Oil and Gas Properties and Property, Plant and Equipment

9 Months Ended

Sep. 30, 2025

Oil and Gas Properties and Property, Plant and Equipment [Abstract]

Oil and Gas Properties and Property, plant and equipment

7.	Oil and Gas Properties and Property, plant and equipment

Oil and gas properties include the cost of properties, equipment and facilities for oil and natural-gas producing activities, excluding any asset retirement obligations. At September 30, 2025, the Company’s oil and gas properties, net consisted of the following:

	2025
Oil and gas properties	$	3,991,898
Less: accumulated depreciation		(278,709	)
	$	3,713,189

Included in oil and gas, on the basis of full cost accounting, net on the accompanying condensed consolidated balance sheet is $185,074 for the Company’s asset retirement obligation asset balance.

Property, plant and equipment are stated at cost less accumulated depreciation and amortization and depreciated using the straight-line method over their useful lives. At September 30, 2025 and December 31, 2024, the Company’s property, plant and equipment, net consisted of the following:

	2025			2024
Computer equipment and software	$	194,216		$	100,370
Furniture and other equipment		24,737			16,251
Models		400			—
Leasehold improvements		11,991			11,991
Equipment and machinery		834,934			770,939
Automobiles		362,122			4,638
Building		4,437,663			3,447,763
Property, plant and equipment		5,866,063			4,351,952
Less: accumulated depreciation		(1,746,977	)		(386,526	)
	$	4,119,086		$	3,965,426

Depreciation expense for the nine months ended September 30, 2025 and 2024 amounted to $518,563 and $189,869, respectively. Depreciation expense for the three months ended September 30, 2025 and 2024 amounted to $119,720 and $105,191, respectively.

SAFE & GREEN HOLDINGS CORP. 10-Q