Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2018	Feb. 27, 2019	Jun. 29, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	CorEnergy Infrastructure Trust, Inc.
Entity Central Index Key	0001347652
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 445,335,846
Entity Common Stock, Shares Outstanding		12,797,265

Consolidated Balance Sheets - USD ($)

Dec. 31, 2018

Dec. 31, 2017

Assets

Leased property, net of accumulated depreciation of $87,154,095 and $72,155,753

$ 398,214,355

$ 465,956,467

Property and equipment, net of accumulated depreciation of $15,969,346 and $12,643,636

109,881,552

113,158,872

Financing notes and related accrued interest receivable, net of reserve of $600,000 and $4,100,000

1,300,000

1,500,000

Note receivable

5,000,000

0

Other equity securities, at fair value

0

2,958,315

Cash and cash equivalents

69,287,177

15,787,069

Deferred rent receivable

25,942,755

22,060,787

Accounts and other receivables

5,083,243

3,786,036

Deferred costs, net of accumulated amortization of $1,290,236 and $623,764

2,838,443

3,504,916

Prepaid expenses and other assets

668,584

742,154

Deferred tax asset, net

4,948,203

2,244,629

Goodwill

1,718,868

Total Assets

624,883,180

633,418,113

Liabilities and Equity

Secured credit facilities, net of debt issuance costs of $210,891 and $254,646

37,261,109

40,745,354

Unsecured convertible senior notes, net of discount and debt issuance costs of $1,180,729 and $1,967,917

112,777,271

112,032,083

Asset retirement obligation

7,956,343

9,170,493

Accounts payable and other accrued liabilities

3,493,490

2,333,782

Management fees payable

1,831,613

1,748,426

Income tax liability

0

2,204,626

Unearned revenue

6,552,049

3,397,717

Total Liabilities

169,871,875

171,632,481

Equity

Series A Cumulative Redeemable Preferred Stock 7.375%, $125,555,675 and $130,000,000 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 50,222 and 52,000 issued and outstanding at December 31, 2018 and December 31, 2017, respectively

125,555,675

130,000,000

Capital stock, non-convertible, $0.001 par value; 11,960,225 and $11,915,830 shares issued and outstanding at December 31, 2018 and December 31, 2017 (100,000,000 shares authorized)

11,960

11,916

Additional paid-in capital

320,295,969

331,773,716

Retained earnings

9,147,701

0

Total Equity

455,011,305

^[1]

461,785,632

Total Liabilities and Equity

$ 624,883,180

$ 633,418,113

[1]

(2) The retained earnings balance at December 31, 2018 was generated due to the timing of quarterly dividends and quarterly net income. In the fourth quarter of 2018, net income was greater than dividends due to the gain on sale of leased property, net from the sale of the Portland Terminal Facility resulting in a retained earnings balance as of December 31, 2018.

Consolidated Balance Sheets (Parenthetical) - USD ($)	12 Months Ended
Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accumulated depreciation, leased property	$ 87,154,095	$ 72,155,753
Accumulated depreciation, property and equipment	15,969,346	12,643,636
Accumulated amortization, Deferred costs	1,290,236	623,764
Reserve for financing notes and related accrued interest receivable	$ 600,000	$ 4,100,000
Preferred stock, par value (in dollars per share)	$ 0.001
Preferred stock, authorized (in shares)	10,000,000
Preferred stock, outstanding (in shares)	50,222.27
Capital stock non-convertible, par value (in dollars per share)	$ 0.001	$ 0.001
Capital stock non-convertible, shares issued (in shares)	11,960,225	11,915,830
Capital stock non-convertible, shares outstanding (in shares)	11,960,225	11,915,830
Capital stock non-convertible, shares authorized (in shares)	100,000,000	100,000,000
Series A Cumulative Redeemable Preferred Stock
Preferred stock interest rate	7.375%	7.375%
Preferred Stock, Liquidation Preference	$ 125,555,675	$ 130,000,000
Preferred Stock, Liquidation Preference (in dollars per share)	$ 2,500	$ 2,500
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	50,222	52,000
Preferred stock, outstanding (in shares)	50,222	52,000
Convertible Debt
Net of discount and debt issuance costs	$ 1,180,729	$ 1,967,917
Deferred debt financing costs, net	241,000
Secured Debt
Deferred debt financing costs, net	$ 210,891	$ 254,646

Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue
Lease revenue	$ 72,747,362	$ 68,803,804	$ 67,994,130
Revenue	16,484,236
Total Revenue	89,231,598	88,749,377	89,250,586
Expenses
Transportation and distribution expenses	7,210,748	6,729,707	6,463,348
General and administrative	13,042,847	10,786,497	12,270,380
Depreciation, amortization and ARO accretion expense	24,947,453	24,047,710	22,522,871
Provision for loan (gain) loss	(36,867)	0	5,014,466
Total Expenses	45,164,181	41,563,914	46,271,065
Operating Income	44,067,417	47,185,463	42,979,521
Other Income (Expense)
Net distributions and dividend income	106,795	680,091	1,140,824
Net realized and unrealized gain (loss) on other equity securities	(1,845,309)	1,531,827	824,482
Interest expense	(12,759,010)	(12,378,514)	(14,417,839)
Gain on the sale of leased property, net	11,723,257	0	0
Loss on extinguishment of debt	0	(336,933)	0
Total Other Expense	(2,774,267)	(10,503,529)	(12,452,533)
Income before income taxes	41,293,150	36,681,934	30,526,988
Taxes
Current tax expense (benefit)	(585,386)	2,831,658	(313,107)
Deferred tax benefit	(1,833,340)	(486,340)	(151,313)
Income tax expense (benefit), net	(2,418,726)	2,345,318	(464,420)
Net Income	43,711,876	34,336,616	30,991,408
Less: Net Income attributable to non-controlling interest	0	1,733,826	1,328,208
Net Income attributable to CorEnergy Stockholders	43,711,876	32,602,790	29,663,200
Preferred dividend requirements	9,548,377	7,953,988	4,148,437
Net Income attributable to Common Stockholders	34,163,499	24,648,802	25,514,763
Net Income	43,711,876	34,336,616	30,991,408
Other comprehensive income (loss):
Changes in fair value of qualifying hedges / AOCI attributable to CorEnergy stockholders	0	11,196	(201,993)
Changes in fair value of qualifying hedges / AOCI attributable to non-controlling interest	0	2,617	(47,226)
Net Change in Other Comprehensive Income (Loss)	0	13,813	(249,219)
Total Comprehensive Income (Loss)	43,711,876	34,350,429	30,742,189
Less: Comprehensive income attributable to non-controlling interest	0	1,736,443	1,280,982
Comprehensive Income attributable to CorEnergy Stockholders	$ 43,711,876	$ 32,613,986	$ 29,461,207
Earnings Per Common Share:
Basic (in dollars per share)	$ 2.86	$ 2.07	$ 2.14
Diluted (in dollars per share)	$ 2.79	$ 2.07	$ 2.14
Weighted Average Shares of Common Stock Outstanding:
Basic (in shares)	11,935,021	11,900,516	11,901,985
Diluted (in shares)	15,389,180	11,900,516	11,901,985
Dividends declared per share (in dollars per share)	$ 3.000	$ 3.000	$ 3.000
Transportation and distribution revenue
Revenue
Revenue	$ 16,484,236	$ 19,945,573	$ 21,094,112
Financing revenue
Revenue
Revenue	$ 0	$ 0	$ 162,344

Consolidated Statements of Equity - USD ($)

Total

Capital Stock

Preferred Stock

Additional Paid-in Capital

Accumulated Other Comprehensive Income (Loss)

Retained Earnings

Non-Controlling Interest

Series A Cumulative Redeemable Preferred Stock

Preferred Stock

Series A Cumulative Redeemable Preferred Stock

Additional Paid-in Capital

Beginning balance, (in shares) at Dec. 31, 2015

11,939,697

Beginning balance at Dec. 31, 2015

$ 444,194,306

$ 11,940

$ 56,250,000

$ 361,581,507

$ 190,797

$ 0

$ 26,160,062

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

30,991,408

29,663,200

1,328,208

Net change in cash flow hedges

(249,219)

(201,993)

(47,226)

Total Comprehensive Income (Loss)

30,742,189

(201,993)

29,663,200

1,280,982

Repurchase of stock (in shares)

(90,613)

Repurchase of stock

(2,041,851)

$ (91)

(2,041,760)

Series A preferred stock dividends

(4,148,437)

Common stock dividends

(35,712,616)

(10,197,853)

(25,514,763)

Common stock issued under director's compensation plan (in shares)

2,551

Common stock issued under director's compensation plan

60,000

$ 2

59,998

Reinvestment of dividends paid to common stockholders (in shares)

34,581

Reinvestment of dividends paid to common stockholders

815,889

$ 35

815,854

Ending balance at Dec. 31, 2016

433,909,480

$ 11,886

56,250,000

350,217,746

(11,196)

0

27,441,044

Ending balance, (in shares) at Dec. 31, 2016

11,886,216

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

34,336,616

32,602,790

1,733,826

Net change in cash flow hedges

13,813

11,196

2,617

Total Comprehensive Income (Loss)

34,350,429

11,196

32,602,790

1,736,443

Issuance of Series A cumulative redeemable preferred stock, 7.375% - redemption value

$ 71,161,531

$ 73,750,000

$ (2,588,469)

Series A preferred stock dividends

(8,227,734)

(727,001)

(7,500,733)

Common stock dividends

(35,694,200)

(10,592,143)

(25,102,057)

Common stock issued under director's compensation plan (in shares)

1,979

Common stock issued under director's compensation plan

67,500

$ 2

67,498

Distributions to Non-controlling interest

(1,833,650)

Purchase of Non-controlling interest

(32,910,032)

(5,566,195)

(27,343,837)

Reinvestment of dividends paid to common stockholders (in shares)

27,635

Reinvestment of dividends paid to common stockholders

962,308

$ 28

962,280

Ending balance at Dec. 31, 2017

$ 461,785,632

$ 11,916

130,000,000

331,773,716

0

Ending balance, (in shares) at Dec. 31, 2017

11,915,830

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Cumulative transition adjustment upon the adoption of ASC 606, net of tax

$ (2,449,245)

(2,449,245)

Net income

43,711,876

0

Net change in cash flow hedges

0

Total Comprehensive Income (Loss)

43,711,876

Repurchase of stock

^[1]

(4,275,553)

(4,444,325)

158,218

10,554

Series A preferred stock dividends

(9,587,500)

Common stock dividends

(35,793,889)

(10,806,660)

(24,987,229)

Common stock issued under director's compensation plan (in shares)

1,807

Common stock issued under director's compensation plan

67,500

$ 2

67,498

Common stock issued upon conversion of convertible notes (in shares)

1,271

Common stock issued upon conversion of convertible notes

42,654

$ 1

42,653

Reinvestment of dividends paid to common stockholders (in shares)

41,317

Reinvestment of dividends paid to common stockholders

1,509,830

$ 41

1,509,789

Ending balance at Dec. 31, 2018

^[2]

$ 455,011,305

$ 11,960

$ 125,555,675

$ 320,295,969

$ 0

$ 9,147,701

$ 0

Ending balance, (in shares) at Dec. 31, 2018

11,960,225

^[2]

[1]	(1) In connection with the repurchases of Series A Preferred Stock during 2018, the deduction to preferred dividends of $10,554 represents the discount in the repurchase price paid compared to the carrying amount derecognized.
[2]	(2) The retained earnings balance at December 31, 2018 was generated due to the timing of quarterly dividends and quarterly net income. In the fourth quarter of 2018, net income was greater than dividends due to the gain on sale of leased property, net from the sale of the Portland Terminal Facility resulting in a retained earnings balance as of December 31, 2018.

Consolidated Statements of Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Decrease in preferred dividends	$ 10,554
Series A Cumulative Redeemable Preferred Stock
Preferred stock interest rate	7.375%	7.375%

Consolidated Statements of Cash Flow - USD ($)	12 Months Ended
Consolidated Statements of Cash Flow - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Activities
Net Income	$ 43,711,876	$ 34,336,616	$ 30,991,408
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax, net	(1,845,710)	(486,340)	(151,313)
Depreciation, amortization and ARO accretion	26,361,907	25,708,891	24,548,350
Gain on sale of leased property	(11,723,257)	0	0
Provision for loan (gain) loss	(36,867)	0	5,014,466
Loss on extinguishment of debt	0	336,933	0
Non-cash settlement of accounts payable	0	(221,609)	0
(Gain) loss on sale of equipment	(8,416)	4,203	0
Gain on repurchase of convertible debt	0	0	(71,702)
Net distributions and dividend income, including recharacterization of income	0	148,649	(117,004)
Net realized and unrealized (gain) loss on other equity securities	1,845,309	(1,531,827)	(781,153)
Unrealized gain on derivative contract	0	0	(75,591)
Settlement of derivative contract	0	0	(95,319)
Loss on settlement of asset retirement obligation	310,941	0	0
Common stock issued under directors compensation plan	67,500	67,500	60,000
Changes in assets and liabilities:
Increase in deferred rent receivables	(7,038,848)	(7,184,005)	(8,360,036)
(Increase) decrease in accounts and other receivables	(1,297,207)	752,848	(174,390)
Decrease in financing note accrued interest receivable	0	0	95,114
(Increase) decrease in prepaid expenses and other assets	73,505	(16,717)	329,735
Increase (decrease) in management fee payable	83,187	13,402	(28,723)
Increase (decrease) in accounts payable and other accrued liabilities	476,223	(225,961)	(231,151)
Increase (decrease) in income tax liability	(2,204,626)	2,204,626	0
Increase (decrease) in unearned revenue	(152,777)	2,884,362	155,961
Net cash provided by operating activities	48,622,740	56,791,571	51,108,652
Investing Activities
Proceeds from the sale of leased property	55,553,975	0	0
Proceeds from sale of other equity securities	449,067	7,591,166	0
Proceeds from assets and liabilities held for sale	0	0	644,934
Purchases of property and equipment, net	(105,357)	(116,595)	(191,926)
Proceeds from asset foreclosure and sale	17,999	0	223,451
Principal payment on financing note receivable	236,867	0	0
Increase in financing notes receivable	0	0	(202,000)
Return of capital on distributions received	663,939	120,906	4,631
Net cash provided by investing activities	56,816,490	7,595,477	479,090
Financing Activities
Debt financing costs	(264,010)	(1,462,741)	(193,000)
Net offering proceeds on Series A preferred stock	0	71,161,531	0
Repurchases of common stock	0	0	(2,041,851)
Repurchases of convertible debt	0	0	(899,960)
Repurchases of Series A preferred stock	(4,275,553)	0	0
Dividends paid on Series A preferred stock	(9,587,500)	(8,227,734)	(4,148,437)
Dividends paid on common stock	(34,284,059)	(34,731,892)	(34,896,727)
Distributions to non-controlling interest	0	(1,833,650)	0
Advances on revolving line of credit	0	10,000,000	44,000,000
Payments on revolving line of credit	0	(54,000,000)	0
Proceeds from term debt	0	41,000,000	0
Principal payments on secured credit facilities	(3,528,000)	(45,600,577)	(60,131,423)
Purchase of non-controlling interest	0	(32,800,000)	0
Net cash used in financing activities	(51,939,122)	(56,495,063)	(58,311,398)
Net Change in Cash and Cash Equivalents	53,500,108	7,891,985	(6,723,656)
Cash and Cash Equivalents at beginning of period	15,787,069	7,895,084	14,618,740
Cash and Cash Equivalents at end of period	69,287,177	15,787,069	7,895,084
Supplemental Disclosure of Cash Flow Information
Interest paid	11,200,835	10,780,150	12,900,901
Income taxes paid (net of refunds)	2,136,563	199,772	37,736
Non-Cash Investing Activities
Note receivable in consideration of the sale of leased property	5,000,000	0	0
Investment in other equity securities	0	(1,161,034)	0
Change in accounts and other receivables	0	0	(450,000)
Net change in Assets Held for Sale, Property and equipment, Prepaid expenses and other assets, Accounts payable and other accrued liabilities and Liabilities held for sale	0	0	(1,776,549)
Non-Cash Financing Activities
Change in accounts payable and accrued expenses related to debt financing costs	(255,037)	255,037	0
Reinvestment of distributions by common stockholders in additional common shares	1,509,830	962,308	815,889
Common stock issued upon conversion of convertible notes	$ 42,654	$ 0	$ 0

Introduction and Basis of Presentation	12 Months Ended
Introduction and Basis of Presentation	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INTRODUCTION AND BASIS OF PRESENTATION	INTRODUCTION AND BASIS OF PRESENTATION Introduction CorEnergy Infrastructure Trust, Inc. (referred to as "CorEnergy" or "the Company"), was organized as a Maryland corporation and commenced operations on December 8, 2005. The Company's common shares are listed on the New York Stock Exchange ("NYSE") under the symbol "CORR" and its depositary shares representing Series A Preferred Stock are listed on the NYSE under the symbol "CORR PrA". The Company is primarily focused on acquiring and financing real estate assets within the U.S. energy infrastructure sector and concurrently entering into long-term triple-net participating leases with energy companies. The Company also may provide other types of capital, including loans secured by energy infrastructure assets. Targeted assets include pipelines, storage tanks, transmission lines, and gathering systems, among others. These sale-leaseback or real property mortgage transactions provide the energy company with a source of capital that is an alternative to other sources such as corporate borrowing, bond offerings, or equity offerings. Many of the Company's leases contain participation features in the financial performance or value of the underlying infrastructure real property asset. The triple-net lease structure requires that the tenant pay all operating expenses of the business conducted by the tenant, including real estate taxes, insurance, utilities, and expenses of maintaining the asset in good working order. CorEnergy considers its investments in these energy infrastructure assets to be a single business segment and reports them accordingly in its financial statements. Basis of Presentation The accompanying consolidated financial statements include CorEnergy accounts and the accounts of its wholly-owned subsidiaries and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") set forth in the Accounting Standards Codification ("ASC"), as published by the Financial Accounting Standards Board ("FASB"), and with the Securities and Exchange Commission ("SEC") instructions to Form 10-K. The accompanying consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. There were no adjustments that, in the opinion of management, were not of a normal and recurring nature. All intercompany transactions and balances have been eliminated in consolidation, and the Company's net earnings have been reduced by the portion of net earnings attributable to non-controlling interests, when applicable. The FASB issued ASU 2015-02 Consolidations (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02"), which amended previous consolidation guidance, including introducing a separate consolidation analysis specific to limited partnerships and other similar entities. Under this analysis, limited partnerships and other similar entities are considered a variable interest entity ("VIE") unless the limited partners hold substantive kick-out rights or participating rights. Management determined that Pinedale LP and Grand Isle Corridor LP are VIEs under the amended guidance because the limited partners of both partnerships lack both substantive kick-out rights and participating rights. As such, management evaluated the qualitative criteria under FASB ASC Topic 810 in conjunction with ASU 2015-02 to make a determination whether these partnerships should be consolidated in the Company's financial statements. ASC Topic 810-10 requires the primary beneficiary of a variable interest entity's activities to consolidate the VIE. The primary beneficiary is identified as the enterprise that has a) the power to direct the activities of the VIE that most significantly impact the entity's economic performance and b) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. The standard requires an ongoing analysis to determine whether the variable interest gives rise to a controlling financial interest in the VIE. Based on the general partners' roles and rights as afforded by the partnership agreements and its exposure to losses and benefits of each of the partnerships through its significant limited partner interests, management determined that CorEnergy is the primary beneficiary of both Pinedale LP and Grand Isle Corridor LP. Based upon this evaluation and the Company's 100 percent ownership interest in Pinedale LP (2018) and Grand Isle Corridor LP (2016-2018) and the majority ownership interest in Pinedale LP (2016-2017) of the limited partnership interests, the consolidated financial statements presented include full consolidation with respect to both of the partnerships.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

A. Use of Estimates – The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

B. Leased Property – The Company includes assets subject to lease arrangements within leased property, net of accumulated depreciation, in the Consolidated Balance Sheets. Lease payments received are reflected in lease revenue on the Consolidated Statements of Income, net of amortization of any off-market adjustments. Costs in connection with the creation and execution of a lease are capitalized and amortized over the lease term. See Note 3 ("Leased Properties And Leases") for further discussion.

C. Property and Equipment – Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the asset. Expenditures for repairs and maintenance are charged to operations as incurred, and improvements, which extend the useful lives of assets, are capitalized and depreciated over the remaining estimated useful life of the asset. The Company initially records long-lived assets at their purchase price plus any direct acquisition costs, unless the transaction is accounted for as a business combination, in which case the acquisition costs are expensed as incurred. If the transaction is accounted for as a business combination, the Company allocates the purchase price to the acquired tangible and intangible assets and liabilities based on their estimated fair values.

D. Long-Lived Asset Impairment – The Company's long-lived assets consist primarily of a subsea midstream pipeline system, liquids gathering system and natural gas pipelines that have been obtained through asset acquisitions and a business combination. Management continually monitors its business, the business environment and performance of its operations to determine if an event has occurred that indicates that the carrying value of a long-lived asset may be impaired. When a triggering event occurs, which is a determination that involves judgment, management utilizes cash flow projections to assess its ability to recover the carrying value of its assets based on the Company's long-lived assets' ability to generate future cash flows on an undiscounted basis. This differs from the evaluation of goodwill, for which the recoverability assessment utilizes fair value estimates that include discounted cash flows in the estimation process and accordingly any goodwill impairment recognized may not be indicative of a similar impairment of the related underlying long-lived assets.

Management's projected cash flows of long-lived assets are primarily based on contractual cash flows relating to existing leases that extend many years into the future. If those cash flow projections indicate that the long-lived asset's carrying value is not recoverable, management records an impairment charge for the excess of carrying value of the asset over its fair value. The estimate of fair value considers a number of factors, including the potential value that would be received if the asset were sold, discount rates and projected cash flows. Due to the imprecise nature of these projections and assumptions, actual results can differ from management's estimates. There were no impairments of long-lived assets recorded during the years ended December 31, 2018, 2017 or 2016.

E. Financing Notes Receivable – Financing notes receivable are presented at face value plus accrued interest receivable and deferred loan origination costs and net of related direct loan origination income. Each quarter the Company reviews its financing notes receivable to determine if the balances are realizable based on factors affecting the collectability of those balances. Factors may include credit quality, timeliness of required periodic payments, past due status and management discussions with obligors. The Company evaluates the collectability of both interest and principal of each of its loans to determine if an allowance is needed. An allowance will be recorded when based on current information and events, the Company determines it is probable that it will be unable to collect all amounts due according to the existing contractual terms. If the Company does determine an allowance is necessary, the amount deemed uncollectable is expensed in the period of determination. An insignificant delay or shortfall in the amount of payments does not necessarily result in the recording of an allowance. Generally, when interest and/or principal payments on a loan become past due, or if the Company does not otherwise expect the borrower to be able to service its debt and other obligations, the Company will place the loan on non-accrual status and will typically cease recognizing financing revenue on that loan until all principal and interest have been brought current. Interest income recognition is resumed if and when the previously reserved-for financing notes become contractually current and performance has been demonstrated. Payments received subsequent to the recording of an allowance will be recorded as a reduction to principal. During the years ended December 31, 2018, 2017 and 2016, the Company recorded provisions for loan (gain) loss of approximately $(37) thousand, $0 and 5.0 million, respectively. The Company's financing notes receivable are discussed more fully in Note 5 ("Financing Notes Receivable").

F. Investment Securities – The Company's investments in securities are classified as other equity securities and represent interests in private companies which the Company has elected to report at fair value under the fair value option. These investments are subject to restrictions on resale, have no established trading market and are valued on a quarterly basis. Because of the inherent uncertainty of valuation, the fair values of such investments, which are determined in accordance with procedures approved by the Company's Board of Directors, may differ materially from the values that would have been used had a ready market existed for the investments.

The Company determines fair value to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has determined the principal market, or the market in which the Company exits its private portfolio investments with the greatest volume and level of activity, to be the private secondary market. Typically, private companies are bought and sold based on multiples of EBITDA, cash flows, net income, revenues, or in limited cases, book value.

For private company investments, value is often realized through a liquidity event. Therefore, the value of the company as a whole (enterprise value) at the reporting date often provides the best evidence of the value of the investment and is the initial step for valuing the Company's privately issued securities. For any one company, enterprise value may best be expressed as a range of fair values, from which a single estimate of fair value will be derived. In determining the enterprise value of a portfolio company, an analysis is prepared consisting of traditional valuation methodologies including market and income approaches. The Company considers some or all of the traditional valuation methods based on the individual circumstances of the portfolio company in order to derive its estimate of enterprise value.

The fair value of investments in private portfolio companies is determined based on various factors, including enterprise value, observable market transactions, such as recent offers to purchase a company, recent transactions involving the purchase or sale of the equity securities of the company, or other liquidation events. The determined equity values may be discounted when the Company has a minority position, or is subject to restrictions on resale, has specific concerns about the receptivity of the capital markets to a specific company at a certain time, or other comparable factors exist.

G. Fair Value Measurements – FASB ASC 820, Fair Value Measurements and Disclosure ("ASC 820"), defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Various inputs are used in determining the fair value of the Company's assets and liabilities. These inputs are summarized in the three broad levels listed below:


•	Level 1 - quoted prices in active markets for identical investments


•	Level 2 - other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.)


•	Level 3 - significant unobservable inputs (including the Company's own assumptions in determining the fair value of investments)

See Note 10 ("Fair Value") for further discussion of the Company's fair value measurements.

H. Cash and Cash Equivalents – The Company maintains cash balances at financial institutions in amounts that regularly exceed FDIC insured limits. The Company's cash equivalents are comprised of short-term, liquid money market instruments.

I. Accounts and other receivables – Accounts receivable are presented at face value net of an allowance for doubtful accounts within accounts and other receivables on the balance sheet. Accounts are considered past due based on the terms of sale with the customers. The Company reviews accounts for collectability based on an analysis of specific outstanding receivables, current economic conditions and past collection experience. For the years ended December 31, 2018 and 2017, the Company determined that an allowance for doubtful accounts was not necessary.

J. Deferred rent receivables – Lease receivables are determined according to the terms of the lease agreements entered into by the Company and its lessees, as discussed within Note 3 ("Leased Properties And Leases"). Lease receivables primarily represent timing differences between straight-line revenue recognition and contractual lease receipts. As of December 31, 2018, lease payments by the Company's tenants have remained timely and without lapse.

K. Goodwill – Goodwill represents the excess of the amount paid for the MoGas business over the fair value of the net identifiable assets acquired. To comply with ASC 350, Intangibles - Goodwill and Other ("ASC 350"), the Company performs an impairment test for goodwill annually, or more frequently in the event that a triggering event has occurred. December 31st is the Company's annual testing date associated with its MoGas reporting unit.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies how an entity is required to test goodwill for impairment by eliminating step two from the goodwill impairment test. Effective January 1, 2017, the Company elected to early adopt this standard.

In accordance with ASC 350, a company may elect to perform a qualitative assessment to determine whether the quantitative impairment test is required. If the company elects to perform a qualitative assessment, the quantitative impairment test is required only if the conclusion is that it is more likely than not that the reporting unit's fair value is less than its carrying amount. If a company bypasses the qualitative assessment, the quantitative goodwill impairment test should be followed in step one.

Step one compares the fair value of the reporting unit to its carrying value to identify and measure any potential impairment. The reporting unit fair value is based upon consideration of various valuation methodologies, one of which is projecting future cash flows discounted at rates commensurate with the risks involved ("Discounted Cash Flow" or "DCF"). Assumptions used in a DCF require the exercise of significant judgment, including judgment about appropriate discount rates and terminal values, growth rates and the amount and timing of expected future cash flows. Forecasted cash flows require management to make judgments and assumptions, including estimates of future volumes and rates. Declines in volumes or rates from those forecasted, or other changes in assumptions, may result in a change in management's estimate and result in an impairment.

The Company elected to perform a qualitative goodwill impairment assessment for the years ended December 31, 2018 and 2017. In performing the qualitative assessment, the Company analyzed the key drivers and other external factors that impact the business in order to determine if any significant events, transactions or other factors had occurred or are expected to occur that would impair earnings or competitiveness, therefore impairing the fair value of the MoGas reporting unit. After assessing the totality of events and circumstances, it was determined that it was not more likely than not that the fair value of the MoGas reporting unit was less than the carrying value, and so it was not necessary to perform the quantitative step one valuation. Key drivers that were considered in the qualitative evaluation of the MoGas reporting unit included: general economic conditions, continued recovery of the energy markets, natural gas pricing, input costs, liquidity and capital resources and customer outlook. Additionally, the Company considered the quantitative impairment analysis performed as of December 31, 2016, including potential updates to key valuation assumptions, in determining that it was not more likely than not that goodwill was impaired for the current year assessment.

L. Debt Discount and Debt Issuance Costs – Costs incurred for the issuance of new debt are capitalized and amortized into interest expense over the debt term. Issuance costs related to long-term debt are recorded as a direct deduction from the carrying amount of that debt liability, net of accumulated amortization. Issuance costs related to line-of-credit arrangements however, are presented as an asset instead of a direct deduction from the carrying amount of the debt. In accordance with ASC 470, Debt ("ASC 470"), the Company recorded its Convertible Senior Notes at the aggregate principal amount, less discount. The Company is amortizing the debt discount over the life of the convertible notes as additional non-cash interest expense utilizing the effective interest method. Refer to Note 11 ("Debt") for additional information.

M. Asset Retirement Obligations – The Company follows ASC 410-20, Asset Retirement Obligations, which requires that an asset retirement obligation ("ARO") associated with the retirement of a long-lived asset be recognized as a liability in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated asset. The Company recognized an existing ARO in conjunction with the acquisition of the GIGS in June 2015.

The Company measures changes in the ARO liability due to passage of time by applying an interest method of allocation to the amount of the liability at the beginning of the period. The increase in the carrying amount of the liability is recognized as an expense classified as an operating item in the Consolidated Statements of Income, hereinafter referred to as ARO accretion expense. The Company periodically reassesses the timing and amount of cash flows anticipated associated with the ARO and adjusts the fair value of the liability accordingly under the guidance in ASC 410-20.

The fair value of the obligation at the acquisition date was capitalized as part of the carrying amount of the related long-lived assets and is being depreciated over the asset's remaining useful life. The useful lives of most pipeline gathering systems are primarily derived from available supply resources and ultimate consumption of those resources by end users. Adjustments to the ARO resulting from reassessments of the timing and amount of cash flows will result in changes to the retirement costs capitalized as part of the carrying amount of the asset.

Upon decommissioning of the ARO or a portion thereof, the Company reduces the fair value of the liability and recognizes a (gain) loss on settlement of ARO as an operating item in the Consolidated Statements of Income for the difference between the liability and actual decommissioning costs incurred.

Refer to Note 12 ("Asset Retirement Obligation") for additional information.

N. Revenue Recognition – In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers ("ASU 2014-09" or "ASC 606"), which became effective for all public entities on January 1, 2018. ASC 606 supersedes previously existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g. leases). The model requires an entity to recognize as revenue the amount of consideration to which it expects to be entitled for the transfer of promised goods or services to customers. A substantial portion of the Company's revenue consists of rental income from leasing arrangements, which is specifically excluded from ASC 606. However, the Company's transportation and distribution revenue is within the scope of the new guidance. The Company adopted ASC 606 effective on January 1, 2018 using the modified retrospective method. The Company elected to apply the guidance only to open contracts as of the effective date. The Company recognized the cumulative effect of applying the new standard as an adjustment to the opening balance of stockholders' equity. The comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. Refer to Note 4 ("Transportation And Distribution Revenue") for further discussion of the transition impact and related disclosures under ASC 606.

Specific recognition policies for the Company's revenue items are as follows:

•

Lease revenue – Base rent related to the Company's leased property is recognized on a straight-line basis over the term of the lease when collectability is reasonably assured. Participating rent is recognized when it is earned, based on the achievement of specified performance criteria. Rental payments received in advance are classified as unearned revenue and included as a liability within the Consolidated Balance Sheets. Unearned revenue is amortized ratably over the lease period as revenue recognition criteria are met. Rental payments received in arrears are accrued and classified as deferred rent receivable and included in assets within the Consolidated Balance Sheets.

•

Transportation and distribution revenue – The Company's contracts related to transportation and distribution revenue are primarily comprised of a mix of natural gas supply, transportation and distribution performance obligations, as well as limited performance obligations related to system maintenance and expansion. Transportation revenues are recognized by MoGas and distribution revenues are recognized by Omega and Omega Gas Marketing, LLC.

◦

Under the Company's natural gas supply, transportation and distribution performance obligations, the customer simultaneously receives and consumes the benefit of the services as natural gas is delivered. Therefore, the transaction price is allocated proportionally over the series of identical performance obligations with each contract. The transaction price is calculated based on (i) index price, plus a contractual markup in the case of natural gas supply agreements (considered variable due to fluctuations in the index), (ii) FERC regulated rates or negotiated rates in the case of transportation agreements and (iii) contracted amounts (with annual CPI escalators) in the case of the Company's distribution agreement. Based on the nature of the agreements, revenue for all but one of the Company's natural gas supply, transportation and distribution performance obligations is recognized on a right to invoice basis as the performance obligations are met, which represents what the Company expects to receive in consideration and is representative of value delivered to the customer. The Company has a contract with one customer, Spire, that has fixed pricing which varies over the contract term. For this specific contract, the transaction price has been allocated ratably over the contractual performance obligation beginning in 2018 with the adoption of ASC 606. All invoicing is done in the month following service, with payment typically due a month from invoice date.

◦

The Company's contracts also contain performance obligations related to system maintenance and expansion, which are completed on an as-needed basis. The work performed is specific and tailored to the customer's needs and there are no alternative uses for the services provided. Therefore, as the work is being completed, control is transferring to the customer. These services are billed at the Company's cost, plus an agreed upon margin, and the Company has an enforceable right to payment for services provided. The Company invoices for this service on a monthly basis according to an agreed upon billing schedule. Revenue is recognized on an input method, based on the actual cost of a service as a measure of performance obligations satisfaction, which the Company determined to be the method which faithfully depicts the transfer of services. Differences between the amounts invoiced and revenue recognized under the input method are reflected as an asset or liability on the Consolidated Balance Sheets. Any differences are typically expected to be recognized within a year.


◦	Beginning February 1, 2016, due to changes that commenced under a new contract with the Department of Defense ("DOD"), gas sales and cost of gas sales are presented on a net basis in the transportation and distribution revenue line. The Company continues to present the gas sales and cost of gas sales on a net basis upon adoption of ASC 606.

•

Financing revenue – Historically, financing notes receivable have been considered a core product offering and therefore the related income is presented as a component of operating income. For increasing rate loans, base interest income is recorded ratably over the life of the loan, using the effective interest rate. The net amount of deferred loan origination income and costs are amortized on a straight-line basis over the life of the loan and reported as an adjustment to yield in financing revenue. Participating financing revenues are recorded when specific performance criteria have been met.

O. Transportation and distribution expense – Included here are both MoGas' costs of operating and maintaining the natural gas transmission line and Omega's costs of operating and maintaining the natural gas distribution system, including any necessary expansion of the distribution system. These costs are incurred both internally and externally. The internal costs relate to system control, pipeline operations, maintenance, insurance and taxes. Other internal costs include payroll for employees associated with gas control, field employees and management. The external costs consist of professional services such as audit and accounting, legal and regulatory and engineering.

Historically, Omega's amounts paid for gas and propane delivered to customers were presented as cost of sales. Beginning February 1, 2016, under a new contract with the DOD, amounts paid by Omega for gas and propane are netted against sales and are presented in the transportation and distribution revenue line. See paragraph (N) above.

P. Other Income Recognition – Specific policies for the Company's other income items are as follows:

•

Net distributions and dividend income from investments – Distributions and dividends from investments are recorded on their ex-dates and are reflected as other income within the accompanying Consolidated Statements of Income. Distributions received from the Company's investments are generally characterized as ordinary income, capital gains and distributions received from investment securities. The portion characterized as return of capital is paid by the Company's investees from their cash flow from operations. The Company records investment income, capital gains and distributions received from investment securities based on estimates made at the time such distributions are received. Such estimates are based on information available from each company and other industry sources. These estimates may subsequently be revised based on information received from the entities after their tax reporting periods are concluded, as the actual character of these distributions is not known until after the fiscal year end of the Company.

•

Net realized and unrealized gain (loss) from investments – Securities transactions are accounted for on the date the securities are purchased or sold. Realized gains and losses are reported on an identified cost basis. The Company records investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on information available from the portfolio company and other industry sources. These estimates may subsequently be revised based on information received from the portfolio company after their tax reporting periods are concluded, as the actual character of these distributions are not known until after the Company's fiscal year end.

Q. Asset Acquisition Expenses – Costs incurred in connection with the research of real property acquisitions not accounted for as business combinations are expensed until it is determined that the acquisition of the real property is probable. Upon such determination, costs incurred in connection with the acquisition of the property are capitalized as described in paragraph (C) above. Deferred costs related to an acquisition that the Company has determined, based on management's judgment, not to pursue are expensed in the period in which such determination is made. Costs incurred in connection with a business combination are expensed as incurred.

R. Offering Costs – Offering costs related to the issuance of common or preferred stock are charged to additional paid-in capital when the stock is issued.

S. Derivative Instruments and Hedging Activities – The Company has used forward swap contracts primarily to reduce exposure to changes in interest rates on a portion of its variable-rate debt and to provide a cash flow hedge. In accordance with FASB ASC 815, Derivatives and Hedging ("ASC 815"), these derivative contracts have been recorded on the balance sheet at fair value. Historically, these derivative instruments have been designated as hedges for accounting purposes. The measurement of the cash flow hedge ineffectiveness has historically been recognized in earnings, when applicable. The effective portion of the gain or loss on qualifying swaps has been reported in accumulated other comprehensive income ("AOCI"), in accordance with ASC 815. For swaps de-designated as cash flow hedges, changes in fair value of the swaps have been fully recognized in earnings. See Note 13 ("Interest Rate Hedge Swaps") for further discussion.

T. Earnings Per Share – Basic earnings per share ("EPS") is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the period except for periods of net loss for which no common share equivalents are included because their effect would be anti-dilutive. Dilutive common equivalent shares consist of shares issuable upon conversion of the Convertible Notes calculated using the if-converted method.

U. Federal and State Income Taxation – In 2013 the Company qualified for REIT status, and in March 2014 elected (effective as of January 1, 2013), to be treated as a REIT for federal income tax purposes. Because certain of its assets may not produce REIT-qualifying income or be treated as interests in real property, those assets are held in wholly-owned TRSs in order to limit the potential that such assets and income could prevent the Company from qualifying as a REIT.

As a REIT, the Company holds and operates certain of its assets through one or more wholly-owned TRSs. The Company's use of TRSs enables it to continue to engage in certain businesses while complying with REIT qualification requirements and also allows it to retain income generated by these businesses for reinvestment without the requirement of distributing those earnings. In the future, the Company may elect to reorganize and transfer certain assets or operations from its TRSs to the Company or other subsidiaries, including qualified REIT subsidiaries.

The Company's other equity securities are limited partnerships or limited liability companies which are treated as partnerships for federal and state income tax purposes. As a limited partner, the Company reports its allocable share of taxable income in computing its own taxable income. To the extent held by a TRS, the TRS's tax expense or benefit is included in the Consolidated Statements of Income based on the component of income or gains and losses to which such expense or benefit relates. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is recognized if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. It is expected that for the year ended December 31, 2018, and future periods, any deferred tax liability or asset generated will be related entirely to the assets and activities of the Company's TRSs.

If the Company ceased to qualify as a REIT, the Company, as a C corporation, would be obligated to pay federal and state income tax on its taxable income.

V. Recent Accounting Pronouncements – In February 2016, the FASB issued ASU 2016-02, Leases ("ASU 2016-02" or "ASC 842"), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018, with early adoption permitted. At adoption, the standard will be applied using a modified retrospective approach. Alternatively, ASU 2018-11, Leases (Topic 842) Targeted Improvements, allows the Company to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings and to continue to apply legacy guidance in ASC 840, Leases, including its disclosures requirements, in the comparative periods presented in the year of adoption. The Company has substantially completed its evaluation of the impact of the standard on its consolidated financial statements and related disclosures and expects that it will record a right of use asset and lease liability of less than $100 thousand on January 1, 2019 for its lessee operating leases.

The Company also concluded that Omega's long-term contract with the DOD to provide natural gas distribution to Fort Leonard Wood through Omega's pipeline distribution system on the military post meets the definition of a lease under ASC 842. Omega is the lessor in the contract and the lease is expected to be classified as an operating lease. The Company noted the non-lease component is the predominant component in the lease, and the timing and pattern of transfer of the lease component and the associated non-lease components are the same. Therefore, the Company expects to elect a practical expedient that allows lessors to not separate lease and related non-lease components if the non-lease components otherwise would be accounted for in accordance with the revenue standard under ASC 606. With the expected election of this practical expedient, the Company is expected to account for the DOD contract under the revenue standard, which is consistent with the Company's current accounting for the contract.

In August 2018, the FASB issued ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which modifies the disclosure requirements on fair value measurements. The amendments add disclosure requirements for the changes in unrealized gains and losses for the period that are held in other comprehensive income for recurring Level 3 fair value measurements as well as disclosure requirements for the range and weighted average of significant observable inputs used to develop Level 3 fair value measurements. The amendments also clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. ASU 2018-13 is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2019. Management does not expect the adoption of this standard to have a material impact on the Company's consolidated financial statements.

Leased Properties and Leases

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

LEASED PROPERTIES AND LEASES

As of December 31, 2018, the Company had two significant leases following the sale of the Portland Terminal Facility and termination of Portland Lease Agreement on December 21, 2018. The properties, located in Wyoming, Louisiana and the Gulf of Mexico, are leased on a triple-net basis to major tenants, described in the table below. These major tenants are responsible for the payment of all taxes, maintenance, repairs, insurance and other operating expenses relating to the leased properties. The long-term, triple-net leases generally have an initial term of 11 to 15 years with options for renewals. Lease payments are scheduled to increase at varying intervals during the initial term of the leases. The following table summarizes the significant leased properties, major tenants and lease terms:



Summary of Leased Properties, Major Tenants and Lease Terms
Property	Grand Isle Gathering System	Pinedale LGS
Location	Gulf of Mexico/Louisiana	Pinedale, WY
Tenant	Energy XXI GIGS Services, LLC	Ultra Wyoming LGS, LLC
Asset Description	Approximately 153 miles of offshore pipeline with total capacity of 120 thousand Bbls/d, including a 16-acre onshore terminal and saltwater disposal system.	Approximately 150 miles of pipelines and four central storage facilities.
Date Acquired	June 2015	December 2012
Initial Lease Term	11 years	15 years
Renewal Option	Equal to the lesser of 9-years or 75 percent of the remaining useful life	5-year terms
Current Monthly Rent Payments	7/1/17 - 6/30/18: $2,854,667 7/1/18 - 6/30/19: $2,860,917	$1,776,772⁽¹⁾
Estimated Useful Life	27 years	26 years
(1) Monthly rent payments increased to $1,812,307 beginning January 1, 2019.

The future contracted minimum rental receipts for all leases as of December 31, 2018, are as follows:



Future Minimum Lease Receipts
Year Ending December 31,	Amount
2019	$	58,347,190
2020	65,383,190
2021	71,345,190
2022	70,322,690
2023	67,274,690
Thereafter	193,639,760
Total	$	526,312,710

The table below displays the Company's individually significant leases as a percentage of total leased properties and total lease revenues for the periods presented:



	As a Percentage of ⁽¹⁾
	Leased Properties				Lease Revenues
	As of December 31,				For the Years Ended December 31,
	2018		2017		2018		2017		2016
Pinedale LGS ⁽²⁾	44.5	%	39.9	%	35.2	%	31.2	%	30.4	%
Grand Isle Gathering System	55.2	%	49.7	%	55.9	%	59.1	%	59.8	%
Portland Terminal Facility ⁽³⁾	—	%	10.1	%	8.8	%	9.6	%	9.7	%
(1) Insignificant leases are not presented; thus percentages may not sum to 100%.
(2) Pinedale LGS lease revenues include variable rent of $4.3 million and $587 thousand for the years ended December 31, 2018 and 2017, respectively.
(3) On December 21, 2018, the Portland Terminal Facility was sold to Zenith Terminals, terminating the Portland Lease Agreement. Refer to "Sale of the Portland Terminal Facility" section below.

The following table reflects the depreciation and amortization included in the accompanying Consolidated Statements of Income associated with the Company's leases and leased properties:



	For the Years Ended December 31,
	2018		2017		2016
Depreciation Expense
GIGS	$	10,836,590	$	9,754,596	$	8,605,506
Pinedale	8,869,440		8,869,440		8,869,440
Portland Terminal Facility ⁽¹⁾	1,243,769		1,275,660		843,084
United Property Systems	36,662		36,298		32,424
Total Depreciation Expense	$	20,986,461	$	19,935,994	$	18,350,454
Amortization Expense - Deferred Lease Costs
GIGS	$	30,564	$	30,564	$	30,564
Pinedale	61,368		61,368		61,368
Total Amortization Expense - Deferred Lease Costs	$	91,932	$	91,932	$	91,932
ARO Accretion Expense
GIGS	$	499,562	$	663,065	$	726,664
Total ARO Accretion Expense	$	499,562	$	663,065	$	726,664
(1) On December 21, 2018, the Portland Terminal Facility was sold to Zenith Terminals, terminating the Portland Lease Agreement. Refer to "Sale of the Portland Terminal Facility" section below.

The following table reflects the deferred costs that are included in the accompanying Consolidated Balance Sheets associated with the Company's leased properties:



	December 31, 2018		December 31, 2017
Net Deferred Lease Costs
GIGS	$	229,319	$	259,883
Pinedale	550,349		611,717
Total Deferred Lease Costs, net	$	779,668	$	871,600

TENANT INFORMATION

Substantially all of the lease tenants' financial results are driven by exploiting naturally occurring oil and natural gas hydrocarbon deposits beneath the Earth's surface. As a result, the tenants' financial results are highly dependent on the performance of the oil and natural gas industry, which is highly competitive and subject to volatility. During the terms of the leases, management monitors credit quality of its tenants by reviewing their published credit ratings, if available, reviewing publicly available financial statements, or reviewing financial or other operating statements, monitoring news reports regarding the tenants and their respective businesses and monitoring the timeliness of lease payments and the performance of other financial covenants under their leases.

Ultra Petroleum

On March 14, 2017, the bankruptcy court issued an order confirming its plan of reorganization and on April 12, 2017, UPL emerged from bankruptcy. UPL is currently subject to the reporting requirements under the Exchange Act and is required to file with the SEC annual reports containing audited financial statements and quarterly reports containing unaudited financial statements. Its SEC filings can be found at www.sec.gov. Its stock is trading on the NASDAQ under the symbol UPL. The Company makes no representation as to the accuracy or completeness of the audited and unaudited financial statements of UPL but has no reason to doubt the accuracy or completeness of such information. In addition, UPL has no duty, contractual or otherwise, to advise the Company of any events that might have occurred subsequent to the date of such financial statements which could affect the significance or accuracy of such information. None of the information in the public reports of UPL that are filed with the SEC is incorporated by reference into, or in any way form, a part of this filing.

Energy Gulf Coast/Cox Oil

The Company believes the terms of the Grand Isle Lease Agreement require copies of certain financial statement information be provided that the Company is required to file pursuant to SEC Regulation S-X, as described in Section 2340 of the SEC Financial Reporting Manual. Prior to October 29, 2018, EGC was subject to the reporting requirements of the Exchange Act and was required to file with the SEC annual reports containing audited financial statements and quarterly reports containing unaudited financial statements. So long as EGC remained a public reporting company, the Grand Isle Lease Agreement provided this requirement was fulfilled by EGC making its financial statements and reports publicly available through the SEC’s EDGAR system, in lieu of delivering such information directly to the Company. On October 18, 2018, EGC was acquired by an affiliate of privately-held Cox Oil. Upon the filing by EGC of a Form 15 with the SEC on October 29, 2018, EGC's SEC reporting obligations were suspended and it ceased to file such reports.

As EGC's financial information is no longer publicly available, the Company is engaged in discussions with Cox Oil/EGC concerning satisfaction of its obligations under the Grand Isle Lease Agreement to provide the required information to the Company for inclusion in its SEC reports. To date, Cox Oil has not yet fulfilled these obligations. It is the Company's intention to enforce the obligations of EGC to provide the financial statement information that the Company believes are required under the terms of the Grand Isle Lease Agreement. The Company expects to file the financial statement information that is required by Regulation S-X by amendment to this Annual Report on Form 10-K once such information is made available in accordance with the terms of the lease.

EGC's SEC filings prior to October 29, 2018 can be found at www.sec.gov. The Company makes no representation as to the accuracy or completeness of the audited and unaudited financial statements of EGC but has no reason to doubt the accuracy or completeness of such information. In addition, EGC has no duty, contractual or otherwise, to advise the Company of any events that might have occurred subsequent to the date of such financial statements which could affect the significance or accuracy of such information. None of the information in the public reports of EGC that are filed with the SEC is incorporated by reference into, or in any way form, a part of this filing.

Sale of the Portland Terminal Facility

On December 21, 2018, the Company entered into a Purchase and Sale Agreement with Zenith Energy Terminals Holdings, LLC ("Zenith Terminals"), the Company's tenant under the Portland Lease Agreement, to sell the Portland Terminal Facility and remaining interest in the Joliet Terminal ("Joliet") for an aggregate consideration of $61.0 million, net of transaction costs. Of the negotiated sale price of $61.0 million, approximately $56.0 million was paid in cash at closing, with the balance of $5.0 million in a promissory note, which was paid on January 7, 2019. The Company would be entitled to receive certain additional consideration, under a formula prescribed in the Agreement, in the event Zenith sells, or enters into a definitive agreement to sell, the Portland Terminal Facility to a third party for a price greater than $60.0 million within six months following December 21, 2018. The sale of the Portland Terminal Facility effectively terminated the Portland Lease Agreement, dated January 14, 2014, between the Company and Zenith Terminals.

The consideration was allocated to the Portland Terminal Facility ($60.6 million) and Joliet ($0.4 million) based on fair value information utilized in negotiating the transaction. As of December 21, 2018, the Portland Terminal Facility had a carrying value of $45.7 million. The sale of the Portland Terminal Facility resulted in a gain on sale of leased asset of approximately $11.7 million, net of deferred rent receivable of approximately $3.2 million. Prior to the sale of the Joliet interest, the equity interest was valued at its transacted value of $1.2 million from the required reinvestment during the Arc Logistics merger with Zenith in December 2017. The sale of the Joliet interest resulted in a realized loss on other equity securities of approximately $715 thousand. Both the gain on sale of leased asset, net and the realized loss on other equity securities are included as items in other income (expense) in the Consolidated Statements of Income for the year ended December 31, 2018. Refer to Note 10 ("Fair Value") for additional information on the sale of the interest in Joliet.

Acquisition of Pinedale LGS Non-Controlling Interest

On December 29, 2017, Pinedale LP I, a wholly-owned subsidiary of the Company, purchased Prudential's 18.95 percent non-controlling equity interest in Pinedale LP for considerations of approximately $32.9 million. The carrying value of Prudential's non-controlling interest at the transaction date was $27.3 million. As the transaction resulted in an increase in the Company's interest in Pinedale LP, but not a change in control, the purchase was accounted for as an equity transaction. The difference between the fair value of the purchase consideration and the carrying value of the non-controlling interest of $5.6 million was recognized in additional paid-in-capital and attributable to the Company. Upon closing the transaction, the Company indirectly owns 100 percent of Pinedale LP through its wholly-owned subsidiaries Pinedale GP and Pinedale LP I and there is no longer a noncontrolling interest in the Company's consolidated financial statements.

Transportation and Distribution Revenue

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Transportation and Distribution Revenue

TRANSPORTATION AND DISTRIBUTION REVENUE

The Company's contracts related to transportation and distribution revenue are primarily comprised of a mix of natural gas supply, transportation and distribution performance obligations, as well as limited performance obligations related to system maintenance and expansion. Refer to Note 2 ("Significant Accounting Policies") for additional details on the Company's revenue recognition guidance under ASC 606.

The table below summarizes the Company's contract asset and contract liability balances related to its transportation and distribution revenue contracts as of December 31, 2018:



	Contract Asset⁽¹⁾			Contract Liability⁽²⁾
Beginning Balance January 1, 2018	$	328,033		$	—
Cumulative Transition Adjustment Upon Adoption of ASC 606	—			3,307,109
Unrecognized Performance Obligations	(836,628		)	3,307,109
Recognized Performance Obligations	689,174			(91,864		)
Ending Balance December 31, 2018	$	180,579		$	6,522,354
(1) The contract asset balance is included in prepaid expenses and other assets in the Consolidated Balance Sheets.
(2) The contract liability balance is included in unearned revenue in the Consolidated Balance Sheets.

Based on a downward revision of the rate during the Company's long-term natural gas transportation contract with Spire, ASC 606 requires the Company to record the contractual transaction price, and therefore aggregate revenue, from the contract ratably over the term of the contract. Accordingly, on January 1, 2018, the Company recorded a cumulative adjustment to recognize a contract liability of approximately $3.3 million, and a corresponding reduction to beginning equity (net of deferred tax impact). The adjustment reflects the difference in amounts previously recognized as invoiced, versus cumulative revenues earned under the contract on a straight-line basis in accordance with ASC 606, as of the date of adoption. The contract liability continued to accumulate additional unrecognized performance obligations at a rate of approximately $992 thousand per quarter until the contractual rate decrease took effect in November 2018. Following the rate decline, recognized performance obligations exceeded amounts invoiced and the contract liability will decline at a rate of approximately $138 thousand per quarter through the end of the contract in October 2030. As of December 31, 2018, the revenue allocated to the remaining performance obligation under this contract is approximately $63.5 million.

The following is a breakout of the Company's transportation and distribution revenue for the years ended December 31, 2018, 2017 and 2016:



	For the Years Ended December 31,
	2018		2017		2016
Natural gas transportation contracts	64.3	%	71.5	%	67.6	%
Natural gas distribution contracts	26.8	%	20.4	%	19.0	%

In accordance with ASC 606 transition disclosure requirements, the cumulative effect of changes made to the Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASC 606 were as follows:



Balance Sheet	Balance at December 31, 2017		Adjustments Due to ASC 606			Balance at January 1, 2018
Assets
Deferred Tax Asset	$	2,244,629	$	857,864		$	3,102,493
Liabilities
Unearned revenue	3,397,717		3,307,109			6,704,826
Equity
Additional paid in capital	331,773,716		(2,449,245		)	329,324,471

The tables below disclose the impact of adoption on the Consolidated Balance Sheet and Consolidated Statement of Income as of and for the year ended December 31, 2018:



	As of December 31, 2018
Balance Sheet	As Reported		Balances Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Assets
Deferred Tax Asset	$	4,948,203	$	3,256,304	$	1,691,899
Liabilities
Unearned revenue	6,552,049		29,695		6,522,354
Equity
Additional paid in capital	320,295,969		325,126,424		(4,830,455		)



	For the Year Ended December 31, 2018
Statement of Income	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Revenues
Transportation and distribution revenue	$	16,484,236		$	19,699,481		$	(3,215,245	)
Taxes
Deferred tax benefit	(1,833,340		)	(999,305		)	(834,035		)

Financing Notes Receivable	12 Months Ended
Financing Notes Receivable	Dec. 31, 2018
Receivables [Abstract]
FINANCING NOTES RECEIVABLE	FINANCING NOTES RECEIVABLE Four Wood Financing Note Receivable On December 31, 2014, a subsidiary of the Company, Four Wood Corridor, LLC ("Four Wood Corridor"), entered into a Loan Agreement with SWD Enterprises, LLC ("SWD Enterprises"), a wholly-owned subsidiary of Four Wood Energy, pursuant to which Four Wood Corridor made a loan to SWD Enterprises for $4.0 million (the "REIT Loan"). Concurrently, the Company's TRS, Corridor Private entered into a TRS Loan Agreement with SWD Enterprises, pursuant to which Corridor Private made a loan to SWD Enterprises for $1.0 million (the "TRS Loan"). The proceeds of the REIT Loan and the TRS Loan were used by SWD Enterprises and its affiliates to finance the acquisition of real and personal property that provides saltwater disposal services for the oil and natural gas industry, and to pay related expenses. For the REIT Loan from Four Wood Corridor, interest initially accrued on the outstanding principal at an annual base rate of 12 percent. For the TRS Loan from Corridor Private, interest initially accrued on the outstanding principal at an annual base rate of 13 percent. The base rates of both loans were to increase by 2 percent of the current base rate per year. The REIT Loan and the TRS Loan are secured by the real property and equipment held by SWD Enterprises and the outstanding equity in SWD Enterprises and its affiliates. The REIT Loan and the TRS Loan are also guaranteed by all affiliates of SWD Enterprises. As a result of the decreased economic activity by SWD Enterprises, the Company recorded a provision for loan loss with respect to the SWD loans. The Consolidated Statement of Income for the year ended December 31, 2016 reflects a provision for loan loss of $3.5 million, which includes $71 thousand of deferred origination income and $98 thousand of interest accrued under the original loan agreements. The loans were placed on non-accrual status during the first quarter of 2016. During the first quarter of 2018, the Company recorded an additional provision for loan loss on the SWD loans of $500 thousand. Prior to the sale of the real property and equipment securing the loans to a new third-party debtor in the fourth quarter of 2018 as discussed further below, the balance of the SWD loans was valued based on the enterprise value of SWD Enterprises, the collateral value supporting the loans, at $1.0 million during 2018 and $1.5 million as of December 31, 2017, respectively. On December 12, 2018, Four Wood Corridor granted SWD Enterprises approval to sell the assets securing the REIT Loan and the TRS Loan, as described above, to Compass SWD, LLC ("Compass SWD") in exchange for Compass SWD executing a new loan agreement with Four Wood Corridor for $1.3 million (the "Compass REIT Loan") and approximately $237 thousand in cash consideration, net of costs facilitating the close. The Compass REIT Loan is scheduled to mature on June 15, 2019 and interest is accrued on the outstanding principal at an annual rate of LIBOR plus 6 percent. As of December 31, 2018, the Compass REIT Loan is valued at $1.3 million. As a result of the transaction, SWD Enterprises was released from the terms of the REIT Loan and the TRS Loan, and the Company recognized a provision for loan gain of $37 thousand in the Consolidated Statements of Income for the year ended December 31, 2018. Black Bison Financing Notes During 2014, the Company's wholly-owned subsidiaries, Corridor Bison and CorEnergy BBWS, entered into loan agreements with Black Bison Water Services, LLC ("Black Bison WS") totaling $12.0 million and $3.3 million, respectively (the "Black Bison WS Loan" and the "TRS Loan" and, together the "Black Bison Loans"). The purpose of the loans was to finance the acquisition and development of real property to provide water sourcing, water disposal, or water treating and recycling services for the oil and natural gas industry. The Black Bison Loans were set to mature on March 31, 2024, and were set to amortize by quarterly payments beginning on March 31, 2015. The Loans were secured by the real property and equipment held by Black Bison WS and the outstanding equity in Black Bison WS and its affiliates. The Black Bison Loans were also guaranteed by all affiliates of Black Bison WS and further secured by all assets of those guarantors. Due to reduced drilling activity in the Black Bison area of operations, Black Bison WS requested, and the Company granted, certain temporary forbearance waivers in June 2015 and August 2015 that had the effect of excusing the borrower from full performance under the terms of the Black Bison Loans while such waivers were in effect. None of the granted forbearance agreements were deemed to be concessions. As a result of the continued inability of the borrower to perform under the terms of these loans, even as temporarily modified by the waivers, effective December 31, 2015, the Company recorded a provision for loan loss with respect to the Black Bison Loans of $13.8 million. On February 29, 2016, the Company foreclosed on 100 percent of the equity of BB Intermediate, the borrower of the Black Bison financing notes, as well as all of the other collateral securing the Black Bison Loans. The foreclosure was accepted in satisfaction of the $2.0 million total outstanding loan balance. On June 16, 2016, the Company entered into an asset sale agreement with Expedition Water Solutions for the sale of specified disposal wells and related equipment as outlined in the sale agreement. Consideration received by the company included $748 thousand cash, net of fees, and the future right to royalty payments, which was recorded at its fair value of $450 thousand. The rights to future cash payments are tied to the future volumes of water disposed of in each of the wells sold. The Company did not record any financing revenue related to the Black Bison Loans for the year ended December 31, 2016 or any subsequent period. These notes were considered by the Company to be on non-accrual status and were reflected as such in the financial statements. For the year ended December 31, 2016, the Company recorded $832 thousand in provision for loan loss related to the Black Bison Loans.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting and tax purposes. Components of the Company's deferred tax assets and liabilities as of December 31, 2018 and 2017, are as follows:



Deferred Tax Assets and Liabilities
	December 31, 2018			December 31, 2017
Deferred Tax Assets:
Deferred contract revenue	$	1,691,899		$	—
Net operating loss carryforwards	5,424,671			957,719
Loan loss provision	263,508			247,814
Basis reduction of investment in partnerships	—			261,549
Other	95,695			2,965,321
Sub-total	$	7,475,773		$	4,432,403
Deferred Tax Liabilities:
Net unrealized gain on investment securities	$	—		$	(342,669	)
Cost recovery of leased and fixed assets	(2,508,547		)	(1,845,105		)
Other	(19,023		)	—
Sub-total	$	(2,527,570	)	$	(2,187,774	)
Total net deferred tax asset	$	4,948,203		$	2,244,629

As of December 31, 2018, the total deferred tax assets and liabilities presented above relate to the Company's TRSs. The Company recognizes the tax benefits of uncertain tax positions only when the position is "more likely than not" to be sustained upon examination by the tax authorities based on the technical merits of the tax position. The Company's policy is to record interest and penalties on uncertain tax positions as part of tax expense. Tax years subsequent to the year ended December 31, 2014, remain open to examination by federal and state tax authorities.

The Tax Cuts and Jobs Act (the "2017 Tax Act") was enacted on December 22, 2017. The 2017 Tax Act reduced the US federal corporate tax rate from 35 percent to 21 percent. The 2017 Tax Act also repealed the alternative minimum tax for corporations. In December 2018, the Company completed its accounting for the tax effects of enactment of the 2017 Tax Act as allowed under SEC Staff Accounting Bulletin 118. The Company remeasured deferred tax assets and liabilities based on the updated rates at which they are expected to reverse in the future, which resulted in a $1.3 million transition adjustment that reduced net deferred tax assets. One of the Company's TRSs qualifies for the regulated utility and real property business exceptions under the new proposed treasury regulations for Section 163(j). Therefore, previously disqualified interest from years prior to 2018 was deducted and resulted in a reclassification from other deferred tax assets to deferred tax assets for net operating loss carryforwards during the year ended December 31, 2018. Refer to additional discussion of the Company's net operating loss carryforwards below. The Company will continue to assess the impact of new tax legislation, as well as any future regulations and updates provided by the tax authorities.

Total income tax expense (benefit) differs from the amount computed by applying the federal statutory income tax rate of 21 percent for the year ended December 31, 2018 and 35 percent for the years ended December 31, 2017 and 2016, to income or loss from operations and other income and expense for the years presented, as follows:



Income Tax Expense (Benefit)
	For the Years Ended December 31,
	2018			2017			2016
Application of statutory income tax rate	$	8,671,562		$	12,231,838		$	10,219,573
State income taxes, net of federal tax benefit	(583,186		)	352,708			26,215
Income of Real Estate Investment Trust not subject to tax	(10,339,520		)	(11,975,853		)	(10,663,371		)
Tax reform impact	—			1,262,444			—
Other	(167,582		)	474,181			(46,837		)
Total income tax expense (benefit)	$	(2,418,726	)	$	2,345,318		$	(464,420	)

Total income taxes are computed by applying the federal statutory rate of 21 percent plus a blended state income tax rate. Corridor Public Holdings, Inc. and Corridor Private Holdings, Inc. had a blended state rate of approximately 5.53 percent, 3.78 percent and 3.78 percent for the years ended December 31, 2018, 2017 and 2016, respectively. CorEnergy BBWS, Inc. had a blended state income tax rate of approximately 5 percent for the year ended December 31, 2018 due to its operations in Missouri. CorEnergy BBWS, Inc. did not record a provision for state income taxes for the years ended December 31, 2017 and 2016 because it only operated in Wyoming, which does not have state income tax. Because Corridor MoGas, Inc. primarily only operates in the state of Missouri, a blended state income tax rate of 5 percent was used for the operation of the TRS for the years ended December 31, 2018, 2017 and 2016. Prior to its reorganization to a QRS at the end of 2017, Mowood Corridor, Inc. had a blended state income tax rate of 5 percent for the years ended December 31, 2017 and 2016. For the years ended December 31, 2018, 2017 and 2016, all of the income tax expense (benefit) presented above relates to the assets and activities held in the Company's TRSs. The components of income tax expense (benefit) include the following for the periods presented:



Components of Income Tax Expense (Benefit)
	For the Years Ended December 31,
	2018			2017			2016
Current tax expense (benefit)
Federal	$	(413,248	)	$	2,498,363		$	(321,720	)
State (net of federal tax benefit)	(172,138		)	333,295			8,613
Total current tax expense (benefit)	$	(585,386	)	$	2,831,658		$	(313,107	)
Deferred tax expense (benefit)
Federal	$	(1,422,292	)	$	(505,753	)	$	(168,915	)
State (net of federal tax benefit)	(411,048		)	19,413			17,602
Total deferred tax benefit	$	(1,833,340	)	$	(486,340	)	$	(151,313	)
Total income tax expense (benefit), net	$	(2,418,726	)	$	2,345,318		$	(464,420	)

As of December 31, 2017 and 2016, the TRSs had a cumulative net operating loss of $4.1 million and $3.0 million, respectively. For the year ended December 31, 2018, the TRSs incurred a net operating loss of approximately $17.1 million, resulting in a cumulative net operating loss of approximately $21.0 million as of December 31, 2018. The net operating loss generated during the year ended December 31, 2018 may be carried forward indefinitely, subject to limitation. Net operating losses generated for years prior to December 31, 2018 may be carried forward for 20 years. If not utilized, the net operating loss will expire as follows: $328 thousand, $176 thousand, $1.4 million and $2.0 million in the years ending December 31, 2034, 2035, 2036 and 2037, respectively. The amount of deferred tax asset for net operating losses as of December 31, 2018 includes amounts for the year ended December 31, 2018.

The aggregate cost of securities for federal income tax purposes and securities with unrealized appreciation and depreciation, were as follows:



Aggregate Cost of Securities for Income Tax Purposes
	December 31, 2018		December 31, 2017
Aggregate cost for federal income tax purposes	$	408,051	$	3,063,430
Gross unrealized appreciation	—		325,130
Gross unrealized depreciation	—		—
Net unrealized appreciation	$	—	$	325,130

The Company provides the following tax information to its common stockholders pertaining to the character of distributions paid during tax years 2018, 2017 and 2016. For a stockholder that received all distributions in cash during 2018, 71.3 percent will be treated as ordinary dividend income, none will be treated as return of capital and 28.7 percent will be treated as capital gain distributions. Of the ordinary dividend income, none will be treated as qualified dividend income for a non-corporate taxpayer; all of the ordinary dividend income may be taken into account on an individual's section 199A deduction, subject to the applicable holding period. Of the capital gain distribution, 13.4 percent is subject to a maximum 25 percent federal income tax rate and 15.3 percent is subject to a maximum 20 percent federal income tax rate. The per share characterization by quarter is reflected in the following tables:



2018 Common Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Unrecaptured Section 1250 Gain		Section 199A Dividends
2/14/2018	2/13/2018	2/28/2018	$	0.7500	$	0.5346	$	—	$	0.2154	$	0.1007	$	0.5346
5/17/2018	5/16/2018	5/31/2018	0.7500		0.5346		—		0.2154		0.1007		0.5346
8/17/2018	8/16/2018	8/31/2018	0.7500		0.5346		—		0.2154		0.1007		0.5346
11/15/2018	11/14/2018	11/30/2018	0.7500		0.5346		—		0.2154		0.1007		0.5346
Total 2018 Distributions			$	3.0000	$	2.1384	$	—	$	0.8616	$	0.4028	$	2.1384



2017 Common Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
2/13/2017	2/9/2017	2/28/2017	$	0.7500	$	0.5925	$	0.0785	$	—	$	0.1575
5/16/2017	5/12/2017	5/31/2017	0.7500		0.5925		0.0785		—		0.1575
8/17/2017	8/15/2017	8/31/2017	0.7500		0.5925		0.0785		—		0.1575
11/15/2017	11/14/2017	11/30/2017	0.7500		0.5925		0.0785		—		0.1575
Total 2017 Distributions			$	3.0000	$	2.3700	$	0.3140	$	—	$	0.6300



2016 Common Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
02/12/2016	02/10/2016	02/29/2016	$	0.7500	$	0.2955	$	—	$	—	$	0.4545
05/13/2016	05/11/2016	05/31/2016	0.7500		0.2955		—		—		0.4545
08/17/2016	08/15/2016	08/31/2016	0.7500		0.2955		—		—		0.4545
11/15/2016	11/11/2016	11/30/2016	0.7500		0.2955		—		—		0.4545
Total 2016 Distributions			$	3.0000	$	1.1820	$	—	$	—	$	1.8180

The Company provides the following tax information to its preferred stockholders pertaining to the character of distributions paid during the 2018, 2017 and 2016 tax years. For a stockholder that received all distributions in cash during 2018, 71.3 percent will be treated as ordinary dividend income, none will be treated as return of capital and 28.7 percent will be treated as capital gain distributions. Of the ordinary dividend income, none will be treated as qualified dividend income for a non-corporate taxpayer; all of the ordinary dividend income may be taken into account on an individual's section 199A deduction, subject to the applicable holding period. Of the capital gain distribution, 13.4 percent is subject to a maximum 25 percent federal income tax rate and 15.3 percent is subject to a maximum 20 percent federal income tax rate. The per share characterization by quarter is reflected in the following tables:



2018 Preferred Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Unrecaptured Section 1250 Gain		Section 199A Dividends
2/14/2018	2/13/2018	2/28/2018	$	0.4609	$	0.3285	$	—	$	0.1324	$	0.0619	$	0.3285
5/17/2018	5/16/2018	5/31/2018	0.4609		0.3285		—		0.1324		0.0619		0.3285
8/17/2018	8/16/2018	8/31/2018	0.4609		0.3285		—		0.1324		0.0619		0.3285
11/15/2018	11/14/2018	11/30/2018	0.4609		0.3285		—		0.1324		0.0619		0.3285
Total 2018 Distributions			$	1.8436	$	1.3140	$	—	$	0.5296	$	0.2476	$	1.3140



2017 Preferred Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
2/13/2017	2/9/2017	2/28/2017	$	0.4609	$	0.4609	$	0.0611	$	—	$	—
5/16/2017	5/12/2017	5/31/2017	0.4609		0.4609		0.0611		—		—
8/17/2017	8/15/2017	8/31/2017	0.4609		0.4609		0.0611		—		—
11/15/2017	11/14/2017	11/30/2017	0.4609		0.4609		0.0611		—		—
Total 2017 Distributions			$	1.8436	$	1.8436	$	0.2444	$	—	$	—



2016 Preferred Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
02/12/2016	02/10/2016	02/29/2016	$	0.4609	$	0.4609	$	—	$	—	$	—
05/13/2016	05/11/2016	05/31/2016	0.4609		0.4609		—		—		—
08/17/2016	08/15/2016	08/31/2016	0.4609		0.4609		—		—		—
11/15/2016	11/11/2016	11/30/2016	0.4609		0.4609		—		—		—
Total 2016 Distributions			$	1.8436	$	1.8436	$	—	$	—	$	—

The Company elected, effective for the 2013 tax year, to be treated as a REIT for federal income tax purposes. The Company's REIT election, assuming continued compliance with the applicable tests, will continue in effect for subsequent tax years. The Company satisfied the annual income test and the quarterly asset tests necessary for us to qualify to be taxed as a REIT for 2018, 2017 and 2016. Distributions made during 2017 were treated as qualifying dividend income related to taxable dividends received from the Company's TRSs that were received and distributed in the same year.

Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment consist of the following:



Property and Equipment
	December 31, 2018			December 31, 2017
Land	$	580,000		$	580,000
Natural gas pipeline	124,306,175			124,303,315
Vehicles and trailers	696,164			650,634
Office equipment and computers	268,559			268,559
Gross property and equipment	$	125,850,898		$	125,802,508
Less: accumulated depreciation	(15,969,346		)	(12,643,636		)
Net property and equipment	$	109,881,552		$	113,158,872

Depreciation expense was $3.4 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Concentrations	12 Months Ended
Concentrations	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Concentrations	CONCENTRATIONS The Company has customer concentrations through major tenants at its two significant leased properties as discussed fully in Note 3 ("Leased Properties And Leases"). In addition to these lease concentrations, contracted transportation revenues from the Company's subsidiary, MoGas, to its largest customer, Spire (formally Laclede Gas Company), represented approximately 6 percent, 11 percent and 12 percent of consolidated revenues for the years ended December 31, 2018, 2017 and 2016, respectively. The Company's contracted transportation revenues with Spire for the year ended December 31, 2018 were impacted by the adoption of ASC 606, which required the Company to record the contract with Spire on a straight-line basis and record a transition adjustment on January 1, 2018. Refer to Note 4 ("Transportation And Distribution Revenue") for additional details.

Management Agreement

12 Months Ended

Dec. 31, 2018

Agreements [Abstract]

MANAGEMENT AGREEMENT

The Company has executed a Management Agreement with Corridor InfraTrust Management, LLC ("Corridor"), a related party. Under the Management Agreement, Corridor (i) presents the Company with suitable acquisition opportunities consistent with the investment policies and objectives of the Company, (ii) is responsible for the day-to-day operations of the Company and (iii) performs such services and activities relating to the assets and operations of the Company as may be appropriate. The Management Agreement, which does not have a specific term and will remain in place unless terminated by the Company or Corridor in accordance with its terms, does give a majority of the stockholders of the Company, or two-thirds of the independent directors, the ability to terminate the agreement for any reason on thirty (30) days' prior written notice, so long as that notice is delivered with a termination payment equal to three times the base management fee and incentive fee paid to the manager in the last four quarters.

The terms of the Management Agreement provide for a quarterly management fee to be paid to Corridor equal to 0.25 percent (1.00 percent annualized) of the value of the Company's Managed Assets as of the end of each quarter. "Managed Assets" means the total assets of the Company (including any securities receivables, other personal property or real property purchased with or attributable to any borrowed funds) minus (A) the initial invested value of all non-controlling interests, (B) the value of any hedged derivative assets, (C) any prepaid expenses and (D) all of the accrued liabilities other than (1) deferred taxes and (2) debt entered into for the purpose of leverage. For purposes of the definition of Managed Assets, the Company's securities portfolio will be valued at then current market value. For purposes of the definition of Managed Assets, other personal property and real property assets will include real and other personal property owned and the assets of the Company invested, directly or indirectly, in equity interests in or loans secured by real estate or personal property (including acquisition related costs and acquisition costs that may be allocated to intangibles or are unallocated), valued at the aggregate historical cost, before reserves for depreciation, amortization, impairment charges or bad debts or other similar noncash reserves.

The Management Agreement also provides for payment of a quarterly incentive fee of 10 percent of the increase in distributions paid over a distribution threshold equal to $0.625 per share per quarter, and requires that at least half of any incentive fees that are paid be reinvested in the Company's common stock. The foregoing description of the terms of the May 1, 2015 Management Agreement is qualified in its entirety by reference to the full terms of such agreement, which is incorporated by reference as an exhibit to this Report.

During the years ended December 31, 2017 and 2016 the Company and the Manager agreed to the following modifications to the fee arrangements described above:

•

In light of the provisions for loan losses recognized by the Company on certain of its energy infrastructure financing investments (collectively, the "Underperforming Loans") during 2015 and the first quarter of 2016, the Manager voluntarily recommended, and the Company agreed, that effective on and after the Company's March 31, 2016 balance sheet date, solely for the purpose of computing the value of the Company's Managed Assets in calculating the quarterly management fee under the terms of the Management Agreement, that portion of the Management Fee attributable to the Company's investment in the Underperforming Loans shall be based on the estimated net realizable value of such loans, which shall not exceed the amount invested in the Underperforming Loans as of the end of the quarter for which the Management Fee is to be calculated.


•	During the year ended December 31, 2016, the Manager voluntarily recommended, and the Company agreed, that the Manager would waive $88 thousand of the total $595 thousand incentive fee that would have otherwise been payable under the provisions of the Management Agreement with respect to dividends paid on the Company's common stock.


•	During the year ended December 31, 2017, the Manager voluntarily recommended, and the Company agreed, that the Manager would waive $100 thousand of the total $595 thousand incentive fee that would otherwise be payable under the provisions of the Management Agreement with respect to dividends paid on the Company's common stock.


•	In order to ensure equitable application of the quarterly management fee provisions of the Management Agreement for the acquisition of Prudential's minority limited partner interest in Pinedale LP, which closed on December 29, 2017, the Manager waived any incremental management fee due as of the end of the fourth quarter of 2017 based on the net impact of the Pinedale LP acquisition.

Fees incurred under the Management Agreement for the years ended December 31, 2018, 2017 and 2016 were $7.6 million, $7.2 million and $7.2 million, respectively, and are reported in the General and Administrative line item on the Consolidated Statements of Income.

The Company pays Corridor, as the Company's Administrator pursuant to an Administrative Agreement, an administrative fee equal to an annual rate of 0.04 percent of the value of the Company's Managed Assets, with a minimum annual fee of $30 thousand. Fees incurred under the Administrative Agreement for the years ended December 31, 2018, 2017 and 2016 were $280 thousand, $269 thousand and $266 thousand, respectively, and are reported in the General and Administrative line item on the Consolidated Statements of Income.

Fair Value

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

FAIR VALUE

As of December 31, 2017, the Company's investments in Lightfoot and Joliet were its only remaining private company other equity securities. These other equity securities were also the only assets and liabilities measured at fair value on a recurring basis. Certain private equity investments were sold or disposed of by the end of 2018. Refer to the "Lightfoot" and "Joliet" sections below for additional details.

The following tables set forth the Company's assets and liabilities measured at fair value on a recurring basis, by input level within the fair value hierarchy, as of December 31, 2017:



	December 31, 2017
	Total		Fair Value
	Total		Level 1		Level 2		Level 3
Assets:
Other equity securities	$	2,958,315	$	—	$	—	$	2,958,315
Total Assets	$	2,958,315	$	—	$	—	$	2,958,315

The changes for all Level 3 securities measured at fair value on a recurring basis using significant unobservable inputs for the years ended December 31, 2018 and 2017, are as follows:



Level 3 Rollforward
For the Year Ended 2018	Fair Value Beginning Balance		Acquisitions		Disposals			Total Realized and Unrealized Gains (Losses) Included in Net Income			Return of Capital Adjustments Impacting Cost Basis of Securities			Fair Value Ending Balance		Changes in Unrealized Gains Included In Net Income, Relating to Securities Still Held ⁽¹⁾
Other equity securities	$	2,958,315	$	—	$	(449,067	)	$	(1,845,309	)	$	(663,939	)	$	—	$	—
Total	$	2,958,315	$	—	$	(449,067	)	$	(1,845,309	)	$	(663,939	)	$	—	$	—

For the Year Ended 2017
Other equity securities	$	9,287,209	$	1,161,034	$	(8,752,201	)	$	1,531,827		$	(269,554	)	$	2,958,315	$	295,161
Total	$	9,287,209	$	1,161,034	$	(8,752,201	)	$	1,531,827		$	(269,554	)	$	2,958,315	$	295,161
(1) Located in Net realized and unrealized gain on other equity securities in the Consolidated Statements of Income

The Company utilizes the beginning of reporting period method for determining transfers between levels. There were no transfers between levels 1, 2 or 3 for the years ended December 31, 2018 and 2017.

Valuation Techniques and Unobservable Inputs

The Company's other equity securities, which represent securities issued by private companies, were classified as Level 3 assets and the Company elected to report at fair value under the fair value option. Significant judgment was required in selecting the assumptions used to determine the fair values of these investments.

Lightfoot

The Company's Lightfoot investment consisted of a 6.6 percent and 1.5 percent equity interest in Lightfoot LP and Lightfoot GP, respectively. As of December 31, 2017, Lightfoot's only material asset consisted of its remaining investment in Gulf LNG, a 1.5 billion cubic feet per day ("bcf/d") receiving, storage and regasification terminal in Pascagoula, Mississippi.

On December 21, 2017, Zenith closed its acquisition of Arc Logistics. Under the terms of the agreement, Lightfoot LP received $14.50 per common unit of Arc Logistics. Lightfoot LP additionally received $36.2 million for the sale of 5.52 percent of its interest in Gulf LNG to Zenith (the "Unconditional Interest"). In addition, Zenith was to purchase the remaining 4.16 percent of Lightfoot's Gulf LNG interest (the "Conditional Interest") for an additional $27.3 million upon a successful outcome (as defined) of the Gulf LNG arbitration with Eni USA, as discussed further below. Lightfoot GP received $94.5 million for 100 percent of the membership interests in Arc Logistics GP. Under the terms of the merger, at closing, Lightfoot LP and Lightfoot GP used a portion of their sale proceeds to purchase an approximate 13.5 percent interest in Joliet.

Subsequent to closing of the transaction, the Company received $7.6 million in cash proceeds related to its pro rata portion of the sale proceeds of Lightfoot, including proceeds related to Arc Logistics common units, the Unconditional Interest in Gulf LNG and membership interests in Arc Logistics GP. Amounts received are net of approximately $1.2 million related to the Company's required reinvestment in Joliet.

On March 1, 2016, an affiliate of Gulf LNG received a Notice of Disagreement and Disputed Statements and a Notice of Arbitration from Eni USA, one of the two companies that had entered into a terminal use agreement for capacity of the liquefied natural gas facility owned by Gulf LNG and its subsidiaries. On June 29, 2018, the arbitration panel delivered its award, and the panel's ruling calls for the termination of the agreement and Eni USA's payment of compensation to Gulf LNG. On September 25, 2018, Gulf LNG filed a lawsuit against Eni USA in the Delaware Court of Chancery to enforce the award. Further, on September 28, 2018, Gulf LNG filed a lawsuit against Eni S.p.A. in the Supreme Court of the State of New York in New York County to enforce a guarantee agreement entered by Eni S.p.A. in connection with the terminal use agreement.

During the third quarter of 2018, the fair value of the Lightfoot investment was reduced to zero due to additional market information. In the fourth quarter of 2018, the Company received a distribution representing a return of capital totaling approximately $667 thousand due to the disposition of the remaining asset interest. The Company recognized a realized loss of $1.1 million for the year ended December 31, 2018. The loss is recorded in net realized and unrealized gain (loss) on other equity securities in the Consolidated Statements of Income.

Joliet

As of December 31, 2017, the Company owned a 0.6 percent interest in Joliet, which was acquired in conjunction with the terms of Zenith's acquisition of Arc Logistics discussed above.

On December 21, 2018, the Company sold its interest in Joliet, along with the Portland Terminal Facility, to Zenith Terminals for approximately $446 thousand. The sale resulted in a realized loss on other equity securities of approximately $715 thousand included in net realized and unrealized gain (loss) on other equity securities in the Consolidated Statements of Income for the year ended December 31, 2018.

The fair value of the Company's private company investments at December 31, 2017 was approximately $3.0 million, which was determined using recent transaction data and expected proceeds, discounted using a risk-free rate through the expected receipt date. Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company's investment may fluctuate from period to period. Additionally, the fair value of the Company's investment may differ from the values that would have been used had a ready market existed for such investment and may differ materially from the values that the Company may ultimately realize.

The following section describes the valuation methodologies used by the Company for estimating fair value for financial instruments not recorded at fair value, but fair value is included for disclosure purposes only, as required under disclosure guidance related to the fair value of financial instruments.

Cash and Cash Equivalents — The carrying value of cash, amounts due from banks, federal funds sold and securities purchased under resale agreements approximates fair value.

Financing Notes Receivable — The financing notes receivable are valued on a non-recurring basis. The financing notes receivable are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Financing Notes with carrying values that are not expected to be recovered through future cash flows are written-down to their estimated net realizable value. Estimates of realizable value are determined based on unobservable inputs, including estimates of future cash flow generation and value of collateral underlying the notes.

Secured Credit Facilities — The fair value of the Company's long-term variable-rate and fixed-rate debt under its secured credit facilities approximates carrying value.

Unsecured Convertible Senior Notes — The fair value of the unsecured convertible senior notes is estimated using quoted market prices.



Carrying and Fair Value Amounts
	Level within Fair Value Hierarchy	December 31, 2018				December 31, 2017
	Level within Fair Value Hierarchy	Carrying Amount ⁽¹⁾		Fair Value		Carrying Amount ⁽¹⁾		Fair Value
Financial Assets:
Cash and cash equivalents	Level 1	$	69,287,177	$	69,287,177	$	15,787,069	$	15,787,069
Financing notes receivable (Note 5)	Level 3	1,300,000		1,300,000		1,500,000		1,500,000
Financial Liabilities:
Secured credit facilities	Level 2	$	37,261,109	$	37,261,109	$	40,745,354	$	40,745,354
Unsecured convertible senior notes	Level 1	112,777,271		119,378,982		112,032,083		139,101,660
(1) The carrying value of debt balances are presented net of unamortized original issuance discount and debt issuance costs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

DEBT

The following is a summary of debt facilities and balances as of December 31, 2018 and 2017:



	Total Commitment or Original Principal		Quarterly Principal Payments			December 31, 2018				December 31, 2017
	Total Commitment or Original Principal		Quarterly Principal Payments		Maturity Date	Amount Outstanding		Interest Rate		Amount Outstanding		Interest Rate
CorEnergy Secured Credit Facility:
CorEnergy Revolver	$	160,000,000	$	—	7/28/2022	$	—	5.25	%	$	—	4.32	%
MoGas Revolver	1,000,000		—		7/28/2022	—		5.25	%	—		4.32	%
Omega Line of Credit	1,500,000		—		7/31/2019	—		6.50	%	—		5.57	%
Pinedale Secured Credit Facility:
Amended Pinedale Term Credit Facility	41,000,000		882,000		12/29/2022	37,472,000		6.50	%	41,000,000		6.50	%
7.00% Unsecured Convertible Senior Notes	115,000,000		—		6/15/2020	113,958,000		7.00	%	114,000,000		7.00	%
Total Debt						$	151,430,000			$	155,000,000
Less:
Unamortized deferred financing costs ⁽¹⁾						$	283,278			$	375,309
Unamortized discount on 7.00% Convertible Senior Notes						1,108,342				1,847,254
Long-term debt, net of deferred financing costs						$	150,038,380			$	152,777,437
Debt due within one year						$	3,528,000			$	3,528,000
(1) Unamortized deferred financing costs related to the Company's revolving credit facilities are included in Deferred Costs in the Assets section of the Consolidated Balance Sheets. Refer to the "Deferred Financing Costs" paragraph below.

CorEnergy Credit Facilities

On July 8, 2015, the Company amended and upsized its then current $93.0 million credit facility with Regions Bank (as lender and administrative agent for the other participating lenders) to provide borrowing commitments of $153.0 million, consisting of (i) an increase in the CorEnergy Revolver at the CorEnergy parent entity level to $105.0 million, (ii) a $45.0 million term loan at the CorEnergy parent entity level (the "CorEnergy Term Loan") and (iii) a $3.0 million revolving credit facility at the MoGas subsidiary entity level (the "MoGas Revolver" and, collectively with the upsized CorEnergy Revolver and the CorEnergy Term Loan, the "CorEnergy Credit Facility"). Upon closing the CorEnergy Credit Facility, CorEnergy drew $45.0 million on the CorEnergy Term Loan to pay off the balance on the CorEnergy Revolver that had been used in funding the GIGS acquisition in June 2015. The term note required quarterly principal payments of $900 thousand, which began on September 30, 2015. Quarterly principal payments were subsequently increased to $1.6 million in conjunction with the financing of the Pinedale Credit Facility, discussed further below.

On July 28, 2017, the Company entered into an amendment and restatement of the CorEnergy Credit Facility with Regions Bank (as lender and administrative agent for other participating lenders). The amended facility provides for borrowing commitments of up to $161.0 million, consisting of (i) $160.0 million on the CorEnergy Revolver, subject to borrowing base limitations, and (ii) $1.0 million on the MoGas Revolver, as detailed below. In connection with entering into the amended and restated facility on July 28, 2017, the Company used cash on hand and $10.0 million of borrowings under the amended facility to repay the $33.5 million outstanding balance on the CorEnergy Term Loan.

The amended facility has 5-year term maturing on July 28, 2022, and provides for a springing maturity on February 28, 2020, and thereafter, if the Company fails to meet certain liquidity requirements from the springing maturity date through the maturity of the Company's convertible notes on June 15, 2020. Borrowings under the credit facility will generally bear interest on the outstanding principal amount using a LIBOR pricing grid that is expected to equal a LIBOR rate plus an applicable margin of 2.75 percent to 3.75 percent, based on the Company's senior secured recourse leverage ratio. Total availability is subject to a borrowing base. The CorEnergy Credit Facility contains, among other restrictions, certain financial covenants including the maintenance of certain financial ratios, as well as default and cross-default provisions customary for transactions of this nature (with applicable customary grace periods).

The CorEnergy Credit Facility is secured by substantially all of the assets owned by the Company and its subsidiaries other than (i) the assets held by Mowood, LLC, Omega, Pinedale LP and Pinedale GP (the "Unrestricted Subs") and (ii) the equity investments in the Unrestricted Subs.

As of December 31, 2018, the Company was in compliance with all covenants of the CorEnergy Credit Facility, and the Company had approximately $122.7 million of availability.

MoGas Revolver

In conjunction with the MoGas Transaction, MoGas and United Property Systems, as co-borrowers, entered into a revolving credit agreement dated November 24, 2014 ("the MoGas Revolver") with certain lenders, including Regions Bank as agent for such lenders. Following subsequent amendments and restatements made on July 8, 2015 and July 28, 2017, in connection with the amendments and restatements of the CorEnergy Credit Facility discussed above, commitments under the MoGas Revolver were reduced from the original level of $3.0 million to a current total of $1.0 million.

The MoGas Revolver is secured by the assets held at MoGas and has a maturity date of July 28, 2022. Interest accrues under the MoGas Revolver at the same rate and pursuant to the same terms as it accrues under the CorEnergy Revolver. As of December 31, 2018, the co-borrowers were in compliance with all covenants, and there were no borrowings against the MoGas Revolver.

Mowood/Omega Revolver

On July 31, 2015, a $1.5 million revolving line of credit ("Mowood/Omega Revolver") was established with Regions Bank with a maturity date of July 31, 2016. Following annual extensions, the current maturity of the facility has been amended and extended to July 31, 2019. The Mowood/Omega Revolver is used by Omega for working capital and general business purposes and is guaranteed and secured by the assets of Omega. Interest accrues at LIBOR plus 4 percent and is payable monthly in arrears with no unused fee. There was no outstanding balance at December 31, 2018.

Amended Pinedale Term Credit Facility

On December 20, 2012, Pinedale LP closed on a $70.0 million secured term credit facility. Outstanding balances under the original facility generally accrued interest at a variable annual rate equal to LIBOR plus 3.25 percent. This credit facility was secured by the Pinedale LGS asset. Under the original agreement, Pinedale LP was obligated to pay all accrued interest monthly and was further obligated to make monthly principal payments, which began on March 7, 2014, in the amount of $294 thousand or 0.42 percent of the principal balance as of March 1, 2014. The credit facility remained in effect until December 31, 2015, with an option to extend through December 31, 2016. Although the Company elected not to extend the facility for an additional one-year period, it did amend the facility to extend the maturity date to March 30, 2016. During the extension period, the Company made principal payments of $3.2 million and the credit facility bore interest on the outstanding principal amount at LIBOR plus 4.25 percent.

On March 4, 2016, the Company obtained a consent from its lenders under the CorEnergy Credit Facility, which permitted the Company to utilize the CorEnergy Credit Facility to refinance the Company's pro rata share of the remaining balance of the Pinedale secured term credit facility. On March 30, 2016, the Company and Prudential (collectively, "the Refinancing Lenders"), refinanced the remaining $58.5 million principal balance of the $70.0 million credit facility (on a pro rata basis equal to their respective equity interests in Pinedale LP, with the Company's 81.05 percent share being approximately $47.4 million) and executed a series of agreements assigning the credit facility to the Refinancing Lenders, with CorEnergy Infrastructure Trust, Inc. as Agent for the Refinancing Lenders. The facility was further modified to extend the maturity date to March 30, 2021; to increase the LIBOR Rate to the greater of (i) 1.00 percent and (ii) the one-month LIBOR rate; and to increase the LIBOR Rate Spread to 7.00 percent per annum. The Company's portion of the debt and interest was eliminated in consolidation and Prudential's portion of the debt was shown as a related-party liability.

Pinedale LP automatically entered into a Cash Control Period (as defined in the credit facility) with the Refinancing Lenders upon the April 29, 2016 bankruptcy filing by Ultra Wyoming and its parent guarantor, Ultra Petroleum. During a Cash Control Period, the Company as Agent swept all funds for the repayment of accrued interest, scheduled principal payments and principal prepayments on the loans. Ultra Petroleum emerged from bankruptcy in April 2017, resulting in the end of the Cash Control Period and, in May 2017, Pinedale LP resumed distributions. For the years ended December 31, 2017 and 2016, pursuant to these additional cash sweep provisions, an additional $4.4 million and $9.1 million, respectively, was distributed (pro rata, based on ownership percentages) to the Refinancing Lenders as a reduction to the outstanding principal.

On December 29, 2017, Pinedale LP entered into the Amended Pinedale Term Credit Facility with Prudential and a group of lenders affiliated with Prudential as the sole lenders and Prudential serving as administrative agent. Under the terms of the Amended Term Credit Facility, Pinedale LP was provided with a 5-year $41.0 million term loan facility, bearing interest at a fixed rate of 6.5 percent, which matures on December 29, 2022. Principal payments of $294 thousand, plus accrued interest, are payable monthly. The Amended Pinedale Term Credit Facility was utilized to pay off the balance due to the Refinancing Lenders under the previously existing Pinedale LP credit facility.

Outstanding balances under the facility are secured by the Pinedale LGS assets. The Amended Pinedale Term Credit Facility contains, among other restrictions, specific financial covenants including the maintenance of certain financial coverage ratios and a minimum net worth requirement which, along with other provisions of the credit facility, limit cash dividends and loans by Pinedale LP to the Company. At December 31, 2018, the net assets of Pinedale LP were $137.0 million and Pinedale LP was in compliance with all of the financial covenants of the Amended Pinedale Term Credit Facility.

Deferred Financing Costs

A summary of deferred financing cost amortization expenses for the years ended December 31, 2018, 2017 and 2016 is as follows:



Deferred Financing Cost Amortization Expense ⁽¹⁾⁽²⁾
	For the Years Ended December 31,
	2018		2017		2016
CorEnergy Credit Facility	$	574,541	$	873,601	$	1,078,526
Amended Pinedale Term Credit Facility	52,728		392		156,330
Total Deferred Debt Cost Amortization	$	627,269	$	873,993	$	1,234,856
(1) Amortization of deferred debt issuance costs is included in interest expense in the Consolidated Statements of Income.
(2) For the amount of deferred debt costs amortization relating to the Convertible Notes included in the Consolidated Statements of Income, refer to the Convertible Note Interest Expense table below.

CorEnergy Credit Facilities

Prior to the July 28, 2017 credit facility amendment and restatement, previously existing deferred financing costs related to the CorEnergy Credit Facility were approximately $1.8 million, of which approximately $1.6 million continue to be deferred and amortized under the amended and restated facility. Additionally, the Company incurred approximately $1.3 million in new debt issuance costs which have been deferred and are being amortized over the term of the new facility. The total deferred financing costs of $2.9 million are being amortized on a straight-line basis over the 5-year term of the amended and restated CorEnergy Credit Facility. Approximately $234 thousand of existing deferred costs and new debt issuance costs were expensed as a loss on extinguishment of debt related to the amendment and restatement in the Consolidated Statements of Income for the year ended December 31, 2017.

Amended Pinedale Term Credit Facility

In connection with entering into the Amended Pinedale Term Credit Facility, Pinedale LP incurred approximately $367 thousand in new debt issuance costs, of which $264 thousand were deferred and are being amortized on a straight-line basis over the 5-year term of the Amended Pinedale Term Credit Facility. The remaining $103 thousand was expensed as a loss on extinguishment of debt in the Consolidated Statements of Income for the year ended December 31, 2017.

Contractual Payments

The remaining contractual principal payments as of December 31, 2018 under the Amended Pinedale Term Credit Facility are as follows:



Year	Amended Pinedale Term Credit Facility
2019	$	3,528,000
2020	3,528,000
2021	3,528,000
2022	26,888,000
2023	—
Thereafter	—
Total	$	37,472,000

Convertible Debt

On June 29, 2015, the Company completed a public offering of $115.0 million aggregate principal amount of 7.00% Convertible Senior Notes Due 2020 (the "Convertible Notes"). The Convertible Notes mature on June 15, 2020 and bear interest at a rate of 7.0 percent per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2015.

Holders may convert their Convertible Notes into shares of the Company's common stock at their option until the close of business on the second scheduled trading day immediately preceding the maturity date. The initial conversion rate for the Convertible Notes will be 30.3030 shares of Common Stock per $1,000 principal amount of the Convertible Notes, equivalent to an initial conversion price of $33.00 per share of Common Stock. Such conversion rate will be subject to adjustment in certain events as specified in the Indenture. During the year ended December 31, 2018, certain holders elected to convert approximately $42 thousand of Convertible Notes for 1,271 shares of CorEnergy common stock.

The Convertible Notes currently may not be redeemed prior to the maturity date without the consent of the agent and lenders under the CorEnergy Credit Facility. However, upon the occurrence of a fundamental change (as defined in the Indenture), holders may require the Company to repurchase all or a portion of the Convertible Notes for cash at a price equal to 100 percent of the principal amount of the Convertible Notes to be purchased plus any accrued and unpaid interest, if any, to, but excluding, the applicable fundamental change repurchase date as prescribed in the Indenture. In addition, in certain circumstances the Company will increase the conversion rate for a holder that converts the Convertible Notes in connection with any of a specified set of corporate events, each of which is deemed to constitute a make whole adjustment event pursuant to the terms of the Indenture.

The Convertible Notes rank equal in right of payment to any other current and future unsecured obligations of the Company and senior in right of payment to any other current and future indebtedness of the Company that is contractually subordinated to the Convertible Notes. The Convertible Notes are structurally subordinated to all liabilities (including trade payables) of the Company's subsidiaries. The Convertible Notes are effectively junior to all of the Company's existing or future secured debt, to the extent of the value of the collateral securing such debt.

On May 23, 2016, the Company repurchased $1.0 million of its Convertible Notes on the open market. This resulted in the Company writing off a portion of the original underwriter's discount and deferred debt costs, as well as recognizing a gain on extinguishment of debt of $72 thousand which is included in interest expense in the Consolidated Statements of Income for the year ended December 31, 2016. As of December 31, 2018, the Company had approximately $114.0 million of face value of the Convertible Notes outstanding. Refer to Note 17 ("Subsequent Events") for information regarding the exchange of Convertible Notes for cash and common stock, with the requisite consent of the agent and lenders under the CorEnergy Credit Facility, subsequent to December 31, 2018.

The following is a summary of the impact of Convertible Notes on interest expense for the years ended December 31, 2018, 2017 and 2016:



Convertible Note Interest Expense
	For the Years Ended December 31,
	2018		2017		2016
7.00% Convertible Notes	$	7,979,118	$	7,980,000	$	8,008,195
Discount Amortization	738,912		738,912		744,081
Deferred Debt Issuance Cost Amortization	48,276		48,276		48,566
Total	$	8,766,306	$	8,767,188	$	8,800,842

The Convertible Notes were initially issued with an underwriters' discount of $3.7 million which is being amortized over the life of the Convertible Notes. Additionally, the Company incurred approximately $241 thousand in debt issuance costs associated with the Convertible Notes which are being amortized over the life of the notes. Including the impact of the convertible debt discount and related deferred debt issuance costs, the effective interest rate on the Convertible Notes was approximately 7.7 percent for each of the years ended December 31, 2018, 2017 and 2016.

Asset Retirement Obligation

12 Months Ended

Dec. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

ASSET RETIREMENT OBLIGATION

A component of the consideration exchanged to purchase the GIGS assets in June 2015 was the assumption of the seller's asset retirement obligation ("ARO") associated with such assets. The ARO represents the estimated costs of decommissioning the GIGS pipelines and onshore oil receiving and separation facilities in Grand Isle, Louisiana at retirement. The Company recognized the ARO at its estimated fair value on the date of acquisition with a corresponding ARO asset capitalized as part of the carrying amount of the related long-lived assets to be depreciated over the assets' remaining useful lives.

The Company's tenant, EGC Tenant, has an ARO related to the platform which is currently attached to the GIGS pipelines. If in the future, EGC Tenant is unable to fulfill their obligation, the Company may be required to assume the liability for the related asset removal costs.

In periods subsequent to the initial measurement of an ARO, the Company recognizes changes in the liability resulting from (a) the passage of time through accretion expense and (b) revisions to either the timing or the amount of the estimate of undiscounted cash flows based on periodic revaluations. Future expected cash flows are based on subjective estimates and assumptions, which inherently include significant uncertainties which are beyond the Company's control. These assumptions represent Level 3 inputs in the fair value hierarchy. The Company has no assets that are legally restricted for purposes of settling asset retirement obligations.

In December 2018 and 2017, the Company revised its estimates to reflect a decrease in (i) marketplace rates for labor and other costs, (ii) for the expected timing of work and for (iii) recent decommissioning estimates. During the fourth quarter of 2018, the Company decommissioned a segment of the GIGS pipeline system. The Company incurred decommissioning costs of approximately $939 thousand compared to the estimated segment ARO liability of $628 thousand resulting in a loss on settlement of ARO of $311 thousand. The loss on settlement of ARO is recorded in general and administrative expenses in the Consolidated Statements of Income for the year ended December 31, 2018. For the year ended December 31, 2017, the change in estimate did not result in any charge to income.

The following table is a reconciliation of the asset retirement obligation as of December 31, 2018 and 2017:



Asset Retirement Obligation
	For the Years Ended December 31,
	2018			2017
Beginning asset retirement obligation	$	9,170,493		$	11,882,943
Liabilities assumed	—			—
ARO accretion expense	499,562			663,065
Liabilities settled	(628,300		)	—
Revision in cash flow estimates	(1,085,412		)	(3,375,515		)
Ending asset retirement obligation	$	7,956,343		$	9,170,493

Interest Rate Hedge Swaps

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Interest Rate Hedge Swaps

13. INTEREST RATE HEDGE SWAPS

Derivative Instruments and Hedging Activities

The Company has historically used interest rate swaps to add stability to interest expense and to manage its exposure to interest rate movements. In February 2013, the Company entered into two interest rate swap agreements associated with a portion of its variable rate debt under the $70.0 million Pinedale Credit Facility, as discussed further in Note 11 ("Debt"). The notional amount covered under these agreements totaled $52.5 million (split evenly between the two agreements). Under the terms of the interest rate swap agreements, the Company received a floating rate based on the one-month LIBOR and paid a fixed rate of 0.865%. Each of the swap agreements was set to expire in December 2017. The agreements were designated as cash flow hedges at inception and accordingly, the effective portion of the gain or loss on the swap was reported as a component of accumulated other comprehensive income ("AOCI") and was reclassified into interest expense when the interest rate swap transaction affected earnings. Any ineffective portion of the gain or loss was recognized immediately in interest expense.

On March 30, 2016, the Company restructured the Pinedale Credit Facility, as further discussed in Note 11 ("Debt"). In connection with the assignment of the Pinedale Credit Facility, the Company terminated one of the interest rate swap agreements with a notional amount of $26.3 million and the remaining interest rate swap with a notional amount of $26.3 million was de-designated from hedge accounting. The remaining derivative expired in December 2017.

The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2017 and 2016 (note that the ineffective portion is not presented as it was inconsequential for all periods presented):



	For the Years Ended December 31,
Derivatives in Cash Flow Hedging Relationship	2017		2016
Amount of Loss on Derivatives Recognized in AOCI (Effective Portion)	$	—	$	(300,181	)
Amount of Loss on Derivatives Reclassified from AOCI (Effective Portion) Recognized in Net Income⁽¹⁾	—		(50,964		)

Derivatives Not Designated as Hedging Instruments
Amount of Gain on Derivatives Recognized in Income⁽²⁾	$	25,842	$	73,204
(1) Included in "Interest Expense" on the face of the Consolidated Statements of Income and Comprehensive Income.
(2) The gains recognized in income on derivatives include changes in fair value for derivatives subsequent to de-designation from hedge accounting.

Stockholder's Equity	12 Months Ended
Stockholder's Equity	Dec. 31, 2018
Equity [Abstract]
STOCKHOLDER'S EQUITY	STOCKHOLDERS' EQUITY PREFERRED STOCK The Company's authorized preferred stock consists of 10.0 million shares having a par value of $0.001 per share. On January 27, 2015, the Company sold, in an underwritten public offering, 2,250,000 depositary shares, each representing 1/100th of a share of 7.375% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock"). Pursuant to this offering, the Company issued 22,500 whole shares of Series A Preferred Stock and received net cash proceeds of approximately $54.2 million. On April 18, 2017, the Company closed a follow-on underwritten public offering of 2,800,000 depository shares, each representing 1/100th of a share of 7.375% Series A Preferred Stock, at a price of $25.00 per depository share. On May 10, 2017, the Company sold an additional 150,000 depository shares at a public offering price of $25.00 per depository share in connection with the underwriters' exercise of their over-allotment option to purchase additional shares. Total proceeds from the offering were approximately $71.2 million, after deducting underwriting discounts and other offering expenses. A portion of the proceeds from the offering were utilized to repay $44.0 million in outstanding borrowings under the CorEnergy Revolver. Following the offering, the Company had a total of 5,200,000 depository shares outstanding, or 52,000 whole shares. The depositary shares pay an annual dividend of $1.84375 per share, equivalent to 7.375 percent of the $25.00 liquidation preference. The depositary shares may be redeemed on or after January 27, 2020, at the Company's option, in whole or in part, at the $25.00 liquidation preference plus all accrued and unpaid dividends to, but not including, the date of redemption. The depositary shares have no stated maturity, are not subject to any sinking fund or mandatory redemption and are not convertible into any other securities of the Company except in connection with certain changes of control. Holders of the depositary shares generally have no voting rights, except for limited voting rights if the Company fails to pay dividends for six or more quarters (whether or not consecutive) and in certain other circumstances. The depositary shares representing the Series A Preferred Stock trade on the NYSE under the ticker "CORRPrA." The Company's Board of Directors authorized a share repurchase program for the Company to buy up to $10.0 million of its depository shares of Series A Preferred Stock, which commenced August 6, 2018. Purchases may be made through the program through August 5, 2019. During 2018, the Company repurchased 177,773 depository shares for approximately $4.3 million in cash. As of December 31, 2018, the Company had a total of 5,022,227 depository shares outstanding, or approximately 50,222 whole shares, with an aggregate par value of $50.22. See Note 17 ("Subsequent Events"), for further information regarding the declaration of a dividend on the Series A Preferred Stock and for details of Series A Preferred Stock repurchases subsequent to December 31, 2018. COMMON STOCK On December 31, 2015, the Company's Board of Directors authorized a share repurchase program for the Company to buy up to $10.0 million of its common stock. During 2016, the Company repurchased 90,613 shares for approximately $2.0 million in cash. Under the program, which expired December 31, 2016, the Company was authorized to repurchase shares from time to time through open market transactions, including through block purchases, privately negotiated transactions, or otherwise. There were no such repurchases in 2017 or 2018. As of December 31, 2018, the Company had 11,960,225 of common shares issued and outstanding. See Note 17 ("Subsequent Events"), for further information regarding the declaration of a dividend on the common stock. SHELF REGISTRATION On October 30, 2018, the Company filed a shelf registration statement with the SEC, pursuant to which it registered 1,000,000 shares of common stock for issuance under its dividend reinvestment plan. As of December 31, 2018, we have issued 10,927 shares of common stock under our dividend reinvestment plan pursuant to the shelf resulting in remaining availability of approximately 989,073 shares of common stock. On November 9, 2018, the Company had a new shelf registration statement declared effective by the SEC replacing the Company's previously filed shelf registration statement, pursuant to which it may publicly offer additional debt or equity securities with an aggregate offering price of up to $600.0 million. As of December 31, 2018, the Company has not issued any securities under this new shelf registration statement, so total availability remains at $600.0 million.

Earnings Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share data is computed based on the weighted-average number of shares of common stock outstanding during the periods. Diluted EPS data is computed based on the weighted-average number of shares of common stock outstanding, including all potentially issuable shares of common stock. For the year ended December 31, 2018, the dilutive shares include 3,453,273 common shares outstanding from the if-converted method for the 7.00% Convertible Notes. Diluted EPS for the years ended December 31, 2017 and 2016 exclude the impact to income and to the potential number of shares outstanding from the conversion of the 7.00% Convertible Notes because such impact is antidilutive. If converted, the 7.00% Convertible Notes would result in an additional 3,454,545 common shares outstanding for the years ended December 31, 2017 and 2016.



Earnings Per Share
	For the Years Ended December 31,
	2018		2017		2016
Net income attributable to CorEnergy stockholders	$	43,711,876	$	32,602,790	$	29,663,200
Less: preferred dividend requirements⁽¹⁾	9,548,377		7,953,988		4,148,437
Net income attributable to common stockholders	$	34,163,499	$	24,648,802	$	25,514,763
Weighted average shares - basic	11,935,021		11,900,516		11,901,985
Basic earnings per share	$	2.86	$	2.07	$	2.14

Net income attributable to common stockholders (from above)	$	34,163,499	$	24,648,802	$	25,514,763
Add: After tax effect of convertible interest	8,766,306		—		—
Income attributable for dilutive securities	$	42,929,805	$	24,648,802	$	25,514,763
Weighted average shares - diluted	15,389,180		11,900,516		11,901,985
Diluted earnings per share	$	2.79	$	2.07	$	2.14
(1) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2018, preferred dividend requirements were reduced by $10,554 representing the discount in the repurchase price paid compared to the carrying amount derecognized.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (Unaudited)



	For the Fiscal 2018 Quarters Ended
	March 31			June 30			September 30			December 31
Revenue
Lease revenue	$	17,591,859		$	18,275,859		$	18,391,983		$	18,487,661
Transportation and distribution revenue	3,952,979			3,874,157			4,244,722			4,412,378
Total Revenue	21,544,838			22,150,016			22,636,705			22,900,039
Expenses
Transportation and distribution expenses	1,572,896			1,534,524			2,241,999			1,861,329
General and administrative	2,727,057			3,107,776			3,046,481			4,161,533
Depreciation, amortization and ARO accretion expense	6,289,330			6,290,082			6,289,459			6,078,582
Provision for loan (gain) loss	500,000			—			—			(536,867		)
Total Expenses	11,089,283			10,932,382			11,577,939			11,564,577
Operating Income	$	10,455,555		$	11,217,634		$	11,058,766		$	11,335,462
Other Income (Expense)
Net distributions and dividend income	$	3,951		$	55,714		$	5,627		$	41,503
Net realized and unrealized gain (loss) on other equity securities	13,966			(881,100		)	(930,147		)	(48,028		)
Interest expense	(3,210,590		)	(3,196,248		)	(3,183,589		)	(3,168,583		)
Gain on the sale of leased property, net	—			—			—			11,723,257
Total Other Income (Expense)	(3,192,673		)	(4,021,634		)	(4,108,109		)	8,548,149
Income before income taxes	7,262,882			7,196,000			6,950,657			19,883,611
Taxes
Current tax benefit	(35,549		)	(10,785		)	(8,393		)	(530,659		)
Deferred tax benefit	(409,277		)	(604,064		)	(738,274		)	(81,725		)
Income tax benefit, net	(444,826		)	(614,849		)	(746,667		)	(612,384		)
Net Income attributable to CorEnergy Stockholders	$	7,707,708		$	7,810,849		$	7,697,324		$	20,495,995
Preferred dividend requirements	2,396,875			2,396,875			2,396,875			2,357,752
Net Income attributable to Common Stockholders	$	5,310,833		$	5,413,974		$	5,300,449		$	18,138,243

Earnings Per Common Share:
Basic	$	0.45		$	0.45		$	0.44		$	1.52
Diluted	$	0.45		$	0.45		$	0.44		$	1.32



	For the Fiscal 2017 Quarters Ended
	March 31			June 30			September 30			December 31
Revenue
Lease revenue	$	17,066,526		$	17,050,092		$	17,173,676		$	17,513,510
Transportation and distribution revenue	5,010,590			4,775,780			5,270,628			4,888,575
Total Revenue	22,077,116			21,825,872			22,444,304			22,402,085
Expenses
Transportation and distribution expenses	1,335,570			1,362,980			2,384,182			1,646,975
General and administrative	3,061,240			2,558,339			2,632,546			2,534,372
Depreciation, amortization and ARO accretion expense	6,005,908			6,005,995			6,017,664			6,018,143
Total Expenses	10,402,718			9,927,314			11,034,392			10,199,490
Operating Income	$	11,674,398		$	11,898,558		$	11,409,912		$	12,202,595
Other Income (Expense)
Net distributions and dividend income	$	43,462		$	221,440		$	213,040		$	202,149
Net realized and unrealized gain (loss) on other equity securities	(544,208		)	614,634			1,340,197			121,204
Interest expense	(3,454,397		)	(3,202,837		)	(2,928,036		)	(2,793,245		)
Loss on extinguishment of debt	—			—			(234,433		)	(102,500		)
Total Other Expense	(3,955,143		)	(2,366,763		)	(1,609,232		)	(2,572,392		)
Income before income taxes	7,719,255			9,531,795			9,800,680			9,630,203
Taxes
Current tax expense (benefit)	(33,760		)	57,651			65,131			2,742,636
Deferred tax expense (benefit)	(298,846		)	38,084			126,440			(352,018		)
Income tax expense (benefit), net	(332,606		)	95,735			191,571			2,390,618
Net Income	8,051,861			9,436,060			9,609,109			7,239,585
Less: Net Income attributable to non-controlling interest	382,383			435,888			431,825			483,730
Net Income attributable to CorEnergy Stockholders	$	7,669,478		$	9,000,172		$	9,177,284		$	6,755,855
Preferred dividend requirements	1,037,109			2,123,129			2,396,875			2,396,875
Net Income attributable to Common Stockholders	$	6,632,369		$	6,877,043		$	6,780,409		$	4,358,980

Earnings Per Common Share:
Basic	$	0.56		$	0.58		$	0.57		$	0.37
Diluted	$	0.56		$	0.58		$	0.57		$	0.37

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company performed an evaluation of subsequent events through the date of the issuance of these financial statements and determined that no additional items require recognition or disclosure, except for the following: Preferred Stock Repurchase On January 9, 2019, the Company repurchased 2,500 depository shares of Series A Preferred Stock for approximately $61 thousand in cash. Subsequent to the repurchase, the Company had a total of 5,019,727 depository shares outstanding, or approximately 50,197 whole shares. Convertible Note Exchange On January 16, 2019, the Company agreed with three holders of its Convertible Notes, pursuant to privately negotiated agreements, to exchange $43.8 million face amount of such notes for an aggregate of 837,040 shares of the Company's common stock, par value $0.001 per share, plus aggregate cash consideration of $19.8 million. The Company's agent and lenders under the CorEnergy Credit Facility provided a consent for the convertible note exchange, subject to certain conditions. Subsequent to the exchange, the Company had approximately $70.2 million of face value of the Convertible Notes outstanding. The Company will record a loss on extinguishment of debt of approximately $5.0 million in the Consolidated Statements of Income for the first quarter of 2019. Common Stock Dividend On January 23, 2019, the Company's Board of Directors declared a 2018 fourth quarter dividend of $0.75 per share for CorEnergy common stock. The dividend was paid on February 28, 2019, to stockholders of record on February 14, 2019. Preferred Stock Dividend On January 23, 2019, the Company's Board of Directors also declared a dividend of $0.4609375 per depositary share for its 7.375% Series A Preferred Stock. The preferred stock dividend was paid on February 28, 2019, to stockholders of record on February 14, 2019.

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT

CorEnergy Infrastructure Trust, Inc.



CONDENSED BALANCE SHEETS	December 31, 2018		December 31, 2017
Assets
Leased property, net of accumulated depreciation of $1,112,218 and $927,838	$	3,681,438	$	3,865,818
Investments	415,674,601		479,840,250
Cash and cash equivalents	64,574,701		6,662,474
Due from subsidiary	10,549,719		7,302,678
Note receivable from subsidiary	81,000,000		83,250,000
Deferred costs, net of accumulated amortization of $712,182 and $226,342	1,769,585		2,255,425
Prepaid expenses and other assets	265,024		197,211
Total Assets	$	577,515,068	$	583,373,856
Liabilities and Equity
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,180,729 and $1,967,917	112,777,271		112,032,083
Accounts payable and other accrued liabilities	1,075,045		987,881
Management fees payable	1,831,613		1,748,426
Due to affiliate	153,640		153,640
Total Liabilities	$	115,837,569	$	114,922,030
Equity
Series A Cumulative Redeemable Preferred Stock 7.375%, $125,555,675 and $130,000,000 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 50,222 and 52,000 issued and outstanding at December 31, 2018 and December 31, 2017, respectively	$	125,555,675	$	130,000,000
Capital stock, non-convertible, $0.001 par value; 11,960,225 and 11,915,830 shares issued and outstanding at December 31, 2018 and December 31, 2017 (100,000,000 shares authorized)	11,960		11,916
Additional paid-in capital	326,962,163		338,439,910
Retained earnings	9,147,701		—
Total Equity	461,677,499		468,451,826
Total Liabilities and Equity	$	577,515,068	$	583,373,856
See accompanying Schedule I Notes to Condensed Financial Statements.

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CorEnergy Infrastructure Trust, Inc. - Continued



CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME	For the Years Ended December 31,
	2018			2017			2016
Revenue
Earnings from subsidiary	$	48,353,177		$	36,222,221		$	32,856,338
Total Revenue	48,353,177			36,222,221			32,856,338
Expenses
General and administrative	2,353,593			2,298,201			2,236,358
Depreciation expense	184,380			184,380			184,380
Amortization expense	5,316			5,316			5,316
Total Expenses	2,543,289			2,487,897			2,426,054
Operating Income	$	45,809,888		$	33,734,324		$	30,430,284
Other Income (Expense)
Net distributions and dividend income	$	56,827		$	96,866		$	12,963
Interest on loans to subsidiaries	7,903,104			11,549,344			11,705,465
Interest expense, net	(10,057,943		)	(11,451,944		)	(12,485,510		)
Loss on extinguishment of debt	—			(225,801		)	—
Total Other Expense	(2,098,012		)	(31,535		)	(767,082		)
Net Income	$	43,711,876		$	33,702,789		$	29,663,202

Other comprehensive income:
Changes in fair value of qualifying hedges	—			11,196			(201,993		)
Total Comprehensive Income	$	43,711,876		$	33,713,985		$	29,461,209
See accompanying Schedule I Notes to Condensed Financial Statements.

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - CorEnergy Infrastructure Trust, Inc. - Continued



CONDENSED STATEMENTS OF CASH FLOW	For the Years Ended December 31,
	2018			2017			2016
Net cash provided by (used in) operating activities	$	(6,257,124	)	$	1,661,123		$	(3,141,286	)
Investing Activities
Issuance of note to subsidiary	—			—			(47,414,250		)
Principal payments received from notes to subsidiaries	2,250,000			40,092,095			11,899,659
Investment in consolidated subsidiaries	(73,996		)	(33,900,000		)	—
Cash distributions from consolidated subsidiaries	110,140,459			46,774,111			39,139,897
Net cash provided by investing activities	$	112,316,463		$	52,966,206		$	3,625,306
Financing Activities
Debt financing costs	—			(1,360,241		)	(193,000		)
Net offering proceeds on Series A preferred stock	—			71,161,531			—
Repurchases of common stock	—			—			(2,041,851		)
Repurchases of convertible debt	—			—			(899,960		)
Repurchases of preferred stock debt	(4,275,553		)	—			—
Dividends paid on Series A preferred stock	(9,587,500		)	(8,227,734		)	(4,148,437		)
Dividends paid on common stock	(34,284,059		)	(34,731,892		)	(34,896,727		)
Advances on revolving line of credit	—			10,000,000			44,000,000
Payments on revolving line of credit	—			(54,000,000		)	—
Principal payments on term debt	—			(36,740,000		)	(6,460,000		)
Net cash used in financing activities	$	(48,147,112	)	$	(53,898,336	)	$	(4,639,975	)
Net Change in Cash and Cash Equivalents	$	57,912,227		$	728,993		$	(4,155,955	)
Cash and Cash Equivalents at beginning of period	6,662,474			5,933,481			10,089,436
Cash and Cash Equivalents at end of period	$	64,574,701		$	6,662,474		$	5,933,481

Supplemental Disclosure of Cash Flow Information
Interest Paid	$	8,794,086		$	10,080,764		$	11,335,654
Non-Cash Investing Activities
Conversion of note receivable from subsidiary to investments	$	—		$	4,902,495		$	—
Dissolution of investment in subsidiary upon liquidation	(73,996		)	—			—
Non-Cash Financing Activities
Common stock issued upon conversion of convertible notes	$	42,654		$	—		$	—
Reinvestment of distributions by common stockholders in additional common shares	1,509,830			962,308			815,889
See accompanying Schedule I Notes to Condensed Financial Statements.

NOTES TO SCHEDULE I CONDENSED FINANCIAL STATEMENTS

NOTE A - BASIS OF PRESENTATION

In the parent-company-only financial statements, the Company's investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. The parent-company-only financial statements should be read in conjunction with the Company's consolidated financial statements.

NOTE B - DIVIDENDS FROM SUBSIDIARIES

Cash dividends paid to CorEnergy Infrastructure Trust, Inc. from the Company's consolidated subsidiaries were $110.1 million, $46.8 million and $39.1 million for the years ended December 31, 2018, 2017 and 2016, respectively.

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - CorEnergy Infrastructure Trust, Inc.



				Initial Cost to Company				Costs Capitalized Subsequent to Acquisition			Gross Amount Carried at Close of Period December 31, 2018
Description	Location	Encumbrances		Land		Building & Fixtures		Improvements / Adjustments ⁽⁴⁾			Land		Building & Fixtures		Total		Accumulated Depreciation		Investment in Real Estate, net, at 12/31/18		Date Acquired	Life on which depreciation in latest income statement is computed
Pinedale LGS (1)(5)	Pinedale, WY	$	37,472,000	$	105,485,063	$	125,119,062	$	—		$	105,485,063	$	125,119,062	$	230,604,125	$	53,501,538	$	177,102,587	2012	26 years
United Property Systems (4)	St. Louis, MO	—		210,000		1,188,000		78,621			210,000		1,266,621		1,476,621		138,096		1,338,525		2014	40 years
Grand Isle Gathering System(2)(3)(4)	Gulf of Mexico	—		960,000		258,471,397		(6,143,693		)	960,000		252,327,704		253,287,704		33,514,461		219,773,243		2015	27 years
		$	37,472,000	$	106,655,063	$	384,778,459	$	(6,065,072	)	$	106,655,063	$	378,713,387	$	485,368,450	$	87,154,095	$	398,214,355
(1) In connection with the asset acquisition, CorEnergy and Pinedale LP incurred acquisition costs of $2,557,910, which are included in the total asset balance.
(2) In connection with the asset acquisition, Grand Isle Gathering System incurred acquisition costs of $1,931,396, which are included in the total asset balance.
(3) Initial costs associated with the GIGS asset include amounts capitalized related to an acquired asset retirement obligation (ARO). The negative subsequent adjustment relates to (i) downward revisions of the ARO based on periodic reevaluation as required under FASB ASC 410-20 and (ii) the settlement of a portion of the ARO when a segment of the GIGS pipeline system was decommissioned during the fourth quarter of 2018.
(4) These 2 properties serve as collateral under the CorEnergy Credit Facility. There are no amounts outstanding on the credit facility as of December 31, 2018.
(5) The amount outstanding for the Amended Pinedale Term Credit Facility is $37,472,000 as of December 31, 2018.

NOTES TO SCHEDULE III - CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION

Reconciliation of Real Estate and Accumulated Depreciation



	For the Years Ended December 31,
	2018			2017			2016
Investment in real estate:
Balance, beginning of year	$	538,112,220		$	541,478,086		$	543,095,478
Addition: Acquisitions and developments	3,599			9,649			65,371
Deduction: Dispositions and other⁽¹⁾⁽²⁾	(52,747,369		)	(3,375,515		)	(1,682,763		)
Balance, end of year	$	485,368,450		$	538,112,220		$	541,478,086
Accumulated depreciation:
Balance, beginning of year	$	72,155,753		$	52,219,717		$	33,869,263
Addition: Depreciation	20,986,461			19,936,036			18,350,454
Deduction: Dispositions and other⁽²⁾	(5,988,119		)	—			—
Balance, end of year	$	87,154,095		$	72,155,753		$	52,219,717
(1) The Grand Isle Gathering System had a change in estimate related to the ARO in 2018, 2017 and 2016. Refer to Note 12 ("Asset Retirement Obligation") for further details.
(2) On December 21, 2018, the Company sold its Portland Terminal Facility with a net carrying value of $45.7 million (i.e. gross investment of $51.7 million less accumulated depreciation of $6.0 million). Refer to Note 3 ("Leased Properties and Leases") for further details.

The aggregate cost of the properties is approximately $4.2 million lower for federal income tax purposes at December 31, 2018. The tax basis of the properties is unaudited.

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - CorEnergy Infrastructure Trust, Inc.



Description	Interest Rate	Final Maturity	Monthly Payment Amount		Prior Liens	Face Value		Carrying Amount of Mortgage		Principal Amount of Loans Subject to Delinquent Principal or Interest
First Mortgages
Billings, Dunn and McKenzie Counties, North Dakota (Morlock Well)	8.52%	6/15/2019	$	—	None	$	1,300,000	$	1,300,000	$	—
Total						$	1,300,000	$	1,300,000	$	—

NOTES TO SCHEDULE IV - CONSOLIDATED MORTGAGE LOANS ON REAL ESTATE

Reconciliation of Mortgage Loans on Real Estate



	For the Years Ended December 31,
	2018			2017		2016
Beginning balance	$	1,500,000		$	1,500,000	$	6,877,021
Additions:
New loans	—			—		100,000
Interest receivable⁽¹⁾	—			—		(95,114		)
Total Additions	$	—		$	—	$	4,886
Deductions:
Principal repayments⁽²⁾	$	236,867		$	—	$	—
Foreclosures	—			—		1,857,000
Amortization of deferred costs	—			—		(2,025		)
Principal, Interest and Deferred Costs Write (Up) Down⁽²⁾⁽³⁾	(36,867		)	—		3,526,932
Total deductions	$	200,000		$	—	$	5,381,907
Ending balance	$	1,300,000		$	1,500,000	$	1,500,000
(1) In 2016, $100 thousand of interest receivable on the SWD Enterprises REIT note was converted to principal.
(2) In 2018, Four Wood Corridor and Compass SWD executed a $1.3 million loan agreement and Compass SWD paid approximately $237 thousand in cash for assets secured by the previous $1.5 million loans. As a result, SWD Enterprises was released from the terms of its loans, and the Company recognized a provision for loan gain of $37 thousand in the Consolidated Statements of Income. Refer to Note 5 ("Financing Notes Receivable") for further details.
(3) For 2016, the amount of provision for loan loss on the Consolidated Statements of Income also includes (a) $656 thousand of loan losses not related to mortgage loans and (b) $832 thousand of losses associated with the foreclosure and sale of Black Bison.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation and Use of Estimates

Basis of Presentation

The accompanying consolidated financial statements include CorEnergy accounts and the accounts of its wholly-owned subsidiaries and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") set forth in the Accounting Standards Codification ("ASC"), as published by the Financial Accounting Standards Board ("FASB"), and with the Securities and Exchange Commission ("SEC") instructions to Form 10-K. The accompanying consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. There were no adjustments that, in the opinion of management, were not of a normal and recurring nature. All intercompany transactions and balances have been eliminated in consolidation, and the Company's net earnings have been reduced by the portion of net earnings attributable to non-controlling interests, when applicable.

The FASB issued ASU 2015-02 Consolidations (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02"), which amended previous consolidation guidance, including introducing a separate consolidation analysis specific to limited partnerships and other similar entities. Under this analysis, limited partnerships and other similar entities are considered a variable interest entity ("VIE") unless the limited partners hold substantive kick-out rights or participating rights. Management determined that Pinedale LP and Grand Isle Corridor LP are VIEs under the amended guidance because the limited partners of both partnerships lack both substantive kick-out rights and participating rights. As such, management evaluated the qualitative criteria under FASB ASC Topic 810 in conjunction with ASU 2015-02 to make a determination whether these partnerships should be consolidated in the Company's financial statements. ASC Topic 810-10 requires the primary beneficiary of a variable interest entity's activities to consolidate the VIE. The primary beneficiary is identified as the enterprise that has a) the power to direct the activities of the VIE that most significantly impact the entity's economic performance and b) the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. The standard requires an ongoing analysis to determine whether the variable interest gives rise to a controlling financial interest in the VIE. Based on the general partners' roles and rights as afforded by the partnership agreements and its exposure to losses and benefits of each of the partnerships through its significant limited partner interests, management determined that CorEnergy is the primary beneficiary of both Pinedale LP and Grand Isle Corridor LP. Based upon this evaluation and the Company's 100 percent ownership interest in Pinedale LP (2018) and Grand Isle Corridor LP (2016-2018) and the majority ownership interest in Pinedale LP (2016-2017) of the limited partnership interests, the consolidated financial statements presented include full consolidation with respect to both of the partnerships.

Use of Estimates

Use of Estimates – The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Leased Property

Leased Property – The Company includes assets subject to lease arrangements within leased property, net of accumulated depreciation, in the Consolidated Balance Sheets. Lease payments received are reflected in lease revenue on the Consolidated Statements of Income, net of amortization of any off-market adjustments. Costs in connection with the creation and execution of a lease are capitalized and amortized over the lease term. See Note 3 ("Leased Properties And Leases") for further discussion.

Property and Equipment

Property and Equipment – Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the asset. Expenditures for repairs and maintenance are charged to operations as incurred, and improvements, which extend the useful lives of assets, are capitalized and depreciated over the remaining estimated useful life of the asset. The Company initially records long-lived assets at their purchase price plus any direct acquisition costs, unless the transaction is accounted for as a business combination, in which case the acquisition costs are expensed as incurred. If the transaction is accounted for as a business combination, the Company allocates the purchase price to the acquired tangible and intangible assets and liabilities based on their estimated fair values.

Long-Lived Asset Impairment

Long-Lived Asset Impairment – The Company's long-lived assets consist primarily of a subsea midstream pipeline system, liquids gathering system and natural gas pipelines that have been obtained through asset acquisitions and a business combination. Management continually monitors its business, the business environment and performance of its operations to determine if an event has occurred that indicates that the carrying value of a long-lived asset may be impaired. When a triggering event occurs, which is a determination that involves judgment, management utilizes cash flow projections to assess its ability to recover the carrying value of its assets based on the Company's long-lived assets' ability to generate future cash flows on an undiscounted basis. This differs from the evaluation of goodwill, for which the recoverability assessment utilizes fair value estimates that include discounted cash flows in the estimation process and accordingly any goodwill impairment recognized may not be indicative of a similar impairment of the related underlying long-lived assets.

Management's projected cash flows of long-lived assets are primarily based on contractual cash flows relating to existing leases that extend many years into the future. If those cash flow projections indicate that the long-lived asset's carrying value is not recoverable, management records an impairment charge for the excess of carrying value of the asset over its fair value. The estimate of fair value considers a number of factors, including the potential value that would be received if the asset were sold, discount rates and projected cash flows. Due to the imprecise nature of these projections and assumptions, actual results can differ from management's estimates. There were no impairments of long-lived assets recorded during the years ended December 31, 2018, 2017 or 2016.

Financing Notes Receivable

Financing Notes Receivable – Financing notes receivable are presented at face value plus accrued interest receivable and deferred loan origination costs and net of related direct loan origination income. Each quarter the Company reviews its financing notes receivable to determine if the balances are realizable based on factors affecting the collectability of those balances. Factors may include credit quality, timeliness of required periodic payments, past due status and management discussions with obligors. The Company evaluates the collectability of both interest and principal of each of its loans to determine if an allowance is needed. An allowance will be recorded when based on current information and events, the Company determines it is probable that it will be unable to collect all amounts due according to the existing contractual terms. If the Company does determine an allowance is necessary, the amount deemed uncollectable is expensed in the period of determination. An insignificant delay or shortfall in the amount of payments does not necessarily result in the recording of an allowance. Generally, when interest and/or principal payments on a loan become past due, or if the Company does not otherwise expect the borrower to be able to service its debt and other obligations, the Company will place the loan on non-accrual status and will typically cease recognizing financing revenue on that loan until all principal and interest have been brought current. Interest income recognition is resumed if and when the previously reserved-for financing notes become contractually current and performance has been demonstrated. Payments received subsequent to the recording of an allowance will be recorded as a reduction to principal.

Investment Securities

Investment Securities – The Company's investments in securities are classified as other equity securities and represent interests in private companies which the Company has elected to report at fair value under the fair value option. These investments are subject to restrictions on resale, have no established trading market and are valued on a quarterly basis. Because of the inherent uncertainty of valuation, the fair values of such investments, which are determined in accordance with procedures approved by the Company's Board of Directors, may differ materially from the values that would have been used had a ready market existed for the investments.

The Company determines fair value to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has determined the principal market, or the market in which the Company exits its private portfolio investments with the greatest volume and level of activity, to be the private secondary market. Typically, private companies are bought and sold based on multiples of EBITDA, cash flows, net income, revenues, or in limited cases, book value.

For private company investments, value is often realized through a liquidity event. Therefore, the value of the company as a whole (enterprise value) at the reporting date often provides the best evidence of the value of the investment and is the initial step for valuing the Company's privately issued securities. For any one company, enterprise value may best be expressed as a range of fair values, from which a single estimate of fair value will be derived. In determining the enterprise value of a portfolio company, an analysis is prepared consisting of traditional valuation methodologies including market and income approaches. The Company considers some or all of the traditional valuation methods based on the individual circumstances of the portfolio company in order to derive its estimate of enterprise value.

The fair value of investments in private portfolio companies is determined based on various factors, including enterprise value, observable market transactions, such as recent offers to purchase a company, recent transactions involving the purchase or sale of the equity securities of the company, or other liquidation events. The determined equity values may be discounted when the Company has a minority position, or is subject to restrictions on resale, has specific concerns about the receptivity of the capital markets to a specific company at a certain time, or other comparable factors exist.

Fair Value Measurements

Fair Value Measurements – FASB ASC 820, Fair Value Measurements and Disclosure ("ASC 820"), defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Various inputs are used in determining the fair value of the Company's assets and liabilities. These inputs are summarized in the three broad levels listed below:


•	Level 1 - quoted prices in active markets for identical investments


•	Level 2 - other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.)


•	Level 3 - significant unobservable inputs (including the Company's own assumptions in determining the fair value of investments)

See Note 10 ("Fair Value") for further discussion of the Company's fair value measurements.

Cash and Cash Equivalents

Cash and Cash Equivalents – The Company maintains cash balances at financial institutions in amounts that regularly exceed FDIC insured limits. The Company's cash equivalents are comprised of short-term, liquid money market instruments.

Accounts and other receivables/Deferred rent receivables

Accounts and other receivables – Accounts receivable are presented at face value net of an allowance for doubtful accounts within accounts and other receivables on the balance sheet. Accounts are considered past due based on the terms of sale with the customers. The Company reviews accounts for collectability based on an analysis of specific outstanding receivables, current economic conditions and past collection experience. For the years ended December 31, 2018 and 2017, the Company determined that an allowance for doubtful accounts was not necessary.

J. Deferred rent receivables – Lease receivables are determined according to the terms of the lease agreements entered into by the Company and its lessees, as discussed within Note 3 ("Leased Properties And Leases"). Lease receivables primarily represent timing differences between straight-line revenue recognition and contractual lease receipts. As of December 31, 2018, lease payments by the Company's tenants have remained timely and without lapse.

Goodwill

Goodwill – Goodwill represents the excess of the amount paid for the MoGas business over the fair value of the net identifiable assets acquired. To comply with ASC 350, Intangibles - Goodwill and Other ("ASC 350"), the Company performs an impairment test for goodwill annually, or more frequently in the event that a triggering event has occurred. December 31st is the Company's annual testing date associated with its MoGas reporting unit.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies how an entity is required to test goodwill for impairment by eliminating step two from the goodwill impairment test. Effective January 1, 2017, the Company elected to early adopt this standard.

In accordance with ASC 350, a company may elect to perform a qualitative assessment to determine whether the quantitative impairment test is required. If the company elects to perform a qualitative assessment, the quantitative impairment test is required only if the conclusion is that it is more likely than not that the reporting unit's fair value is less than its carrying amount. If a company bypasses the qualitative assessment, the quantitative goodwill impairment test should be followed in step one.

Step one compares the fair value of the reporting unit to its carrying value to identify and measure any potential impairment. The reporting unit fair value is based upon consideration of various valuation methodologies, one of which is projecting future cash flows discounted at rates commensurate with the risks involved ("Discounted Cash Flow" or "DCF"). Assumptions used in a DCF require the exercise of significant judgment, including judgment about appropriate discount rates and terminal values, growth rates and the amount and timing of expected future cash flows. Forecasted cash flows require management to make judgments and assumptions, including estimates of future volumes and rates. Declines in volumes or rates from those forecasted, or other changes in assumptions, may result in a change in management's estimate and result in an impairment.

The Company elected to perform a qualitative goodwill impairment assessment for the years ended December 31, 2018 and 2017. In performing the qualitative assessment, the Company analyzed the key drivers and other external factors that impact the business in order to determine if any significant events, transactions or other factors had occurred or are expected to occur that would impair earnings or competitiveness, therefore impairing the fair value of the MoGas reporting unit. After assessing the totality of events and circumstances, it was determined that it was not more likely than not that the fair value of the MoGas reporting unit was less than the carrying value, and so it was not necessary to perform the quantitative step one valuation. Key drivers that were considered in the qualitative evaluation of the MoGas reporting unit included: general economic conditions, continued recovery of the energy markets, natural gas pricing, input costs, liquidity and capital resources and customer outlook. Additionally, the Company considered the quantitative impairment analysis performed as of December 31, 2016, including potential updates to key valuation assumptions, in determining that it was not more likely than not that goodwill was impaired for the current year assessment.

Debt Discount and Debt Issuance Costs

Debt Discount and Debt Issuance Costs – Costs incurred for the issuance of new debt are capitalized and amortized into interest expense over the debt term. Issuance costs related to long-term debt are recorded as a direct deduction from the carrying amount of that debt liability, net of accumulated amortization. Issuance costs related to line-of-credit arrangements however, are presented as an asset instead of a direct deduction from the carrying amount of the debt. In accordance with ASC 470, Debt ("ASC 470"), the Company recorded its Convertible Senior Notes at the aggregate principal amount, less discount. The Company is amortizing the debt discount over the life of the convertible notes as additional non-cash interest expense utilizing the effective interest method. Refer to Note 11 ("Debt") for additional information.

Asset Retirement Obligations

Asset Retirement Obligations – The Company follows ASC 410-20, Asset Retirement Obligations, which requires that an asset retirement obligation ("ARO") associated with the retirement of a long-lived asset be recognized as a liability in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated asset. The Company recognized an existing ARO in conjunction with the acquisition of the GIGS in June 2015.

The Company measures changes in the ARO liability due to passage of time by applying an interest method of allocation to the amount of the liability at the beginning of the period. The increase in the carrying amount of the liability is recognized as an expense classified as an operating item in the Consolidated Statements of Income, hereinafter referred to as ARO accretion expense. The Company periodically reassesses the timing and amount of cash flows anticipated associated with the ARO and adjusts the fair value of the liability accordingly under the guidance in ASC 410-20.

The fair value of the obligation at the acquisition date was capitalized as part of the carrying amount of the related long-lived assets and is being depreciated over the asset's remaining useful life. The useful lives of most pipeline gathering systems are primarily derived from available supply resources and ultimate consumption of those resources by end users. Adjustments to the ARO resulting from reassessments of the timing and amount of cash flows will result in changes to the retirement costs capitalized as part of the carrying amount of the asset.

Upon decommissioning of the ARO or a portion thereof, the Company reduces the fair value of the liability and recognizes a (gain) loss on settlement of ARO as an operating item in the Consolidated Statements of Income for the difference between the liability and actual decommissioning costs incurred.

Refer to Note 12 ("Asset Retirement Obligation") for additional information.

Revenue Recognition

Revenue Recognition – In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers ("ASU 2014-09" or "ASC 606"), which became effective for all public entities on January 1, 2018. ASC 606 supersedes previously existing revenue recognition standards with a single model unless those contracts are within the scope of other standards (e.g. leases). The model requires an entity to recognize as revenue the amount of consideration to which it expects to be entitled for the transfer of promised goods or services to customers. A substantial portion of the Company's revenue consists of rental income from leasing arrangements, which is specifically excluded from ASC 606. However, the Company's transportation and distribution revenue is within the scope of the new guidance. The Company adopted ASC 606 effective on January 1, 2018 using the modified retrospective method. The Company elected to apply the guidance only to open contracts as of the effective date. The Company recognized the cumulative effect of applying the new standard as an adjustment to the opening balance of stockholders' equity. The comparative information has not been restated and continues to be reported under accounting standards in effect for those periods. Refer to Note 4 ("Transportation And Distribution Revenue") for further discussion of the transition impact and related disclosures under ASC 606.

Specific recognition policies for the Company's revenue items are as follows:

•

Lease revenue – Base rent related to the Company's leased property is recognized on a straight-line basis over the term of the lease when collectability is reasonably assured. Participating rent is recognized when it is earned, based on the achievement of specified performance criteria. Rental payments received in advance are classified as unearned revenue and included as a liability within the Consolidated Balance Sheets. Unearned revenue is amortized ratably over the lease period as revenue recognition criteria are met. Rental payments received in arrears are accrued and classified as deferred rent receivable and included in assets within the Consolidated Balance Sheets.

•

Transportation and distribution revenue – The Company's contracts related to transportation and distribution revenue are primarily comprised of a mix of natural gas supply, transportation and distribution performance obligations, as well as limited performance obligations related to system maintenance and expansion. Transportation revenues are recognized by MoGas and distribution revenues are recognized by Omega and Omega Gas Marketing, LLC.

◦

Under the Company's natural gas supply, transportation and distribution performance obligations, the customer simultaneously receives and consumes the benefit of the services as natural gas is delivered. Therefore, the transaction price is allocated proportionally over the series of identical performance obligations with each contract. The transaction price is calculated based on (i) index price, plus a contractual markup in the case of natural gas supply agreements (considered variable due to fluctuations in the index), (ii) FERC regulated rates or negotiated rates in the case of transportation agreements and (iii) contracted amounts (with annual CPI escalators) in the case of the Company's distribution agreement. Based on the nature of the agreements, revenue for all but one of the Company's natural gas supply, transportation and distribution performance obligations is recognized on a right to invoice basis as the performance obligations are met, which represents what the Company expects to receive in consideration and is representative of value delivered to the customer. The Company has a contract with one customer, Spire, that has fixed pricing which varies over the contract term. For this specific contract, the transaction price has been allocated ratably over the contractual performance obligation beginning in 2018 with the adoption of ASC 606. All invoicing is done in the month following service, with payment typically due a month from invoice date.

◦

The Company's contracts also contain performance obligations related to system maintenance and expansion, which are completed on an as-needed basis. The work performed is specific and tailored to the customer's needs and there are no alternative uses for the services provided. Therefore, as the work is being completed, control is transferring to the customer. These services are billed at the Company's cost, plus an agreed upon margin, and the Company has an enforceable right to payment for services provided. The Company invoices for this service on a monthly basis according to an agreed upon billing schedule. Revenue is recognized on an input method, based on the actual cost of a service as a measure of performance obligations satisfaction, which the Company determined to be the method which faithfully depicts the transfer of services. Differences between the amounts invoiced and revenue recognized under the input method are reflected as an asset or liability on the Consolidated Balance Sheets. Any differences are typically expected to be recognized within a year.


◦	Beginning February 1, 2016, due to changes that commenced under a new contract with the Department of Defense ("DOD"), gas sales and cost of gas sales are presented on a net basis in the transportation and distribution revenue line. The Company continues to present the gas sales and cost of gas sales on a net basis upon adoption of ASC 606.

•

Financing revenue – Historically, financing notes receivable have been considered a core product offering and therefore the related income is presented as a component of operating income. For increasing rate loans, base interest income is recorded ratably over the life of the loan, using the effective interest rate. The net amount of deferred loan origination income and costs are amortized on a straight-line basis over the life of the loan and reported as an adjustment to yield in financing revenue. Participating financing revenues are recorded when specific performance criteria have been met.

Transportation and distribution expense

Transportation and distribution expense – Included here are both MoGas' costs of operating and maintaining the natural gas transmission line and Omega's costs of operating and maintaining the natural gas distribution system, including any necessary expansion of the distribution system. These costs are incurred both internally and externally. The internal costs relate to system control, pipeline operations, maintenance, insurance and taxes. Other internal costs include payroll for employees associated with gas control, field employees and management. The external costs consist of professional services such as audit and accounting, legal and regulatory and engineering.

Historically, Omega's amounts paid for gas and propane delivered to customers were presented as cost of sales. Beginning February 1, 2016, under a new contract with the DOD, amounts paid by Omega for gas and propane are netted against sales and are presented in the transportation and distribution revenue line. See paragraph (N) above.

Other Income Recognition

Other Income Recognition – Specific policies for the Company's other income items are as follows:

•

Net distributions and dividend income from investments – Distributions and dividends from investments are recorded on their ex-dates and are reflected as other income within the accompanying Consolidated Statements of Income. Distributions received from the Company's investments are generally characterized as ordinary income, capital gains and distributions received from investment securities. The portion characterized as return of capital is paid by the Company's investees from their cash flow from operations. The Company records investment income, capital gains and distributions received from investment securities based on estimates made at the time such distributions are received. Such estimates are based on information available from each company and other industry sources. These estimates may subsequently be revised based on information received from the entities after their tax reporting periods are concluded, as the actual character of these distributions is not known until after the fiscal year end of the Company.

•

Net realized and unrealized gain (loss) from investments – Securities transactions are accounted for on the date the securities are purchased or sold. Realized gains and losses are reported on an identified cost basis. The Company records investment income and return of capital based on estimates made at the time such distributions are received. Such estimates are based on information available from the portfolio company and other industry sources. These estimates may subsequently be revised based on information received from the portfolio company after their tax reporting periods are concluded, as the actual character of these distributions are not known until after the Company's fiscal year end.

Asset Acquisition Expenses

Asset Acquisition Expenses – Costs incurred in connection with the research of real property acquisitions not accounted for as business combinations are expensed until it is determined that the acquisition of the real property is probable. Upon such determination, costs incurred in connection with the acquisition of the property are capitalized as described in paragraph (C) above. Deferred costs related to an acquisition that the Company has determined, based on management's judgment, not to pursue are expensed in the period in which such determination is made. Costs incurred in connection with a business combination are expensed as incurred.

Offering Costs

Offering Costs – Offering costs related to the issuance of common or preferred stock are charged to additional paid-in capital when the stock is issued.

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities – The Company has used forward swap contracts primarily to reduce exposure to changes in interest rates on a portion of its variable-rate debt and to provide a cash flow hedge. In accordance with FASB ASC 815, Derivatives and Hedging ("ASC 815"), these derivative contracts have been recorded on the balance sheet at fair value. Historically, these derivative instruments have been designated as hedges for accounting purposes. The measurement of the cash flow hedge ineffectiveness has historically been recognized in earnings, when applicable. The effective portion of the gain or loss on qualifying swaps has been reported in accumulated other comprehensive income ("AOCI"), in accordance with ASC 815. For swaps de-designated as cash flow hedges, changes in fair value of the swaps have been fully recognized in earnings. See Note 13 ("Interest Rate Hedge Swaps") for further discussion.

Earnings Per Share

Earnings Per Share – Basic earnings per share ("EPS") is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the period except for periods of net loss for which no common share equivalents are included because their effect would be anti-dilutive. Dilutive common equivalent shares consist of shares issuable upon conversion of the Convertible Notes calculated using the if-converted method.

Federal and State Income Taxation

Federal and State Income Taxation – In 2013 the Company qualified for REIT status, and in March 2014 elected (effective as of January 1, 2013), to be treated as a REIT for federal income tax purposes. Because certain of its assets may not produce REIT-qualifying income or be treated as interests in real property, those assets are held in wholly-owned TRSs in order to limit the potential that such assets and income could prevent the Company from qualifying as a REIT.

As a REIT, the Company holds and operates certain of its assets through one or more wholly-owned TRSs. The Company's use of TRSs enables it to continue to engage in certain businesses while complying with REIT qualification requirements and also allows it to retain income generated by these businesses for reinvestment without the requirement of distributing those earnings. In the future, the Company may elect to reorganize and transfer certain assets or operations from its TRSs to the Company or other subsidiaries, including qualified REIT subsidiaries.

The Company's other equity securities are limited partnerships or limited liability companies which are treated as partnerships for federal and state income tax purposes. As a limited partner, the Company reports its allocable share of taxable income in computing its own taxable income. To the extent held by a TRS, the TRS's tax expense or benefit is included in the Consolidated Statements of Income based on the component of income or gains and losses to which such expense or benefit relates. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is recognized if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. It is expected that for the year ended December 31, 2018, and future periods, any deferred tax liability or asset generated will be related entirely to the assets and activities of the Company's TRSs.

If the Company ceased to qualify as a REIT, the Company, as a C corporation, would be obligated to pay federal and state income tax on its taxable income.

Recent Accounting Pronouncements

Recent Accounting Pronouncements – In February 2016, the FASB issued ASU 2016-02, Leases ("ASU 2016-02" or "ASC 842"), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018, with early adoption permitted. At adoption, the standard will be applied using a modified retrospective approach. Alternatively, ASU 2018-11, Leases (Topic 842) Targeted Improvements, allows the Company to initially apply the new lease standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings and to continue to apply legacy guidance in ASC 840, Leases, including its disclosures requirements, in the comparative periods presented in the year of adoption. The Company has substantially completed its evaluation of the impact of the standard on its consolidated financial statements and related disclosures and expects that it will record a right of use asset and lease liability of less than $100 thousand on January 1, 2019 for its lessee operating leases.

The Company also concluded that Omega's long-term contract with the DOD to provide natural gas distribution to Fort Leonard Wood through Omega's pipeline distribution system on the military post meets the definition of a lease under ASC 842. Omega is the lessor in the contract and the lease is expected to be classified as an operating lease. The Company noted the non-lease component is the predominant component in the lease, and the timing and pattern of transfer of the lease component and the associated non-lease components are the same. Therefore, the Company expects to elect a practical expedient that allows lessors to not separate lease and related non-lease components if the non-lease components otherwise would be accounted for in accordance with the revenue standard under ASC 606. With the expected election of this practical expedient, the Company is expected to account for the DOD contract under the revenue standard, which is consistent with the Company's current accounting for the contract.

In August 2018, the FASB issued ASU 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"), which modifies the disclosure requirements on fair value measurements. The amendments add disclosure requirements for the changes in unrealized gains and losses for the period that are held in other comprehensive income for recurring Level 3 fair value measurements as well as disclosure requirements for the range and weighted average of significant observable inputs used to develop Level 3 fair value measurements. The amendments also clarify that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date. ASU 2018-13 is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2019. Management does not expect the adoption of this standard to have a material impact on the Company's consolidated financial statements.

Leased Properties and Leases (Tables)

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

Significant leased properties, major tenants and lease terms

The following table summarizes the significant leased properties, major tenants and lease terms:



Summary of Leased Properties, Major Tenants and Lease Terms
Property	Grand Isle Gathering System	Pinedale LGS
Location	Gulf of Mexico/Louisiana	Pinedale, WY
Tenant	Energy XXI GIGS Services, LLC	Ultra Wyoming LGS, LLC
Asset Description	Approximately 153 miles of offshore pipeline with total capacity of 120 thousand Bbls/d, including a 16-acre onshore terminal and saltwater disposal system.	Approximately 150 miles of pipelines and four central storage facilities.
Date Acquired	June 2015	December 2012
Initial Lease Term	11 years	15 years
Renewal Option	Equal to the lesser of 9-years or 75 percent of the remaining useful life	5-year terms
Current Monthly Rent Payments	7/1/17 - 6/30/18: $2,854,667 7/1/18 - 6/30/19: $2,860,917	$1,776,772⁽¹⁾
Estimated Useful Life	27 years	26 years
(1) Monthly rent payments increased to $1,812,307 beginning January 1, 2019.

Schedule of future minimum lease receipts

The future contracted minimum rental receipts for all leases as of December 31, 2018, are as follows:



Future Minimum Lease Receipts
Year Ending December 31,	Amount
2019	$	58,347,190
2020	65,383,190
2021	71,345,190
2022	70,322,690
2023	67,274,690
Thereafter	193,639,760
Total	$	526,312,710

Schedule of Significant Leases

The table below displays the Company's individually significant leases as a percentage of total leased properties and total lease revenues for the periods presented:



	As a Percentage of ⁽¹⁾
	Leased Properties				Lease Revenues
	As of December 31,				For the Years Ended December 31,
	2018		2017		2018		2017		2016
Pinedale LGS ⁽²⁾	44.5	%	39.9	%	35.2	%	31.2	%	30.4	%
Grand Isle Gathering System	55.2	%	49.7	%	55.9	%	59.1	%	59.8	%
Portland Terminal Facility ⁽³⁾	—	%	10.1	%	8.8	%	9.6	%	9.7	%
(1) Insignificant leases are not presented; thus percentages may not sum to 100%.
(2) Pinedale LGS lease revenues include variable rent of $4.3 million and $587 thousand for the years ended December 31, 2018 and 2017, respectively.
(3) On December 21, 2018, the Portland Terminal Facility was sold to Zenith Terminals, terminating the Portland Lease Agreement. Refer to "Sale of the Portland Terminal Facility" section below.

Schedule of Depreciation, Amortization and Accretion

The following table reflects the depreciation and amortization included in the accompanying Consolidated Statements of Income associated with the Company's leases and leased properties:



	For the Years Ended December 31,
	2018		2017		2016
Depreciation Expense
GIGS	$	10,836,590	$	9,754,596	$	8,605,506
Pinedale	8,869,440		8,869,440		8,869,440
Portland Terminal Facility ⁽¹⁾	1,243,769		1,275,660		843,084
United Property Systems	36,662		36,298		32,424
Total Depreciation Expense	$	20,986,461	$	19,935,994	$	18,350,454
Amortization Expense - Deferred Lease Costs
GIGS	$	30,564	$	30,564	$	30,564
Pinedale	61,368		61,368		61,368
Total Amortization Expense - Deferred Lease Costs	$	91,932	$	91,932	$	91,932
ARO Accretion Expense
GIGS	$	499,562	$	663,065	$	726,664
Total ARO Accretion Expense	$	499,562	$	663,065	$	726,664
(1) On December 21, 2018, the Portland Terminal Facility was sold to Zenith Terminals, terminating the Portland Lease Agreement. Refer to "Sale of the Portland Terminal Facility" section below.

Schedule of Deferred Lease Costs

The following table reflects the deferred costs that are included in the accompanying Consolidated Balance Sheets associated with the Company's leased properties:



	December 31, 2018		December 31, 2017
Net Deferred Lease Costs
GIGS	$	229,319	$	259,883
Pinedale	550,349		611,717
Total Deferred Lease Costs, net	$	779,668	$	871,600

Transportation and Distribution Revenue (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

The table below summarizes the Company's contract asset and contract liability balances related to its transportation and distribution revenue contracts as of December 31, 2018:



	Contract Asset⁽¹⁾			Contract Liability⁽²⁾
Beginning Balance January 1, 2018	$	328,033		$	—
Cumulative Transition Adjustment Upon Adoption of ASC 606	—			3,307,109
Unrecognized Performance Obligations	(836,628		)	3,307,109
Recognized Performance Obligations	689,174			(91,864		)
Ending Balance December 31, 2018	$	180,579		$	6,522,354
(1) The contract asset balance is included in prepaid expenses and other assets in the Consolidated Balance Sheets.
(2) The contract liability balance is included in unearned revenue in the Consolidated Balance Sheets.

Schedules of Concentration of Risk

The following is a breakout of the Company's transportation and distribution revenue for the years ended December 31, 2018, 2017 and 2016:



	For the Years Ended December 31,
	2018		2017		2016
Natural gas transportation contracts	64.3	%	71.5	%	67.6	%
Natural gas distribution contracts	26.8	%	20.4	%	19.0	%

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

In accordance with ASC 606 transition disclosure requirements, the cumulative effect of changes made to the Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASC 606 were as follows:



Balance Sheet	Balance at December 31, 2017		Adjustments Due to ASC 606			Balance at January 1, 2018
Assets
Deferred Tax Asset	$	2,244,629	$	857,864		$	3,102,493
Liabilities
Unearned revenue	3,397,717		3,307,109			6,704,826
Equity
Additional paid in capital	331,773,716		(2,449,245		)	329,324,471

The tables below disclose the impact of adoption on the Consolidated Balance Sheet and Consolidated Statement of Income as of and for the year ended December 31, 2018:



	As of December 31, 2018
Balance Sheet	As Reported		Balances Without Adoption of ASC 606		Effect of Change Higher/(Lower)
Assets
Deferred Tax Asset	$	4,948,203	$	3,256,304	$	1,691,899
Liabilities
Unearned revenue	6,552,049		29,695		6,522,354
Equity
Additional paid in capital	320,295,969		325,126,424		(4,830,455		)



	For the Year Ended December 31, 2018
Statement of Income	As Reported			Balances Without Adoption of ASC 606			Effect of Change Higher/(Lower)
Revenues
Transportation and distribution revenue	$	16,484,236		$	19,699,481		$	(3,215,245	)
Taxes
Deferred tax benefit	(1,833,340		)	(999,305		)	(834,035		)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Components of deferred tax assets and liabilities

Components of the Company's deferred tax assets and liabilities as of December 31, 2018 and 2017, are as follows:



Deferred Tax Assets and Liabilities
	December 31, 2018			December 31, 2017
Deferred Tax Assets:
Deferred contract revenue	$	1,691,899		$	—
Net operating loss carryforwards	5,424,671			957,719
Loan loss provision	263,508			247,814
Basis reduction of investment in partnerships	—			261,549
Other	95,695			2,965,321
Sub-total	$	7,475,773		$	4,432,403
Deferred Tax Liabilities:
Net unrealized gain on investment securities	$	—		$	(342,669	)
Cost recovery of leased and fixed assets	(2,508,547		)	(1,845,105		)
Other	(19,023		)	—
Sub-total	$	(2,527,570	)	$	(2,187,774	)
Total net deferred tax asset	$	4,948,203		$	2,244,629

Total income tax expense

Total income tax expense (benefit) differs from the amount computed by applying the federal statutory income tax rate of 21 percent for the year ended December 31, 2018 and 35 percent for the years ended December 31, 2017 and 2016, to income or loss from operations and other income and expense for the years presented, as follows:



Income Tax Expense (Benefit)
	For the Years Ended December 31,
	2018			2017			2016
Application of statutory income tax rate	$	8,671,562		$	12,231,838		$	10,219,573
State income taxes, net of federal tax benefit	(583,186		)	352,708			26,215
Income of Real Estate Investment Trust not subject to tax	(10,339,520		)	(11,975,853		)	(10,663,371		)
Tax reform impact	—			1,262,444			—
Other	(167,582		)	474,181			(46,837		)
Total income tax expense (benefit)	$	(2,418,726	)	$	2,345,318		$	(464,420	)

Components of income tax expense

The components of income tax expense (benefit) include the following for the periods presented:



Components of Income Tax Expense (Benefit)
	For the Years Ended December 31,
	2018			2017			2016
Current tax expense (benefit)
Federal	$	(413,248	)	$	2,498,363		$	(321,720	)
State (net of federal tax benefit)	(172,138		)	333,295			8,613
Total current tax expense (benefit)	$	(585,386	)	$	2,831,658		$	(313,107	)
Deferred tax expense (benefit)
Federal	$	(1,422,292	)	$	(505,753	)	$	(168,915	)
State (net of federal tax benefit)	(411,048		)	19,413			17,602
Total deferred tax benefit	$	(1,833,340	)	$	(486,340	)	$	(151,313	)
Total income tax expense (benefit), net	$	(2,418,726	)	$	2,345,318		$	(464,420	)

Aggregate cost of securities for federal income tax purposes and securities with unrealized appreciation and depreciation

The aggregate cost of securities for federal income tax purposes and securities with unrealized appreciation and depreciation, were as follows:



Aggregate Cost of Securities for Income Tax Purposes
	December 31, 2018		December 31, 2017
Aggregate cost for federal income tax purposes	$	408,051	$	3,063,430
Gross unrealized appreciation	—		325,130
Gross unrealized depreciation	—		—
Net unrealized appreciation	$	—	$	325,130

Dividends declared and paid

The per share characterization by quarter is reflected in the following tables:



2018 Preferred Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Unrecaptured Section 1250 Gain		Section 199A Dividends
2/14/2018	2/13/2018	2/28/2018	$	0.4609	$	0.3285	$	—	$	0.1324	$	0.0619	$	0.3285
5/17/2018	5/16/2018	5/31/2018	0.4609		0.3285		—		0.1324		0.0619		0.3285
8/17/2018	8/16/2018	8/31/2018	0.4609		0.3285		—		0.1324		0.0619		0.3285
11/15/2018	11/14/2018	11/30/2018	0.4609		0.3285		—		0.1324		0.0619		0.3285
Total 2018 Distributions			$	1.8436	$	1.3140	$	—	$	0.5296	$	0.2476	$	1.3140



2017 Preferred Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
2/13/2017	2/9/2017	2/28/2017	$	0.4609	$	0.4609	$	0.0611	$	—	$	—
5/16/2017	5/12/2017	5/31/2017	0.4609		0.4609		0.0611		—		—
8/17/2017	8/15/2017	8/31/2017	0.4609		0.4609		0.0611		—		—
11/15/2017	11/14/2017	11/30/2017	0.4609		0.4609		0.0611		—		—
Total 2017 Distributions			$	1.8436	$	1.8436	$	0.2444	$	—	$	—



2016 Preferred Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
02/12/2016	02/10/2016	02/29/2016	$	0.4609	$	0.4609	$	—	$	—	$	—
05/13/2016	05/11/2016	05/31/2016	0.4609		0.4609		—		—		—
08/17/2016	08/15/2016	08/31/2016	0.4609		0.4609		—		—		—
11/15/2016	11/11/2016	11/30/2016	0.4609		0.4609		—		—		—
Total 2016 Distributions			$	1.8436	$	1.8436	$	—	$	—	$	—

The per share characterization by quarter is reflected in the following tables:



2018 Common Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Unrecaptured Section 1250 Gain		Section 199A Dividends
2/14/2018	2/13/2018	2/28/2018	$	0.7500	$	0.5346	$	—	$	0.2154	$	0.1007	$	0.5346
5/17/2018	5/16/2018	5/31/2018	0.7500		0.5346		—		0.2154		0.1007		0.5346
8/17/2018	8/16/2018	8/31/2018	0.7500		0.5346		—		0.2154		0.1007		0.5346
11/15/2018	11/14/2018	11/30/2018	0.7500		0.5346		—		0.2154		0.1007		0.5346
Total 2018 Distributions			$	3.0000	$	2.1384	$	—	$	0.8616	$	0.4028	$	2.1384



2017 Common Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
2/13/2017	2/9/2017	2/28/2017	$	0.7500	$	0.5925	$	0.0785	$	—	$	0.1575
5/16/2017	5/12/2017	5/31/2017	0.7500		0.5925		0.0785		—		0.1575
8/17/2017	8/15/2017	8/31/2017	0.7500		0.5925		0.0785		—		0.1575
11/15/2017	11/14/2017	11/30/2017	0.7500		0.5925		0.0785		—		0.1575
Total 2017 Distributions			$	3.0000	$	2.3700	$	0.3140	$	—	$	0.6300



2016 Common Stock Tax Information
Record Date	Ex-Dividend Date	Payable Date	Total Distribution per Share		Total Ordinary Dividends		Qualified Dividends		Capital Gain Distributions		Nondividend Distributions
02/12/2016	02/10/2016	02/29/2016	$	0.7500	$	0.2955	$	—	$	—	$	0.4545
05/13/2016	05/11/2016	05/31/2016	0.7500		0.2955		—		—		0.4545
08/17/2016	08/15/2016	08/31/2016	0.7500		0.2955		—		—		0.4545
11/15/2016	11/11/2016	11/30/2016	0.7500		0.2955		—		—		0.4545
Total 2016 Distributions			$	3.0000	$	1.1820	$	—	$	—	$	1.8180

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:



Property and Equipment
	December 31, 2018			December 31, 2017
Land	$	580,000		$	580,000
Natural gas pipeline	124,306,175			124,303,315
Vehicles and trailers	696,164			650,634
Office equipment and computers	268,559			268,559
Gross property and equipment	$	125,850,898		$	125,802,508
Less: accumulated depreciation	(15,969,346		)	(12,643,636		)
Net property and equipment	$	109,881,552		$	113,158,872

Fair Value (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Assets and liabilities measured on a recurring basis

The following tables set forth the Company's assets and liabilities measured at fair value on a recurring basis, by input level within the fair value hierarchy, as of December 31, 2017:



	December 31, 2017
	Total		Fair Value
	Total		Level 1		Level 2		Level 3
Assets:
Other equity securities	$	2,958,315	$	—	$	—	$	2,958,315
Total Assets	$	2,958,315	$	—	$	—	$	2,958,315

The changes for all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs

The changes for all Level 3 securities measured at fair value on a recurring basis using significant unobservable inputs for the years ended December 31, 2018 and 2017, are as follows:



Level 3 Rollforward
For the Year Ended 2018	Fair Value Beginning Balance		Acquisitions		Disposals			Total Realized and Unrealized Gains (Losses) Included in Net Income			Return of Capital Adjustments Impacting Cost Basis of Securities			Fair Value Ending Balance		Changes in Unrealized Gains Included In Net Income, Relating to Securities Still Held ⁽¹⁾
Other equity securities	$	2,958,315	$	—	$	(449,067	)	$	(1,845,309	)	$	(663,939	)	$	—	$	—
Total	$	2,958,315	$	—	$	(449,067	)	$	(1,845,309	)	$	(663,939	)	$	—	$	—

For the Year Ended 2017
Other equity securities	$	9,287,209	$	1,161,034	$	(8,752,201	)	$	1,531,827		$	(269,554	)	$	2,958,315	$	295,161
Total	$	9,287,209	$	1,161,034	$	(8,752,201	)	$	1,531,827		$	(269,554	)	$	2,958,315	$	295,161
(1) Located in Net realized and unrealized gain on other equity securities in the Consolidated Statements of Income

Carrying and Fair Value Amounts



Carrying and Fair Value Amounts
	Level within Fair Value Hierarchy	December 31, 2018				December 31, 2017
	Level within Fair Value Hierarchy	Carrying Amount ⁽¹⁾		Fair Value		Carrying Amount ⁽¹⁾		Fair Value
Financial Assets:
Cash and cash equivalents	Level 1	$	69,287,177	$	69,287,177	$	15,787,069	$	15,787,069
Financing notes receivable (Note 5)	Level 3	1,300,000		1,300,000		1,500,000		1,500,000
Financial Liabilities:
Secured credit facilities	Level 2	$	37,261,109	$	37,261,109	$	40,745,354	$	40,745,354
Unsecured convertible senior notes	Level 1	112,777,271		119,378,982		112,032,083		139,101,660
(1) The carrying value of debt balances are presented net of unamortized original issuance discount and debt issuance costs.

Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt

The following is a summary of debt facilities and balances as of December 31, 2018 and 2017:



	Total Commitment or Original Principal		Quarterly Principal Payments			December 31, 2018				December 31, 2017
	Total Commitment or Original Principal		Quarterly Principal Payments		Maturity Date	Amount Outstanding		Interest Rate		Amount Outstanding		Interest Rate
CorEnergy Secured Credit Facility:
CorEnergy Revolver	$	160,000,000	$	—	7/28/2022	$	—	5.25	%	$	—	4.32	%
MoGas Revolver	1,000,000		—		7/28/2022	—		5.25	%	—		4.32	%
Omega Line of Credit	1,500,000		—		7/31/2019	—		6.50	%	—		5.57	%
Pinedale Secured Credit Facility:
Amended Pinedale Term Credit Facility	41,000,000		882,000		12/29/2022	37,472,000		6.50	%	41,000,000		6.50	%
7.00% Unsecured Convertible Senior Notes	115,000,000		—		6/15/2020	113,958,000		7.00	%	114,000,000		7.00	%
Total Debt						$	151,430,000			$	155,000,000
Less:
Unamortized deferred financing costs ⁽¹⁾						$	283,278			$	375,309
Unamortized discount on 7.00% Convertible Senior Notes						1,108,342				1,847,254
Long-term debt, net of deferred financing costs						$	150,038,380			$	152,777,437
Debt due within one year						$	3,528,000			$	3,528,000
(1) Unamortized deferred financing costs related to the Company's revolving credit facilities are included in Deferred Costs in the Assets section of the Consolidated Balance Sheets. Refer to the "Deferred Financing Costs" paragraph below.

A summary of deferred financing cost amortization expenses for the years ended December 31, 2018, 2017 and 2016 is as follows:



Deferred Financing Cost Amortization Expense ⁽¹⁾⁽²⁾
	For the Years Ended December 31,
	2018		2017		2016
CorEnergy Credit Facility	$	574,541	$	873,601	$	1,078,526
Amended Pinedale Term Credit Facility	52,728		392		156,330
Total Deferred Debt Cost Amortization	$	627,269	$	873,993	$	1,234,856
(1) Amortization of deferred debt issuance costs is included in interest expense in the Consolidated Statements of Income.
(2) For the amount of deferred debt costs amortization relating to the Convertible Notes included in the Consolidated Statements of Income, refer to the Convertible Note Interest Expense table below.

Schedule of Maturities of Long-term Debt

The remaining contractual principal payments as of December 31, 2018 under the Amended Pinedale Term Credit Facility are as follows:



Year	Amended Pinedale Term Credit Facility
2019	$	3,528,000
2020	3,528,000
2021	3,528,000
2022	26,888,000
2023	—
Thereafter	—
Total	$	37,472,000

Components of convertible debt

The following is a summary of the impact of Convertible Notes on interest expense for the years ended December 31, 2018, 2017 and 2016:



Convertible Note Interest Expense
	For the Years Ended December 31,
	2018		2017		2016
7.00% Convertible Notes	$	7,979,118	$	7,980,000	$	8,008,195
Discount Amortization	738,912		738,912		744,081
Deferred Debt Issuance Cost Amortization	48,276		48,276		48,566
Total	$	8,766,306	$	8,767,188	$	8,800,842

Asset Retirement Obligation (Tables)

12 Months Ended

Dec. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Schedule of asset retirement obligations

The following table is a reconciliation of the asset retirement obligation as of December 31, 2018 and 2017:



Asset Retirement Obligation
	For the Years Ended December 31,
	2018			2017
Beginning asset retirement obligation	$	9,170,493		$	11,882,943
Liabilities assumed	—			—
ARO accretion expense	499,562			663,065
Liabilities settled	(628,300		)	—
Revision in cash flow estimates	(1,085,412		)	(3,375,515		)
Ending asset retirement obligation	$	7,956,343		$	9,170,493

Interest Rate Hedge Swaps (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of gain (loss) on derivative instruments

The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2017 and 2016 (note that the ineffective portion is not presented as it was inconsequential for all periods presented):



	For the Years Ended December 31,
Derivatives in Cash Flow Hedging Relationship	2017		2016
Amount of Loss on Derivatives Recognized in AOCI (Effective Portion)	$	—	$	(300,181	)
Amount of Loss on Derivatives Reclassified from AOCI (Effective Portion) Recognized in Net Income⁽¹⁾	—		(50,964		)

Derivatives Not Designated as Hedging Instruments
Amount of Gain on Derivatives Recognized in Income⁽²⁾	$	25,842	$	73,204
(1) Included in "Interest Expense" on the face of the Consolidated Statements of Income and Comprehensive Income.
(2) The gains recognized in income on derivatives include changes in fair value for derivatives subsequent to de-designation from hedge accounting.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per share



Earnings Per Share
	For the Years Ended December 31,
	2018		2017		2016
Net income attributable to CorEnergy stockholders	$	43,711,876	$	32,602,790	$	29,663,200
Less: preferred dividend requirements⁽¹⁾	9,548,377		7,953,988		4,148,437
Net income attributable to common stockholders	$	34,163,499	$	24,648,802	$	25,514,763
Weighted average shares - basic	11,935,021		11,900,516		11,901,985
Basic earnings per share	$	2.86	$	2.07	$	2.14

Net income attributable to common stockholders (from above)	$	34,163,499	$	24,648,802	$	25,514,763
Add: After tax effect of convertible interest	8,766,306		—		—
Income attributable for dilutive securities	$	42,929,805	$	24,648,802	$	25,514,763
Weighted average shares - diluted	15,389,180		11,900,516		11,901,985
Diluted earnings per share	$	2.79	$	2.07	$	2.14
(1) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2018, preferred dividend requirements were reduced by $10,554 representing the discount in the repurchase price paid compared to the carrying amount derecognized.

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	For the Fiscal 2018 Quarters Ended
	March 31			June 30			September 30			December 31
Revenue
Lease revenue	$	17,591,859		$	18,275,859		$	18,391,983		$	18,487,661
Transportation and distribution revenue	3,952,979			3,874,157			4,244,722			4,412,378
Total Revenue	21,544,838			22,150,016			22,636,705			22,900,039
Expenses
Transportation and distribution expenses	1,572,896			1,534,524			2,241,999			1,861,329
General and administrative	2,727,057			3,107,776			3,046,481			4,161,533
Depreciation, amortization and ARO accretion expense	6,289,330			6,290,082			6,289,459			6,078,582
Provision for loan (gain) loss	500,000			—			—			(536,867		)
Total Expenses	11,089,283			10,932,382			11,577,939			11,564,577
Operating Income	$	10,455,555		$	11,217,634		$	11,058,766		$	11,335,462
Other Income (Expense)
Net distributions and dividend income	$	3,951		$	55,714		$	5,627		$	41,503
Net realized and unrealized gain (loss) on other equity securities	13,966			(881,100		)	(930,147		)	(48,028		)
Interest expense	(3,210,590		)	(3,196,248		)	(3,183,589		)	(3,168,583		)
Gain on the sale of leased property, net	—			—			—			11,723,257
Total Other Income (Expense)	(3,192,673		)	(4,021,634		)	(4,108,109		)	8,548,149
Income before income taxes	7,262,882			7,196,000			6,950,657			19,883,611
Taxes
Current tax benefit	(35,549		)	(10,785		)	(8,393		)	(530,659		)
Deferred tax benefit	(409,277		)	(604,064		)	(738,274		)	(81,725		)
Income tax benefit, net	(444,826		)	(614,849		)	(746,667		)	(612,384		)
Net Income attributable to CorEnergy Stockholders	$	7,707,708		$	7,810,849		$	7,697,324		$	20,495,995
Preferred dividend requirements	2,396,875			2,396,875			2,396,875			2,357,752
Net Income attributable to Common Stockholders	$	5,310,833		$	5,413,974		$	5,300,449		$	18,138,243

Earnings Per Common Share:
Basic	$	0.45		$	0.45		$	0.44		$	1.52
Diluted	$	0.45		$	0.45		$	0.44		$	1.32



	For the Fiscal 2017 Quarters Ended
	March 31			June 30			September 30			December 31
Revenue
Lease revenue	$	17,066,526		$	17,050,092		$	17,173,676		$	17,513,510
Transportation and distribution revenue	5,010,590			4,775,780			5,270,628			4,888,575
Total Revenue	22,077,116			21,825,872			22,444,304			22,402,085
Expenses
Transportation and distribution expenses	1,335,570			1,362,980			2,384,182			1,646,975
General and administrative	3,061,240			2,558,339			2,632,546			2,534,372
Depreciation, amortization and ARO accretion expense	6,005,908			6,005,995			6,017,664			6,018,143
Total Expenses	10,402,718			9,927,314			11,034,392			10,199,490
Operating Income	$	11,674,398		$	11,898,558		$	11,409,912		$	12,202,595
Other Income (Expense)
Net distributions and dividend income	$	43,462		$	221,440		$	213,040		$	202,149
Net realized and unrealized gain (loss) on other equity securities	(544,208		)	614,634			1,340,197			121,204
Interest expense	(3,454,397		)	(3,202,837		)	(2,928,036		)	(2,793,245		)
Loss on extinguishment of debt	—			—			(234,433		)	(102,500		)
Total Other Expense	(3,955,143		)	(2,366,763		)	(1,609,232		)	(2,572,392		)
Income before income taxes	7,719,255			9,531,795			9,800,680			9,630,203
Taxes
Current tax expense (benefit)	(33,760		)	57,651			65,131			2,742,636
Deferred tax expense (benefit)	(298,846		)	38,084			126,440			(352,018		)
Income tax expense (benefit), net	(332,606		)	95,735			191,571			2,390,618
Net Income	8,051,861			9,436,060			9,609,109			7,239,585
Less: Net Income attributable to non-controlling interest	382,383			435,888			431,825			483,730
Net Income attributable to CorEnergy Stockholders	$	7,669,478		$	9,000,172		$	9,177,284		$	6,755,855
Preferred dividend requirements	1,037,109			2,123,129			2,396,875			2,396,875
Net Income attributable to Common Stockholders	$	6,632,369		$	6,877,043		$	6,780,409		$	4,358,980

Earnings Per Common Share:
Basic	$	0.56		$	0.58		$	0.57		$	0.37
Diluted	$	0.56		$	0.58		$	0.57		$	0.37

Introduction and Basis of Presentation - Narrative (Details)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pinedale LP
Schedule of Equity Method Investments [Line Items]
Equity interest percentage	100.00%
Grand Isle Corridor LP
Schedule of Equity Method Investments [Line Items]
Equity interest percentage	100.00%	100.00%	100.00%

Significant Accounting Policies (Details) - USD ($)	3 Months Ended				12 Months Ended
Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for loan (gain) loss	$ (536,867)	$ 0	$ 0	$ 500,000	$ (36,867)	$ 0	$ 5,014,466
Subsequent event \| ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU asset								$ 100,000
Lease liability								$ 100,000

Leased Properties and Leases - Leased Properties (Details) bbl / d in Thousands		12 Months Ended
	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($) a bbl / d facility leased_property mi
Sale Leaseback Transaction [Line Items]
Number of significant leased properties \| leased_property		2
Grand Isle Gathering System
Sale Leaseback Transaction [Line Items]
Initial term		11 years
Renewal term		9 years
Renewal Term, percentage of remaining useful life		75.00%
Length of offshore pipeline (in miles) \| mi		153
Pipeline capacity (in bbl/day) \| bbl / d		120
Number of acres in the onshore terminal and saltwater disposal system (in acres) \| a		16
Current Monthly Rent Payments		$ 2,854,667
Expected future monthly rent payments		$ 2,860,917
Estimated Useful Life		27 years
Pinedale LGS
Sale Leaseback Transaction [Line Items]
Initial term		15 years
Renewal term		5 years
Length of offshore pipeline (in miles) \| mi		150
Number of storage facilities \| facility		4
Current Monthly Rent Payments		$ 1,776,772
Estimated Useful Life		26 years
Minimum
Sale Leaseback Transaction [Line Items]
Initial term		11 years
Maximum
Sale Leaseback Transaction [Line Items]
Initial term		15 years
Forecast \| Pinedale LGS
Sale Leaseback Transaction [Line Items]
Current Monthly Rent Payments	$ 1,812,307

Leased Properties and Leases - Future Minimum Lease Receipts (Details)	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 58,347,190
2020	65,383,190
2021	71,345,190
2022	70,322,690
2023	67,274,690
Thereafter	193,639,760
Total	$ 526,312,710

Leased Properties and Leases - Significant Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Pinedale LGS
Operating Leased Assets [Line Items]
Percentage of total leased properties	44.50%	39.90%
Percentage of leased property revenue	35.20%	31.20%	30.40%
Variable rent	$ 4,300	$ 587
Grand Isle Gathering System
Operating Leased Assets [Line Items]
Percentage of total leased properties	55.20%	49.70%
Percentage of leased property revenue	55.90%	59.10%	59.80%
Portland Terminal Facility
Operating Leased Assets [Line Items]
Percentage of total leased properties	0.00%	10.10%
Percentage of leased property revenue	8.80%	9.60%	9.70%

Leased Properties and Leases - Amortization, Depreciation Expense, Accretion Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Sale Leaseback Transaction [Line Items]
Depreciation Expense	$ 3,400,000	$ 3,400,000	$ 3,400,000
ARO Accretion Expense	499,562	663,065
All Properties [Member]
Sale Leaseback Transaction [Line Items]
Depreciation Expense	20,986,461	19,935,994	18,350,454
Amortization Expense - Deferred Lease Costs	91,932	91,932	91,932
ARO Accretion Expense	499,562	663,065	726,664
Net Deferred Lease Costs	779,668	871,600
GIGS
Sale Leaseback Transaction [Line Items]
Depreciation Expense	10,836,590	9,754,596	8,605,506
Amortization Expense - Deferred Lease Costs	30,564	30,564	30,564
ARO Accretion Expense	499,562	663,065	726,664
Net Deferred Lease Costs	229,319	259,883
Pinedale LGS
Sale Leaseback Transaction [Line Items]
Depreciation Expense	8,869,440	8,869,440	8,869,440
Amortization Expense - Deferred Lease Costs	61,368	61,368	61,368
Net Deferred Lease Costs	550,349	611,717
Portland Terminal Facility
Sale Leaseback Transaction [Line Items]
Depreciation Expense	1,243,769	1,275,660	843,084
United Property Systems
Sale Leaseback Transaction [Line Items]
Depreciation Expense	$ 36,662	$ 36,298	$ 32,424

Leased Properties and Leases - Sale of the Portland Terminal Facility (Details) - USD ($)		3 Months Ended				12 Months Ended
	Dec. 21, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of leased property						$ 55,553,975	$ 0	$ 0
Gain on sale of leased property		$ 11,723,257	$ 0	$ 0	$ 0	11,723,257	0	$ 0
Deferred rent receivable		25,942,755				25,942,755	22,060,787
Joliet Terminal
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Investments							$ 1,200,000
Realized loss on sale of investment	$ 715,000
Disposed of by Sale, Not Discontinued Operations \| Zenith Energy Terminals Holdings \| Portland Terminal Facility and Joliet Terminal
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal consideration	61,000,000
Proceeds from the sale of leased property	56,000,000
Note receivable	5,000,000
Disposed of by Sale, Not Discontinued Operations \| Zenith Energy Terminals Holdings \| Portland Terminal Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal consideration	60,600,000
Disposal consideration if sold to third party within 6 months, more than	60,000,000
Gain on sale of leased property						11,700,000
Deferred rent receivable		$ 3,200,000				$ 3,200,000
Disposed of by Sale, Not Discontinued Operations \| Zenith Energy Terminals Holdings \| Joliet Terminal
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal consideration	400,000
Portland Terminal Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property investment	$ 45,700,000

Leased Properties and Leases - Pinedale LGS Acquisition (Details) - USD ($) $ in Millions	Dec. 29, 2017	Dec. 31, 2018
Pinedale LP
Noncontrolling Interest [Line Items]
Difference in fair value of purchase consideration and carrying amount		$ 5.6
Controlling economic interest	100.00%
Pinedale LP \| Pinedale LP I
Noncontrolling Interest [Line Items]
Purchase price	$ 32.9
Pinedale LGS \| Limited Partner \| Prudential
Noncontrolling Interest [Line Items]
Ownership percentage	18.95%
Noncontrolling economic interest	$ 27.3

Transportation and Distribution Revenue - Contract Assets and Liabilities (Details) - USD ($)		11 Months Ended	12 Months Ended
	Jan. 01, 2018	Nov. 30, 2018	Dec. 31, 2018
Change In Contract With Customer, Asset [Roll Forward]
Beginning Balance	$ 328,033	$ 328,033	$ 328,033
Cumulative Transition Adjustment Upon Adoption of ASC 606			0
Unrecognized Performance Obligations			(836,628)
Recognized Performance Obligations			689,174
Ending Balance			180,579
Change In Contract With Customer, Liability [Roll Forward]
Beginning Balance	0	0	0
Cumulative Transition Adjustment Upon Adoption of ASC 606	$ 3,300,000		3,307,109
Unrecognized Performance Obligations		$ 992,000	3,307,109
Recognized Performance Obligations			(91,864)
Ending Balance			$ 6,522,354

Transportation and Distribution Revenue - Additional Information (Details) - USD ($)		11 Months Ended	12 Months Ended			143 Months Ended
	Jan. 01, 2018	Nov. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 31, 2030
Concentration Risk [Line Items]
Cumulative Transition Adjustment Upon Adoption of ASC 606	$ 3,300,000		$ 3,307,109
Unrecognized performance obligations		$ 992,000	3,307,109
Remaining performance obligation			$ 63,500,000
Natural gas transportation contracts \| Product and services \| Revenue
Concentration Risk [Line Items]
Concentration percentage			64.30%	71.50%	67.60%
Natural gas distribution contracts \| Product and services \| Revenue
Concentration Risk [Line Items]
Concentration percentage			26.80%	20.40%	19.00%
Forecast
Concentration Risk [Line Items]
Recognized performance obligations quarterly						$ 138,000

Transportation and Distribution Revenue - Balance Sheet and Income Statement (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred Tax Asset	$ 4,948,203				$ 2,244,629				$ 4,948,203	$ 2,244,629		$ 3,102,493
Unearned revenue	6,552,049				3,397,717				6,552,049	3,397,717		6,704,826
Additional paid-in capital	320,295,969				331,773,716				320,295,969	331,773,716		329,324,471
Transportation and distribution revenue									16,484,236
Deferred tax benefit	(81,725)	$ (738,274)	$ (604,064)	$ (409,277)	(352,018)	$ 126,440	$ 38,084	$ (298,846)	(1,833,340)	(486,340)	$ (151,313)
Balances Without Adoption of ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred Tax Asset					2,244,629					2,244,629
Unearned revenue					3,397,717					3,397,717
Additional paid-in capital					$ 331,773,716					$ 331,773,716
Balances Without Adoption of ASC 606 \| ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred Tax Asset	3,256,304								3,256,304
Unearned revenue	29,695								29,695
Additional paid-in capital	325,126,424								325,126,424
Transportation and distribution revenue									19,699,481
Deferred tax benefit									(999,305)
Effect of Change Higher/(Lower) \| ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred Tax Asset	1,691,899								1,691,899			857,864
Unearned revenue	6,522,354								6,522,354			3,307,109
Additional paid-in capital	$ (4,830,455)								(4,830,455)			$ (2,449,245)
Transportation and distribution revenue									(3,215,245)
Deferred tax benefit									$ (834,035)

Financing Notes Receivable - Four Wood Financing Note Receivable (Details) - USD ($)			3 Months Ended				12 Months Ended
	Dec. 12, 2018	Dec. 31, 2014	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 11, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan (gain) loss			$ (536,867)	$ 0	$ 0	$ 500,000	$ (36,867)	$ 0	$ 5,014,466
Cash consideration	$ 237,000						17,999	0	223,451
SWD Enterprises
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum borrowing capacity								1,500,000
Provision for loan (gain) loss						$ 500,000	(37,000)		3,500,000
Deferred origination costs									71,000
Interest accrued									$ 98,000
Compass REIT Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable	1,300,000		$ 1,300,000				$ 1,300,000
Maximum borrowing capacity	$ 1,300,000
Line of Credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable		$ 4,000,000
Basis spread on variable rate		2.00%
Line of Credit \| REIT Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate		12.00%
Line of Credit \| TRS Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate		13.00%
Long-term Debt \| Subsidiaries
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable		$ 1,000,000
SWD Enterprises \| REIT Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable								$ 1,500,000		$ 1,000,000
LIBOR \| Compass REIT Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on variable rate	6.00%

Financing Notes Receivable - Black Bison Financing Notes (Details) - USD ($)			3 Months Ended				12 Months Ended
	Dec. 12, 2018	Jun. 16, 2016	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Feb. 29, 2016	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan (gain) loss			$ (536,867)	$ 0	$ 0	$ 500,000	$ (36,867)	$ 0	$ 5,014,466
Proceeds from asset foreclosure and sale	$ 237,000						$ 17,999	$ 0	223,451
Black Bison Water Services LLC \| Long-term Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum borrowing capacity												$ 12,000,000
Subsidiaries \| Black Bison Water Services LLC \| Long-term Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum borrowing capacity												$ 3,300,000
Loans Agreement \| Subsidiaries
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan (gain) loss										$ 13,800,000
Outstanding loan balance											$ 2,000,000
BB Intermediate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan (gain) loss									$ 832,000
Equity interest percentage											100.00%
Wells and Related Equipment and Facilities \| Expedition Water Solutions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from asset foreclosure and sale		$ 748,000
Fair value of future royalty payments		$ 450,000

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred Tax Assets:
Deferred contract revenue	$ 1,691,899	$ 0
Net operating loss carryforwards	5,424,671	957,719
Loan loss provision	263,508	247,814
Basis reduction of investment in partnerships	0	261,549
Other	95,695	2,965,321
Sub-total	7,475,773	4,432,403
Deferred Tax Liabilities:
Net unrealized gain on investment securities	0	(342,669)
Cost recovery of leased and fixed assets	(2,508,547)	(1,845,105)
Other	(19,023)	0
Sub-total	(2,527,570)	(2,187,774)
Total net deferred tax asset	$ 4,948,203	$ 2,244,629

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Contingency [Line Items]
Adjustment which reduced net deferred tax assets		$ 1,300
Federal statutory income tax rate	21.00%	35.00%	35.00%
Net operating loss for federal income tax purposes	$ 21,000
NOL expiring in 2034 if not utilized	328
NOL expiring in 2035 if not utilized	176
NOL expiring in 2036 if not utilized	1,400
NOL expiring in 2037 if not utilized	2,000
Subsidiaries
Income Tax Contingency [Line Items]
Net operating loss for federal income tax purposes	$ 17,100	$ 4,100	$ 3,000
State \| Corridor Public Holdings, Inc. And Corridor Private Holdings, Inc.
Income Tax Contingency [Line Items]
Blended state tax rate	5.53%	3.78%	3.78%
State \| Missouri \| CorEnergy BBWS, Inc
Income Tax Contingency [Line Items]
Blended state tax rate	5.00%
State \| Missouri \| Corridor MoGas
Income Tax Contingency [Line Items]
Blended state tax rate	5.00%	5.00%	5.00%
State \| Missouri \| Mowood Corridor
Income Tax Contingency [Line Items]
Blended state tax rate		5.00%	5.00%

Income Taxes - Income Tax Benefit (Details) - USD ($)	3 Months Ended								12 Months Ended
Income Taxes - Income Tax Benefit (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal statutory income tax rate									21.00%	35.00%	35.00%
Total income tax expense (benefit) differs from the amount computed by applying the federal statutory income tax rates net investment income and net realized and unrealized gains on investments
Application of statutory income tax rate									$ 8,671,562	$ 12,231,838	$ 10,219,573
State income taxes, net of federal tax benefit									(583,186)	352,708	26,215
Income of Real Estate Investment Trust not subject to tax									(10,339,520)	(11,975,853)	(10,663,371)
Tax reform impact									0	1,262,444	0
Other									(167,582)	474,181	(46,837)
Income tax expense (benefit), net	$ (612,384)	$ (746,667)	$ (614,849)	$ (444,826)	$ 2,390,618	$ 191,571	$ 95,735	$ (332,606)	$ (2,418,726)	$ 2,345,318	$ (464,420)

Income Taxes - Components of Income Tax Benefit (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current tax expense (benefit)
Federal									$ (413,248)	$ 2,498,363	$ (321,720)
State (net of federal tax benefit)									(172,138)	333,295	8,613
Total current tax expense (benefit)	$ (530,659)	$ (8,393)	$ (10,785)	$ (35,549)	$ 2,742,636	$ 65,131	$ 57,651	$ (33,760)	(585,386)	2,831,658	(313,107)
Deferred tax expense (benefit)
Federal									(1,422,292)	(505,753)	(168,915)
State (net of federal tax benefit)									(411,048)	19,413	17,602
Total deferred tax benefit	(81,725)	(738,274)	(604,064)	(409,277)	(352,018)	126,440	38,084	(298,846)	(1,833,340)	(486,340)	(151,313)
Income tax expense (benefit), net	$ (612,384)	$ (746,667)	$ (614,849)	$ (444,826)	$ 2,390,618	$ 191,571	$ 95,735	$ (332,606)	$ (2,418,726)	$ 2,345,318	$ (464,420)

Income Taxes - Aggregate Cost of Securities for Income Tax Purposes (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Aggregate cost of securities for federal income tax purposes and securities with unrealized appreciation and depreciation
Aggregate cost for federal income tax purposes	$ 408,051	$ 3,063,430
Gross unrealized appreciation	0	325,130
Gross unrealized depreciation	0	0
Net unrealized appreciation	$ 0	$ 325,130

Income Taxes - Common and Preferred Stock Distribution (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	$ 3.000	$ 3.000	$ 3.000
Total Distribution per Share
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	3.0000	3.0000	3.0000
Preferred Stock, Dividends declared per share (in dollars per share)	1.8436	1.8436	1.8436
Total Ordinary Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	2.1384	2.3700	1.1820
Preferred Stock, Dividends declared per share (in dollars per share)	1.3140	1.8436	1.8436
Qualified Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.0000	0.3140	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.0000	0.2444	0.0000
Capital Gain Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.8616	0.0000	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.5296	0.0000	0.0000
Unrecaptured Section 1250 Gain
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.4028
Preferred Stock, Dividends declared per share (in dollars per share)	0.2476
Section 199A Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	2.1384
Preferred Stock, Dividends declared per share (in dollars per share)	1.3140
Nondividend Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)		0.6300	1.8180
Preferred Stock, Dividends declared per share (in dollars per share)		0.0000	0.0000
Installment One \| Total Distribution per Share
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.7500	0.7500	0.7500
Preferred Stock, Dividends declared per share (in dollars per share)	0.4609	0.4609	0.4609
Installment One \| Total Ordinary Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346	0.5925	0.2955
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285	0.4609	0.4609
Installment One \| Qualified Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.0000	0.0785	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.0000	0.0611	0.0000
Installment One \| Capital Gain Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.2154	0.0000	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.1324	0.0000	0.0000
Installment One \| Unrecaptured Section 1250 Gain
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.1007
Preferred Stock, Dividends declared per share (in dollars per share)	0.0619
Installment One \| Section 199A Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285
Installment One \| Nondividend Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)		0.1575	0.4545
Preferred Stock, Dividends declared per share (in dollars per share)		0.0000	0.0000
Installment Two \| Total Distribution per Share
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.7500	0.7500	0.7500
Preferred Stock, Dividends declared per share (in dollars per share)	0.4609	0.4609	0.4609
Installment Two \| Total Ordinary Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346	0.5925	0.2955
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285	0.4609	0.4609
Installment Two \| Qualified Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.0000	0.0785	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.0000	0.0611	0.0000
Installment Two \| Capital Gain Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.2154	0.0000	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.1324	0.0000	0.0000
Installment Two \| Unrecaptured Section 1250 Gain
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.1007
Preferred Stock, Dividends declared per share (in dollars per share)	0.0619
Installment Two \| Section 199A Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285
Installment Two \| Nondividend Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)		0.1575	0.4545
Preferred Stock, Dividends declared per share (in dollars per share)		0.0000	0.0000
Installment Three \| Total Distribution per Share
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.7500	0.7500	0.7500
Preferred Stock, Dividends declared per share (in dollars per share)	0.4609	0.4609	0.4609
Installment Three \| Total Ordinary Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346	0.5925	0.2955
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285	0.4609	0.4609
Installment Three \| Qualified Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.0000	0.0785	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.0000	0.0611	0.0000
Installment Three \| Capital Gain Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.2154	0.0000	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.1324	0.0000	0.0000
Installment Three \| Unrecaptured Section 1250 Gain
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.1007
Preferred Stock, Dividends declared per share (in dollars per share)	0.0619
Installment Three \| Section 199A Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285
Installment Three \| Nondividend Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)		0.1575	0.4545
Preferred Stock, Dividends declared per share (in dollars per share)		0.0000	0.0000
Installment Four \| Total Distribution per Share
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.7500	0.7500	0.7500
Preferred Stock, Dividends declared per share (in dollars per share)	0.4609	0.4609	0.4609
Installment Four \| Total Ordinary Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346	0.5925	0.2955
Preferred Stock, Dividends declared per share (in dollars per share)	0.3285	0.4609	0.4609
Installment Four \| Qualified Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.0000	0.0785	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.0000	0.0611	0.0000
Installment Four \| Capital Gain Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.2154	0.0000	0.0000
Preferred Stock, Dividends declared per share (in dollars per share)	0.1324	0.0000	0.0000
Installment Four \| Unrecaptured Section 1250 Gain
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.1007
Preferred Stock, Dividends declared per share (in dollars per share)	0.0619
Installment Four \| Section 199A Dividends
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)	0.5346
Preferred Stock, Dividends declared per share (in dollars per share)	$ 0.3285
Installment Four \| Nondividend Distributions
Dividends Payable [Line Items]
Common Stock, Dividends declared per share (in dollars per share)		0.1575	0.4545
Preferred Stock, Dividends declared per share (in dollars per share)		$ 0.0000	$ 0.0000
Capital Stock
Dividends Payable [Line Items]
Ordinary income dividend percentage	71.30%
Return of capital percentage	0.00%
Capital gain percentage	28.70%
Qualified dividend income percentage	0.00%
Capital gain, percentage subject to maximum 25 percent tax rate	13.40%
Capital gain, percentage subject to maximum 20 percent tax rate	15.30%
Preferred Stock
Dividends Payable [Line Items]
Ordinary income dividend percentage	71.30%
Return of capital percentage	0.00%
Capital gain percentage	28.70%
Qualified dividend income percentage	0.00%
Capital gain, percentage subject to maximum 25 percent tax rate	13.40%
Capital gain, percentage subject to maximum 20 percent tax rate	15.30%

Property and Equipment (Details) - USD ($)	12 Months Ended
Property and Equipment (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Component of property and equipment
Gross property and equipment	$ 125,850,898	$ 125,802,508
Less: accumulated depreciation	(15,969,346)	(12,643,636)
Net property and equipment	109,881,552	113,158,872
Depreciation Expense	3,400,000	3,400,000	$ 3,400,000
Land
Component of property and equipment
Gross property and equipment	580,000	580,000
Natural gas pipeline
Component of property and equipment
Gross property and equipment	124,306,175	124,303,315
Vehicles and trailers
Component of property and equipment
Gross property and equipment	696,164	650,634
Office equipment and computers
Component of property and equipment
Gross property and equipment	$ 268,559	$ 268,559

Concentrations (Details) - leased_property	12 Months Ended
Concentrations (Details) - leased_property	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Concentration Risk [Line Items]
Number of significant leased properties	2
Revenue from Contract with Customer \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenues	6.00%	11.00%	12.00%

Management Agreement (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Management Agreement [Line Items]
Percentage of directors to reach majority	0.6667%
Number of days prior to written notice to terminate	30 days
Percentage of fees of the last 4 quarters	300.00%
Corridor Infra Trust Management
Management Agreement [Line Items]
Quarterly management fee percentage	0.25%
Annual management fee percentage	1.00%
Quarterly incentive fee percentage in relation to distribution threshold	10.00%
Distribution threshold (in dollars per share)	$ 0.625
General and Administrative Expense \| Corridor Infra Trust Management
Management Agreement [Line Items]
Management Fee	$ 7,600	$ 7,200	$ 7,200
Administrative Fee	$ 280	269	266
New Management Agreement
Management Agreement [Line Items]
Incentive fees waived		100	88
Incentive Fee		$ 595	$ 595
Administrative Agreement
Management Agreement [Line Items]
Annual rate percentage of managed assets	0.04%
Minimum annual fee	$ 30

Fair Value - Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring	Dec. 31, 2017 USD ($)
Assets:
Other equity securities	$ 2,958,315
Total Assets	2,958,315
Level 1
Assets:
Other equity securities	0
Total Assets	0
Level 2
Assets:
Other equity securities	0
Total Assets	0
Level 3
Assets:
Other equity securities	2,958,315
Total Assets	$ 2,958,315

Fair Value - Changes in Level 3 Securities (Details) - Level 3 - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning Balance	$ 2,958,315	$ 9,287,209
Acquisitions	0	1,161,034
Disposals	(449,067)	(8,752,201)
Total Realized and Unrealized Gains (Losses) Included in Net Income	(1,845,309)	1,531,827
Return of Capital Adjustments Impacting Cost Basis of Securities	(663,939)	(269,554)
Fair Value Ending Balance	0	2,958,315
Changes in Unrealized Gains Included In Net Income, Relating to Securities Still Held	0	295,161
Other equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Beginning Balance	2,958,315	9,287,209
Acquisitions	0	1,161,034
Disposals	(449,067)	(8,752,201)
Total Realized and Unrealized Gains (Losses) Included in Net Income	(1,845,309)	1,531,827
Return of Capital Adjustments Impacting Cost Basis of Securities	(663,939)	(269,554)
Fair Value Ending Balance	0	2,958,315
Changes in Unrealized Gains Included In Net Income, Relating to Securities Still Held	$ 0	$ 295,161

Fair Value - Additional Information (Details) $ / shares in Units, $ in Thousands, Bcf / d in Billions		12 Months Ended
	Dec. 21, 2017 USD ($) $ / shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 Bcf / d
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of interest	$ 7,600
Lightfoot Capital Partners LP
Schedule of Equity Method Investments [Line Items]
Equity interest percentage		6.60%	6.60%
Lightfoot GP
Schedule of Equity Method Investments [Line Items]
Equity interest percentage		1.50%	1.50%
Lightfoot Capital Partners LP \| Gulf LNG
Schedule of Equity Method Investments [Line Items]
Receiving and regasification terminal, volume per day (bcf/d) \| Bcf / d			1.5
Arc Terminal Joliet Holdings
Schedule of Equity Method Investments [Line Items]
Required reinvestment	$ 1,200
Gulf LNG \| Zenith
Schedule of Equity Method Investments [Line Items]
Interest acquired	4.16%
Payments to acquire	$ 27,300
Arc Terminal Joliet Holdings \| Lightfoot LP and Lightfoot GP
Schedule of Equity Method Investments [Line Items]
Interest acquired	13.50%
Arc Logistics GP \| Lightfoot GP
Schedule of Equity Method Investments [Line Items]
Equity issued (in dollars per unit) \| $ / shares	$ 14.50
Proceeds from sale of interest	$ 94,500
Percentage of interest sold	100.00%
Gulf LNG \| Lightfoot GP
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of interest	$ 36,200	$ 667
Percentage of interest sold	5.52%
Realized loss on sale of investment		$ 1,100

Fair Value - Joliet (Details) - USD ($)	Dec. 21, 2018	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities, at fair value		$ 0	$ 2,958,315
Zenith Terminal Joliet Holdings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity interest percentage			0.60%
Sale of investment	$ 446,000

Fair Value - Carrying and Fair Value Amounts (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Carrying Amount \| Level 1
Financial Assets:
Cash and cash equivalents	$ 69,287,177	$ 15,787,069
Financial Liabilities:
Unsecured convertible senior notes	112,777,271	112,032,083
Carrying Amount \| Level 2
Financial Liabilities:
Long-term debt	37,261,109	40,745,354
Carrying Amount \| Level 3
Financial Assets:
Financing notes receivable	1,300,000	1,500,000
Fair Value \| Level 1
Financial Assets:
Cash and cash equivalents	69,287,177	15,787,069
Financial Liabilities:
Unsecured convertible senior notes	119,378,982	139,101,660
Fair Value \| Level 2
Financial Liabilities:
Long-term debt	37,261,109	40,745,354
Fair Value \| Level 3
Financial Assets:
Financing notes receivable	$ 1,300,000	$ 1,500,000

Debt - Schedule of Debt (Details) - USD ($)	12 Months Ended
Debt - Schedule of Debt (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Jul. 08, 2015	Jul. 07, 2015	Jun. 29, 2015	Nov. 24, 2014
Debt Instrument [Line Items]
Amount Outstanding	$ 151,430,000	$ 155,000,000
Total	150,038,380	152,777,437
Debt due within one year	3,528,000	3,528,000
7.00% Unsecured Convertible Senior Notes
Debt Instrument [Line Items]
Unamortized discount	1,108,342	1,847,254
Line of Credit
Debt Instrument [Line Items]
Total Commitment or Original Principal			$ 153,000,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Total Commitment or Original Principal			$ 105,000,000	$ 93,000,000
Line of Credit \| Revolving Credit Facility \| CorEnergy Revolver
Debt Instrument [Line Items]
Total Commitment or Original Principal	160,000,000
Quarterly Principal Payments	0
Amount Outstanding	$ 0	$ 0
Interest Rate, effective	5.25%	4.32%
Line of Credit \| Revolving Credit Facility \| MoGas Revolver
Debt Instrument [Line Items]
Total Commitment or Original Principal	$ 1,000,000					$ 3,000,000.0
Quarterly Principal Payments	0
Amount Outstanding	$ 0	$ 0
Interest Rate, effective	5.25%	4.32%
Line of Credit \| Revolving Credit Facility \| Omega Line of Credit
Debt Instrument [Line Items]
Total Commitment or Original Principal	$ 1,500,000
Quarterly Principal Payments	0
Amount Outstanding	$ 0	$ 0
Interest Rate, effective	6.50%	5.57%
Secured Debt
Debt Instrument [Line Items]
Deferred debt financing costs, net	$ 210,891	$ 254,646
Total	37,472,000
Secured Debt \| Amended Pinedale Term Credit Facility
Debt Instrument [Line Items]
Total	37,472,000
Secured Debt \| Term Loan \| Amended Pinedale Term Credit Facility
Debt Instrument [Line Items]
Total Commitment or Original Principal	41,000,000
Quarterly Principal Payments	882,000
Amount Outstanding	$ 37,472,000	$ 41,000,000
Interest Rate, fixed	6.50%	6.50%
Convertible Debt
Debt Instrument [Line Items]
Deferred debt financing costs, net	$ 241,000
Unamortized discount	3,700,000
Convertible Debt \| 7.00% Unsecured Convertible Senior Notes
Debt Instrument [Line Items]
Total Commitment or Original Principal	115,000,000				$ 115,000,000.0
Quarterly Principal Payments	0
Amount Outstanding	$ 113,958,000	$ 114,000,000
Interest Rate, fixed	7.00%	7.00%			7.00%
Convertible Debt and Line of Credit
Debt Instrument [Line Items]
Deferred debt financing costs, net	$ 283,278	$ 375,309

Debt - CorEnergy Credit Facilities (Details) - USD ($)			12 Months Ended
Debt - CorEnergy Credit Facilities (Details) - USD ($)	Jul. 28, 2017	Jul. 08, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 07, 2015	Nov. 24, 2014
Line of Credit Facility [Line Items]
Borrowed against the revolver			$ 0	$ 10,000,000	$ 44,000,000
Long-term debt outstanding			150,038,380	152,777,437
Parent Company
Line of Credit Facility [Line Items]
Borrowed against the revolver			0	$ 10,000,000	$ 44,000,000
Line of Credit
Line of Credit Facility [Line Items]
Face amount		$ 153,000,000
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Face amount		105,000,000				$ 93,000,000
Monthly principal periodic payment		900,000	1,600,000
Line of Credit \| Amended and Restated CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Face amount	$ 161,000,000
Borrowed against the revolver	$ 10,000,000
Debt instrument term	5 years
Remaining borrowing capacity			122,700,000
Line of Credit \| Subsidiaries \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Face amount		3,000,000
Line of Credit \| Parent Company \| Term Loan
Line of Credit Facility [Line Items]
Face amount		$ 45,000,000
Line of Credit \| Minimum \| LIBOR \| Amended and Restated CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Line of Credit \| Maximum \| LIBOR \| Amended and Restated CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
CorEnergy Revolver \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Face amount			160,000,000
Extinguishment of debt			44,000,000
CorEnergy Revolver \| Line of Credit \| Amended and Restated CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Face amount	$ 160,000,000
MoGas Revolver \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Face amount			1,000,000				$ 3,000,000.0
MoGas Revolver \| Line of Credit \| Amended and Restated CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Face amount	1,000,000
Remaining borrowing capacity	1,000,000
Long-term debt outstanding			$ 0
CorEnergy Term Loan \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Extinguishment of debt	$ 33,500,000

Debt - Mowood/Omega Revolver/Pinedale Credit Facility (Details) - USD ($)							3 Months Ended	12 Months Ended
	Dec. 29, 2017	Mar. 30, 2016	Jul. 31, 2015	Jul. 08, 2015	Mar. 07, 2014	Dec. 20, 2012	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 07, 2015
Debt Instrument [Line Items]
Long-term debt outstanding								$ 150,038,380	$ 152,777,437
Secured credit facilities, net								37,261,109	40,745,354
Cash sweep provision distribution									4,400,000	$ 9,100,000
Total assets								624,883,180	$ 633,418,113
Line of Credit
Debt Instrument [Line Items]
Face amount				$ 153,000,000
Secured Debt
Debt Instrument [Line Items]
Long-term debt outstanding								37,472,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Monthly principal periodic payment				900,000				1,600,000
Face amount				$ 105,000,000							$ 93,000,000
Revolving Credit Facility \| Line of Credit \| Mowood/Omega Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,500,000.0
Basis spread on variable rate			4.00%
Long-term debt outstanding								0
Pinedale LP \| Secured Term Credit Facility \| Secured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 70,000,000
Basis spread on variable rate		1.00%
Monthly principal periodic payment					$ 294,000
Required principle payment as percentage of outstanding amount, beginning in year two					0.42%
Extension option, term						1 year
Periodic payment through extension period							$ 3,200,000
Secured credit facilities, net		$ 58,500,000
Pinedale LP \| Secured Term Credit Facility \| Secured Debt \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate						3.25%	4.25%
Pinedale LP \| Secured Term Credit Facility \| Secured Debt \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		7.00%
Pinedale LP \| Amended Pinedale Term Credit Facility
Debt Instrument [Line Items]
Monthly principal periodic payment	$ 294,000
Debt instrument term	5 years
Face amount	$ 41,000,000.0
Coupon rate percentage	6.50%
Pinedale LGS
Debt Instrument [Line Items]
Total assets								$ 137,000,000
Pinedale LGS \| General Partner \| Pinedale GP
Debt Instrument [Line Items]
Controlling economic interest							81.05%
Value of economic interest		$ 47,400,000

Debt - Amortization of Deferred Financing Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Line of Credit \| CorEnergy Credit Facility
Debt Instrument [Line Items]
Deferred debt issuance amortization		$ 1,600,000
Interest Expense \| Line of Credit
Debt Instrument [Line Items]
Deferred debt issuance amortization	$ 627,269	873,993	$ 1,234,856
Interest Expense \| Line of Credit \| CorEnergy Credit Facility
Debt Instrument [Line Items]
Deferred debt issuance amortization	574,541	873,601	1,078,526
Interest Expense \| Secured Debt \| Amended Pinedale Term Credit Facility
Debt Instrument [Line Items]
Deferred debt issuance amortization	$ 52,728	$ 392	$ 156,330

Debt - CorEnergy Credit Facilities/Amended Pinedale Term Credit Facility (Details) - USD ($)			3 Months Ended				12 Months Ended
	Dec. 29, 2017	Jul. 28, 2017	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Loss on extinguishment of debt			$ 102,500	$ 234,433	$ 0	$ 0	$ 0	$ 336,933	$ 0
Amended Pinedale Term Credit Facility
Line of Credit Facility [Line Items]
Loss on extinguishment of debt								103,000
Amended Pinedale Term Credit Facility \| Pinedale LP
Line of Credit Facility [Line Items]
Deferred debt financing costs, net	$ 367,000
Deferred debt issuance amortization	$ 264,000
Debt instrument term	5 years
Line of Credit \| CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Deferred debt financing costs, net		$ 1,800,000	$ 1,300,000					1,300,000
Deferred debt issuance amortization								1,600,000
Line of Credit \| Amended and Restated CorEnergy Credit Facility
Line of Credit Facility [Line Items]
Deferred debt issuance amortization								2,900,000
Debt instrument term		5 years
Loss on extinguishment of debt								$ 234,000

Debt - Long Term Debt Maturities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total	$ 150,038,380	$ 152,777,437
Secured Debt
Debt Instrument [Line Items]
2019	3,528,000
2020	3,528,000
2021	3,528,000
2022	26,888,000
2023	0
Thereafter	0
Total	$ 37,472,000

Debt - Convertible Debt Information (Details) - USD ($)			3 Months Ended				12 Months Ended
Debt - Convertible Debt Information (Details) - USD ($)	May 23, 2016	Jun. 29, 2015	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Shares issued (in shares)							1,271
Principal amount							$ 42,000
Repurchases of convertible debt	$ 1,000,000						0	$ 0	$ 899,960
Gain on extinguishment of debt			$ (102,500)	$ (234,433)	$ 0	$ 0	0	(336,933)	$ 0
Convertible Senior Notes Due 2020
Debt Instrument [Line Items]
Amount of underwriter's discount			$ 1,847,254				1,108,342	1,847,254
Convertible Debt
Debt Instrument [Line Items]
Gain on extinguishment of debt								$ 72,000
Amount of underwriter's discount							3,700,000
Deferred debt financing costs, net							$ 241,000
Effective percentage							7.70%	7.70%	7.70%
Convertible Debt \| Convertible Senior Notes Due 2020
Debt Instrument [Line Items]
Face amount		$ 115,000,000.0					$ 115,000,000
Interest Rate		7.00%	7.00%				7.00%	7.00%
Shares issued (in shares)		30.3030
Principal amount		$ 1,000
Conversion price (in dollars per share)		$ 33.00
Percentage of principal amount redeemed		100.00%
Convertible debt outstanding							$ 114,000,000

Debt - Convertible Debt (Details) - Convertible Debt - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 29, 2015
Debt Instrument [Line Items]
Interest expense	$ 8,766,306	$ 8,767,188	$ 8,800,842
Discount amortization	738,912	738,912	744,081
Deferred debt issuance amortization	48,276	48,276	48,566
Convertible Senior Notes Due 2020
Debt Instrument [Line Items]
Interest expense	$ 7,979,118	$ 7,980,000	$ 8,008,195
Interest Rate	7.00%	7.00%		7.00%

Asset Retirement Obligation (Details) - USD ($)	3 Months Ended	12 Months Ended
Asset Retirement Obligation (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Decommissioning costs incurred	$ 939,000	$ 939,000
Estimated segment ARO liability	628,000	628,000
Loss on settlement of asset retirement obligation	311,000	310,941	$ 0	$ 0
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning asset retirement obligation		9,170,493	11,882,943
Liabilities assumed		0	0
ARO accretion expense		499,562	663,065
Liabilities settled		(628,300)	0
Revision in cash flow estimates		(1,085,412)	(3,375,515)
Ending asset retirement obligation	$ 7,956,343	$ 7,956,343	$ 9,170,493	$ 11,882,943

Interest Rate Hedge Swaps - Additional Information (Details)	Mar. 31, 2016 USD ($) Instrument	Feb. 28, 2013 USD ($) Instrument
Interest Rate Swap
Derivative [Line Items]
Number of derivative agreements \| Instrument		2
Notional amount	$ 26,300,000	$ 52,500,000
Fixed interest rate		0.865%
Number of instruments terminated \| Instrument	1
Notional amount terminated	$ 26,300,000
Secured Debt
Derivative [Line Items]
Maximum borrowing capacity		$ 70,000,000

Interest Rate Hedge Swaps - Derivative Financial Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Derivatives in Cash Flow Hedging Relationship
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain on Derivatives Recognized in AOCI (Effective Portion)	$ 0	$ (300,181)
Amount of Loss on Derivatives Reclassified from AOCI (Effective Portion) Recognized in Net Income	0	(50,964)
Derivatives Not Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (Loss) Gain on Derivatives Recognized in AOCI (Effective Portion)	$ 25,842	$ 73,204

Stockholder's Equity - Preferred Stock (Details) - USD ($)				12 Months Ended
	May 10, 2017	Apr. 18, 2017	Jan. 27, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 06, 2018
Class of Stock [Line Items]
Preferred stock, authorized (in shares)				10,000,000
Preferred stock, par value (in dollars per share)				$ 0.001
Repurchases of preferred stock				$ 4,275,553	$ 0	$ 0
Preferred stock, outstanding (in shares)				50,222.27
Series A Cumulative Redeemable Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)				10,000,000	10,000,000
Preferred stock, par value (in dollars per share)				$ 0.001	$ 0.001
Preferred stock interest rate				7.375%	7.375%
Preferred stock, issued (in shares)			22,500	50,222	52,000
Net offering proceeds			$ (54,200,000)
Preferred Stock, Liquidation Preference (in dollars per share)				$ 2,500	$ 2,500
Preferred stock, outstanding (in shares)				50,222	52,000
Depositary Shares
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)				$ 50.222
Percent equivalent of preferred shares				1.00%
Dividends (in dollars per share)				$ 1.84375
Preferred Stock, Liquidation Preference (in dollars per share)				$ 25.00
Authorized amount of shares to be repurchased							$ 10,000,000
Repurchase of stock (in shares)				177,773
Repurchases of preferred stock				$ 4,300,000
Preferred stock, outstanding (in shares)				5,022,227
Preferred Stock \| Series A Cumulative Redeemable Preferred Stock
Class of Stock [Line Items]
Preferred stock interest rate			7.375%	7.375%
Underwritten Public Offering \| Depositary Shares
Class of Stock [Line Items]
Shares sold in offering (in shares)	150,000	2,800,000	2,250,000
Sale of stock (in dollars per share)	$ 25.00	$ 25.00
Proceeds from sale of stock				$ 71,200,000
Shares outstanding				5,200,000
Underwritten Public Offering \| Preferred Stock
Class of Stock [Line Items]
Shares outstanding				52,000
Line of Credit \| Revolving Credit Facility \| CorEnergy Revolver
Class of Stock [Line Items]
Extinguishment of debt				$ 44,000,000

Stockholder's Equity - Common Stock (Details) - USD ($)	12 Months Ended
Stockholder's Equity - Common Stock (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Repurchases of common stock	$ 0	$ 0	$ 2,041,851
Capital stock non-convertible, shares issued (in shares)	11,960,225	11,915,830
Capital Stock
Class of Stock [Line Items]
Authorized amount of shares to be repurchased				$ 10,000,000
Repurchase of common stock (in shares)			90,613
Repurchases of common stock			$ 2,000,000

Stockholder's Equity - Shelf Registration (Details) - USD ($)	Dec. 31, 2018	Oct. 30, 2018	Nov. 09, 2018
Class of Stock [Line Items]
Aggregate offering price of shelf registration			$ 600,000,000
Current availability	$ 600,000,000
Dividend Reinvestment Plan
Class of Stock [Line Items]
Reinvestment of distributions to stockholders (in shares)	10,927	1,000,000
Remaining availability (in shares)	989,073

Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
Earnings Per Share (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 29, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income attributable to CorEnergy stockholders	$ 20,495,995	$ 7,697,324	$ 7,810,849	$ 7,707,708	$ 6,755,855	$ 9,177,284	$ 9,000,172	$ 7,669,478	$ 43,711,876	$ 32,602,790	$ 29,663,200
Less: preferred dividend requirements	2,357,752	2,396,875	2,396,875	2,396,875	2,396,875	2,396,875	2,123,129	1,037,109	9,548,377	7,953,988	4,148,437
Net Income attributable to Common Stockholders	$ 18,138,243	$ 5,300,449	$ 5,413,974	$ 5,310,833	$ 4,358,980	$ 6,780,409	$ 6,877,043	$ 6,632,369	$ 34,163,499	$ 24,648,802	$ 25,514,763
Weighted average shares - basic (in shares)									11,935,021	11,900,516	11,901,985
Basic earnings per share (in dollars per share)	$ 1.52	$ 0.44	$ 0.45	$ 0.45	$ 0.37	$ 0.57	$ 0.58	$ 0.56	$ 2.86	$ 2.07	$ 2.14
Net income attributable to common stockholders (from above)	$ 18,138,243	$ 5,300,449	$ 5,413,974	$ 5,310,833	$ 4,358,980	$ 6,780,409	$ 6,877,043	$ 6,632,369	$ 34,163,499	$ 24,648,802	$ 25,514,763
Add: After tax effect of convertible interest									8,766,306	0	0
Income attributable for dilutive securities									$ 42,929,805	$ 24,648,802	$ 25,514,763
Weighted average shares - diluted (in shares)									15,389,180	11,900,516	11,901,985
Diluted earnings per share (in dollars per share)	$ 1.32	$ 0.44	$ 0.45	$ 0.45	$ 0.37	$ 0.57	$ 0.58	$ 0.56	$ 2.79	$ 2.07	$ 2.14
Decrease in preferred dividends									$ 10,554
Convertible Debt \| Convertible Senior Notes Due 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Coupon rate percentage	7.00%				7.00%				7.00%	7.00%		7.00%
Shares issued upon conversion (in shares)	3,453,273				3,454,545				3,453,273	3,454,545	3,454,545

Quarterly Financial Data (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue
Lease revenue	$ 18,487,661	$ 18,391,983	$ 18,275,859	$ 17,591,859	$ 17,513,510	$ 17,173,676	$ 17,050,092	$ 17,066,526	$ 72,747,362	$ 68,803,804	$ 67,994,130
Revenue									16,484,236
Total Revenue	22,900,039	22,636,705	22,150,016	21,544,838	22,402,085	22,444,304	21,825,872	22,077,116	89,231,598	88,749,377	89,250,586
Expenses
Transportation and distribution expenses	1,861,329	2,241,999	1,534,524	1,572,896	1,646,975	2,384,182	1,362,980	1,335,570	7,210,748	6,729,707	6,463,348
General and administrative	4,161,533	3,046,481	3,107,776	2,727,057	2,534,372	2,632,546	2,558,339	3,061,240	13,042,847	10,786,497	12,270,380
Depreciation, amortization and ARO accretion expense	6,078,582	6,289,459	6,290,082	6,289,330	6,018,143	6,017,664	6,005,995	6,005,908	24,947,453	24,047,710	22,522,871
Provision for loan (gain) loss	(536,867)	0	0	500,000					(36,867)	0	5,014,466
Total Expenses	11,564,577	11,577,939	10,932,382	11,089,283	10,199,490	11,034,392	9,927,314	10,402,718	45,164,181	41,563,914	46,271,065
Operating Income	11,335,462	11,058,766	11,217,634	10,455,555	12,202,595	11,409,912	11,898,558	11,674,398	44,067,417	47,185,463	42,979,521
Other Income (Expense)
Net distributions and dividend income	41,503	5,627	55,714	3,951	202,149	213,040	221,440	43,462	106,795	680,091	1,140,824
Net realized and unrealized gain (loss) on other equity securities	(48,028)	(930,147)	(881,100)	13,966	121,204	1,340,197	614,634	(544,208)	(1,845,309)	1,531,827	824,482
Interest expense	(3,168,583)	(3,183,589)	(3,196,248)	(3,210,590)	(2,793,245)	(2,928,036)	(3,202,837)	(3,454,397)	(12,759,010)	(12,378,514)	(14,417,839)
Gain on the sale of leased property, net	11,723,257	0	0	0					11,723,257	0	0
Loss on extinguishment of debt					(102,500)	(234,433)	0	0	0	(336,933)	0
Total Other Expense	8,548,149	(4,108,109)	(4,021,634)	(3,192,673)	(2,572,392)	(1,609,232)	(2,366,763)	(3,955,143)	(2,774,267)	(10,503,529)	(12,452,533)
Income before income taxes	19,883,611	6,950,657	7,196,000	7,262,882	9,630,203	9,800,680	9,531,795	7,719,255	41,293,150	36,681,934	30,526,988
Taxes
Current tax expense (benefit)	(530,659)	(8,393)	(10,785)	(35,549)	2,742,636	65,131	57,651	(33,760)	(585,386)	2,831,658	(313,107)
Deferred tax expense (benefit)	(81,725)	(738,274)	(604,064)	(409,277)	(352,018)	126,440	38,084	(298,846)	(1,833,340)	(486,340)	(151,313)
Income tax expense (benefit), net	(612,384)	(746,667)	(614,849)	(444,826)	2,390,618	191,571	95,735	(332,606)	(2,418,726)	2,345,318	(464,420)
Net Income					7,239,585	9,609,109	9,436,060	8,051,861	43,711,876	34,336,616	30,991,408
Less: Net Income attributable to non-controlling interest					483,730	431,825	435,888	382,383	0	1,733,826	1,328,208
Net Income attributable to CorEnergy Stockholders	20,495,995	7,697,324	7,810,849	7,707,708	6,755,855	9,177,284	9,000,172	7,669,478	43,711,876	32,602,790	29,663,200
Preferred dividend requirements	2,357,752	2,396,875	2,396,875	2,396,875	2,396,875	2,396,875	2,123,129	1,037,109	9,548,377	7,953,988	4,148,437
Net Income attributable to Common Stockholders	$ 18,138,243	$ 5,300,449	$ 5,413,974	$ 5,310,833	$ 4,358,980	$ 6,780,409	$ 6,877,043	$ 6,632,369	$ 34,163,499	$ 24,648,802	$ 25,514,763
Earnings Per Common Share:
Basic (in dollars per share)	$ 1.52	$ 0.44	$ 0.45	$ 0.45	$ 0.37	$ 0.57	$ 0.58	$ 0.56	$ 2.86	$ 2.07	$ 2.14
Diluted (in dollars per share)	$ 1.32	$ 0.44	$ 0.45	$ 0.45	$ 0.37	$ 0.57	$ 0.58	$ 0.56	$ 2.79	$ 2.07	$ 2.14
Transportation and distribution revenue
Revenue
Revenue	$ 4,412,378	$ 4,244,722	$ 3,874,157	$ 3,952,979	$ 4,888,575	$ 5,270,628	$ 4,775,780	$ 5,010,590	$ 16,484,236	$ 19,945,573	$ 21,094,112

Subsequent Events (Details) - USD ($)						3 Months Ended					12 Months Ended
Subsequent Events (Details) - USD ($)	Jan. 23, 2019	Jan. 16, 2019	Jan. 09, 2019	May 23, 2016	Jan. 27, 2015	Mar. 31, 2019	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Repurchases of preferred stock											$ 4,275,553	$ 0	$ 0
Preferred stock, outstanding (in shares)											50,222.27
Face amount											$ 42,000
Shares issued (in shares)											1,271
Common stock, par value (in dollars per share)							$ 0.001				$ 0.001	$ 0.001
Repurchases of convertible debt				$ 1,000,000							$ 0	$ 0	899,960
Loss on extinguishment of debt							$ 102,500	$ 234,433	$ 0	$ 0	$ 0	$ 336,933	$ 0
Dividends declared per share (in dollars per share)											$ 3.000	$ 3.000	$ 3.000
Subsequent event
Subsequent Event [Line Items]
Face amount		$ 43,800,000
Shares issued (in shares)		837,040
Repurchases of convertible debt		$ 19,800,000
Convertible debt outstanding		$ 70,200,000
Capital Stock
Subsequent Event [Line Items]
Repurchase of stock (in shares)													90,613
Capital Stock \| Subsequent event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.750
Depositary Shares
Subsequent Event [Line Items]
Repurchase of stock (in shares)											177,773
Repurchases of preferred stock											$ 4,300,000
Preferred stock, outstanding (in shares)											5,022,227
Series A Cumulative Redeemable Preferred Stock
Subsequent Event [Line Items]
Preferred stock, outstanding (in shares)							52,000				50,222	52,000
Coupon rate percentage											7.375%	7.375%
Series A Cumulative Redeemable Preferred Stock \| Depositary Shares \| Subsequent event
Subsequent Event [Line Items]
Repurchase of stock (in shares)			2,500
Repurchases of preferred stock			$ 61,000
Preferred stock, outstanding (in shares)			5,019,727
Depositary stock, dividends declared per share (in dollars per share)	$ 0.4609375
Series A Cumulative Redeemable Preferred Stock \| Preferred Stock
Subsequent Event [Line Items]
Coupon rate percentage					7.375%						7.375%
Series A Cumulative Redeemable Preferred Stock \| Preferred Stock \| Subsequent event
Subsequent Event [Line Items]
Preferred stock, outstanding (in shares)			50,197.27
Forecast
Subsequent Event [Line Items]
Loss on extinguishment of debt						$ 5,000,000

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Balance Sheet (Details) - USD ($)	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Leased property, net of accumulated depreciation of $1,112,218 and $927,838	$ 398,214,355		$ 465,956,467
Cash and cash equivalents	69,287,177		15,787,069	$ 7,895,084	$ 14,618,740
Deferred costs, net of accumulated amortization of $712,182 and $226,342	2,838,443		3,504,916
Prepaid expenses and other assets	668,584		742,154
Total Assets	624,883,180		633,418,113
Liabilities and Equity
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,180,729 and $1,967,917	112,777,271		112,032,083
Accounts payable and other accrued liabilities	3,493,490		2,333,782
Management fees payable	1,831,613		1,748,426
Total Liabilities	169,871,875		171,632,481
Equity
Series A Cumulative Redeemable Preferred Stock 7.375%, $125,555,675 and $130,000,000 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 50,222 and 52,000 issued and outstanding at December 31, 2018 and December 31, 2017, respectively	125,555,675		130,000,000
Capital stock, non-convertible, $0.001 par value; 11,960,225 and $11,915,830 shares issued and outstanding at December 31, 2018 and December 31, 2017 (100,000,000 shares authorized)	11,960		11,916
Additional paid-in capital	320,295,969	$ 329,324,471	331,773,716
Retained earnings	9,147,701		0
Total Liabilities and Equity	624,883,180		633,418,113
Parent Company
Assets
Leased property, net of accumulated depreciation of $1,112,218 and $927,838	3,681,438		3,865,818
Investments	415,674,601		479,840,250
Cash and cash equivalents	64,574,701		6,662,474	$ 5,933,481	$ 10,089,436
Due from subsidiary	10,549,719		7,302,678
Note receivable from subsidiary	81,000,000		83,250,000
Deferred costs, net of accumulated amortization of $712,182 and $226,342	1,769,585		2,255,425
Prepaid expenses and other assets	265,024		197,211
Total Assets	577,515,068		583,373,856
Liabilities and Equity
Unsecured convertible senior notes, net of discount and debt issuance costs of $1,180,729 and $1,967,917	112,777,271		112,032,083
Accounts payable and other accrued liabilities	1,075,045		987,881
Management fees payable	1,831,613		1,748,426
Due to affiliate	153,640		153,640
Total Liabilities	115,837,569		114,922,030
Equity
Series A Cumulative Redeemable Preferred Stock 7.375%, $125,555,675 and $130,000,000 liquidation preference ($2,500 per share, $0.001 par value), 10,000,000 authorized; 50,222 and 52,000 issued and outstanding at December 31, 2018 and December 31, 2017, respectively	125,555,675		130,000,000
Capital stock, non-convertible, $0.001 par value; 11,960,225 and $11,915,830 shares issued and outstanding at December 31, 2018 and December 31, 2017 (100,000,000 shares authorized)	11,960		11,916
Additional paid-in capital	326,962,163		338,439,910
Retained earnings	9,147,701		0
Total Equity	461,677,499		468,451,826
Total Liabilities and Equity	$ 577,515,068		$ 583,373,856

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Balance Sheet Parenthetical (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jan. 27, 2015
Condensed Balance Sheet Statements, Captions [Line Items]
Accumulated depreciation, leased property	$ 87,154,095	$ 72,155,753
Accumulated amortization, Deferred costs	$ 1,290,236	$ 623,764
Preferred stock, par value (in dollars per share)	$ 0.001
Preferred Stock, Shares Authorized	10,000,000
Preferred stock, outstanding (in shares)	50,222.27
Capital stock non-convertible, par value (in dollars per share)	$ 0.001	$ 0.001
Capital stock non-convertible, shares issued (in shares)	11,960,225	11,915,830
Capital stock non-convertible, shares outstanding	11,960,225	11,915,830
Capital stock non-convertible, shares authorized	100,000,000	100,000,000
Convertible Debt
Condensed Balance Sheet Statements, Captions [Line Items]
Net of discount and debt issuance costs	$ 1,180,729	$ 1,967,917
Series A Cumulative Redeemable Preferred Stock
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock interest rate	7.375%	7.375%
Preferred Stock, Liquidation Preference	$ 125,555,675	$ 130,000,000
Preferred Stock, Liquidation Preference (in dollars per share)	$ 2,500	$ 2,500
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	50,222	52,000	22,500
Preferred stock, outstanding (in shares)	50,222	52,000
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Accumulated depreciation, leased property	$ 1,112,218	$ 927,838
Accumulated amortization, Deferred costs	$ 712,182	$ 226,342
Capital stock non-convertible, par value (in dollars per share)	$ 0.001	$ 0.001
Capital stock non-convertible, shares issued (in shares)	11,960,225	11,915,830
Capital stock non-convertible, shares outstanding	11,960,225	11,915,830
Capital stock non-convertible, shares authorized	100,000,000	100,000,000
Parent Company \| Convertible Debt
Condensed Balance Sheet Statements, Captions [Line Items]
Net of discount and debt issuance costs	$ 1,180,729	$ 1,967,917
Parent Company \| Series A Cumulative Redeemable Preferred Stock
Condensed Balance Sheet Statements, Captions [Line Items]
Preferred stock interest rate	7.375%
Preferred Stock, Liquidation Preference	$ 125,555,675	$ 130,000,000
Preferred Stock, Liquidation Preference (in dollars per share)	$ 2,500	$ 2,500
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	50,222	52,000
Preferred stock, outstanding (in shares)	50,222	52,000

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Income and Comprehensive Income (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue
Total Revenue	$ 22,900,039	$ 22,636,705	$ 22,150,016	$ 21,544,838	$ 22,402,085	$ 22,444,304	$ 21,825,872	$ 22,077,116	$ 89,231,598	$ 88,749,377	$ 89,250,586
Expenses
General and administrative	4,161,533	3,046,481	3,107,776	2,727,057	2,534,372	2,632,546	2,558,339	3,061,240	13,042,847	10,786,497	12,270,380
Depreciation expense									3,400,000	3,400,000	3,400,000
Total Expenses	11,564,577	11,577,939	10,932,382	11,089,283	10,199,490	11,034,392	9,927,314	10,402,718	45,164,181	41,563,914	46,271,065
Operating Income	11,335,462	11,058,766	11,217,634	10,455,555	12,202,595	11,409,912	11,898,558	11,674,398	44,067,417	47,185,463	42,979,521
Other Income (Expense)
Net distributions and dividend income	41,503	5,627	55,714	3,951	202,149	213,040	221,440	43,462	106,795	680,091	1,140,824
Loss on extinguishment of debt					(102,500)	(234,433)	0	0	0	(336,933)	0
Total Other Expense	8,548,149	(4,108,109)	(4,021,634)	(3,192,673)	(2,572,392)	(1,609,232)	(2,366,763)	(3,955,143)	(2,774,267)	(10,503,529)	(12,452,533)
Net Income attributable to CorEnergy Stockholders	$ 20,495,995	$ 7,697,324	$ 7,810,849	$ 7,707,708	$ 6,755,855	$ 9,177,284	$ 9,000,172	$ 7,669,478	43,711,876	32,602,790	29,663,200
Changes in fair value of qualifying hedges									0	11,196	(201,993)
Net Change in Other Comprehensive Income (Loss)									0	13,813	(249,219)
Parent Company
Revenue
Earnings from subsidiary									48,353,177	36,222,221	32,856,338
Total Revenue									48,353,177	36,222,221	32,856,338
Expenses
General and administrative									2,353,593	2,298,201	2,236,358
Depreciation expense									184,380	184,380	184,380
Amortization expense									5,316	5,316	5,316
Total Expenses									2,543,289	2,487,897	2,426,054
Operating Income									45,809,888	33,734,324	30,430,284
Other Income (Expense)
Net distributions and dividend income									56,827	96,866	12,963
Interest on loans to subsidiaries									7,903,104	11,549,344	11,705,465
Interest expense, net									(10,057,943)	(11,451,944)	(12,485,510)
Loss on extinguishment of debt									0	(225,801)	0
Total Other Expense									(2,098,012)	(31,535)	(767,082)
Net Income attributable to CorEnergy Stockholders									43,711,876	33,702,789	29,663,202
Changes in fair value of qualifying hedges									0	11,196	(201,993)
Net Change in Other Comprehensive Income (Loss)									$ 43,711,876	$ 33,713,985	$ 29,461,209

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Cash Flows (Details) - USD ($)			12 Months Ended
	Dec. 12, 2018	May 23, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			$ 48,622,740	$ 56,791,571	$ 51,108,652
Investing Activities
Issuance of note to subsidiary			0	0	(202,000)
Principal payments received from notes to subsidiaries	$ 237,000		236,867	0	0
Net cash provided by investing activities			56,816,490	7,595,477	479,090
Financing Activities
Debt financing costs			(264,010)	(1,462,741)	(193,000)
Net offering proceeds on Series A preferred stock			0	71,161,531	0
Repurchases of common stock			0	0	(2,041,851)
Repurchases of convertible debt		$ (1,000,000)	0	0	(899,960)
Repurchases of Series A preferred stock			(4,275,553)	0	0
Dividends paid on Series A preferred stock			(9,587,500)	(8,227,734)	(4,148,437)
Dividends paid on common stock			(34,284,059)	(34,731,892)	(34,896,727)
Advances on revolving line of credit			0	10,000,000	44,000,000
Payments on revolving line of credit			0	(54,000,000)	0
Principal payments on term debt			(3,528,000)	(45,600,577)	(60,131,423)
Net cash used in financing activities			(51,939,122)	(56,495,063)	(58,311,398)
Net Change in Cash and Cash Equivalents			53,500,108	7,891,985	(6,723,656)
Cash and Cash Equivalents at beginning of period			15,787,069	7,895,084	14,618,740
Cash and Cash Equivalents at end of period			69,287,177	15,787,069	7,895,084
Supplemental Disclosure of Cash Flow Information
Interest Paid			11,200,835	10,780,150	12,900,901
Non-Cash Investing Activities
Conversion of note receivable from subsidiary to investments			42,000
Non-Cash Financing Activities
Common stock issued upon conversion of convertible notes			42,654	0	0
Reinvestment of distributions by common stockholders in additional common shares			1,509,830	962,308	815,889
Parent Company
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			(6,257,124)	1,661,123	(3,141,286)
Investing Activities
Issuance of note to subsidiary			0	0	(47,414,250)
Principal payments received from notes to subsidiaries			2,250,000	40,092,095	11,899,659
Investment in consolidated subsidiaries			(73,996)	(33,900,000)	0
Cash distributions from consolidated subsidiaries			110,140,459	46,774,111	39,139,897
Net cash provided by investing activities			112,316,463	52,966,206	3,625,306
Financing Activities
Debt financing costs			0	(1,360,241)	(193,000)
Net offering proceeds on Series A preferred stock			0	71,161,531	0
Repurchases of common stock			0	0	(2,041,851)
Repurchases of convertible debt			0	0	(899,960)
Repurchases of Series A preferred stock			(4,275,553)	0	0
Dividends paid on Series A preferred stock			(9,587,500)	(8,227,734)	(4,148,437)
Dividends paid on common stock			(34,284,059)	(34,731,892)	(34,896,727)
Advances on revolving line of credit			0	10,000,000	44,000,000
Payments on revolving line of credit			0	(54,000,000)	0
Principal payments on term debt			0	(36,740,000)	(6,460,000)
Net cash used in financing activities			(48,147,112)	(53,898,336)	(4,639,975)
Net Change in Cash and Cash Equivalents			57,912,227	728,993	(4,155,955)
Cash and Cash Equivalents at beginning of period			6,662,474	5,933,481	10,089,436
Cash and Cash Equivalents at end of period			64,574,701	6,662,474	5,933,481
Supplemental Disclosure of Cash Flow Information
Interest Paid			8,794,086	10,080,764	11,335,654
Non-Cash Investing Activities
Conversion of note receivable from subsidiary to investments			0	4,902,495	0
Dissolution of investment in subsidiary upon liquidation			(73,996)	0	0
Non-Cash Financing Activities
Common stock issued upon conversion of convertible notes			42,654	0	0
Reinvestment of distributions by common stockholders in additional common shares			$ 1,509,830	$ 962,308	$ 815,889

SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Parent Company
Condensed Financial Statements, Captions [Line Items]
Cash dividends paid	$ 110,140,459	$ 46,774,111	$ 39,139,897

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 37,472,000
Initial Cost to Company, Land	106,655,063
Initial Cost to Company, Building & Fixtures	384,778,459
Cost Capitalized Subsequent to Acquisition, Improvements	(6,065,072)
Gross Amount Carried at Close of Period, Land	106,655,063
Gross Amount Carried at Close of Period, Building & Fixtures	378,713,387
Gross Amount Carried at Close of Period, Total	485,368,450	$ 538,112,220	$ 541,478,086	$ 543,095,478
Accumulated Depreciation	87,154,095	$ 72,155,753	$ 52,219,717	$ 33,869,263
Investment in Real Estate, net	398,214,355
Pinedale LGS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	37,472,000
Initial Cost to Company, Land	105,485,063
Initial Cost to Company, Building & Fixtures	125,119,062
Cost Capitalized Subsequent to Acquisition, Improvements	0
Gross Amount Carried at Close of Period, Land	105,485,063
Gross Amount Carried at Close of Period, Building & Fixtures	125,119,062
Gross Amount Carried at Close of Period, Total	230,604,125
Accumulated Depreciation	53,501,538
Investment in Real Estate, net	$ 177,102,587
Life on which depreciation in latest income statement is computed	26 years
United Property Systems
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	210,000
Initial Cost to Company, Building & Fixtures	1,188,000
Cost Capitalized Subsequent to Acquisition, Improvements	78,621
Gross Amount Carried at Close of Period, Land	210,000
Gross Amount Carried at Close of Period, Building & Fixtures	1,266,621
Gross Amount Carried at Close of Period, Total	1,476,621
Accumulated Depreciation	138,096
Investment in Real Estate, net	$ 1,338,525
Life on which depreciation in latest income statement is computed	40 years
Grand Isle Gathering System
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	960,000
Initial Cost to Company, Building & Fixtures	258,471,397
Cost Capitalized Subsequent to Acquisition, Improvements	(6,143,693)
Gross Amount Carried at Close of Period, Land	960,000
Gross Amount Carried at Close of Period, Building & Fixtures	252,327,704
Gross Amount Carried at Close of Period, Total	253,287,704
Accumulated Depreciation	33,514,461
Investment in Real Estate, net	$ 219,773,243
Life on which depreciation in latest income statement is computed	27 years

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018 USD ($) property	Dec. 21, 2018 USD ($)	Dec. 31, 2017 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Long-term debt outstanding	$ 150,038,380		$ 152,777,437
Property investment, accumualated depreciation	87,154,095		$ 72,155,753
Federal income tax basis	4,200,000
Pinedale LGS
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Acquisition costs	2,557,910
Portland Terminal Facility
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Property investment		$ 45,700,000
Property investment, gross		51,700,000
Property investment, accumualated depreciation		$ 6,000,000
Grand Isle Gathering System
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Acquisition costs	$ 1,931,396
Line of Credit \| CorEnergy Credit Facility
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of properties serving as collateral \| property	2
Long-term debt outstanding	$ 0
Secured Debt
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Long-term debt outstanding	37,472,000
Secured Debt \| Amended Pinedale Term Credit Facility
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Long-term debt outstanding	$ 37,472,000

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Reconciliation of Real Estate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investment in real estate:
Balance, beginning of year	$ 538,112,220	$ 541,478,086	$ 543,095,478
Addition: Acquisitions and developments	3,599	9,649	65,371
Deduction: Dispositions and other	(52,747,369)	(3,375,515)	(1,682,763)
Balance, end of year	485,368,450	538,112,220	541,478,086
Accumulated depreciation:
Balance, beginning of year	72,155,753	52,219,717	33,869,263
Addition: Depreciation	20,986,461	19,936,036	18,350,454
Deduction: Dispositions and other	(5,988,119)	0	0
Balance, end of year	$ 87,154,095	$ 72,155,753	$ 52,219,717

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Mortgage Loans On Real Estate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Face Value	$ 1,300,000
Carrying Amount of Mortgage	1,300,000	$ 1,500,000	$ 1,500,000	$ 6,877,021
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0
Billings, Dunn and McKenzie Counties, North Dakota (Morlock Well) \| First Mortgages
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest Rate	8.52%
Monthly Payment Amount	$ 0
Face Value	1,300,000
Carrying Amount of Mortgage	1,300,000
Principal Amount of Loans Subject to Delinquent Principal or Interest	$ 0

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Reconciliation of Mortgage Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Beginning balance	$ 1,500,000	$ 1,500,000	$ 6,877,021
Additions:
New loans	0	0	100,000
Interest receivable	0	0	(95,114)
Total Additions	0	0	4,886
Deductions:
Principal repayments	236,867	0	0
Foreclosures	0	0	1,857,000
Amortization of deferred costs	0	0	(2,025)
Principal, Interest and Deferred Costs Write Down	(36,867)	0	3,526,932
Total deductions	200,000	0	5,381,907
Ending balance	$ 1,300,000	$ 1,500,000	$ 1,500,000

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE - Additional Information (Details) - USD ($)		3 Months Ended				12 Months Ended
	Dec. 12, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Principal payment on financing note receivable	$ 237,000					$ 236,867	$ 0	$ 0
Provision for loan (gain) loss		$ 536,867	$ 0	$ 0	$ (500,000)	36,867	0	(5,014,466)
Not Related Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Provision for loan (gain) loss								(656,000)
Foreclosure and Sale of Black Bison
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Provision for loan (gain) loss								(832,000)
SWD Enterprise REIT Note
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest receivable converted to principal								100,000
Compass REIT Loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Maximum borrowing capacity	$ 1,300,000
SWD Enterprises
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Maximum borrowing capacity							$ 1,500,000
Provision for loan (gain) loss					$ (500,000)	$ 37,000		$ (3,500,000)