be extended for an additional 120 months at our discretion.
−Removed: Our monthly rent is $0 for the first three months and then at month 4 it is approximately $7,000 (based on a 50% reduction) and increases to approximately $13,000 in month 7 and then increases annually up to approximately $16,000 per month by the end of the initial term.
−Removed: We plan to place one or more of our RPC machines on the property, as well as store certain equipment.
−Removed: On October 1, 2024, the Company acquired a lease agreement for land, building, yard and improvements in Monohans, Texas related to operating a trucking yard and shop.
−Removed: Commencing on May 1, 2021, the five-year lease terminates on April 30, 2026.
−Removed: On October 1, 2024, the Company acquired multiple lease agreements for 10 acres of land, building, yard and improvements in Reeves County, Texas related to operating a trucking yard and shop.
−Removed: Commencing on January 1, 2024, seventeen-month lease terminates on May 31, 2025.
+Added: Through a subsidiary, we currently lease executive office space in Dallas, Texas.
+Added: We own the following properties through various subsidiaries:
+Added: Approximately 9.4 acres in Richland Parish, Louisiana, underlying our Delhi, Louisiana facility.
+Added: Approximately 7 acres in Scurry County, Texas, underlying our Colorado City, Texas terminal facility.
+Added: Easements and rights of way covering approximately 45 miles related with the Omega Gathering Pipeline.
+Added: In addition, we lease land or hold access rights for the operation of ten crude oil pipeline injection truck stations in Texas, New Mexico, and North Dakota through an operating subsidiary in our facilities segment.
+Added: We believe these facilities are in good condition.
+Added: Another operating subsidiary leases a portion of approximately 58.8 acres of land in Frio County, Texas, used for a truck yard, office, and shop, and we also lease approximately five acres in Ward County, Texas for a truck yard and shop.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.