Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

WATER AND LAND ASSETS

WATER AND LAND ASSETS

9 Months Ended

May 31, 2021

NOTE 6 – WATER AND LAND ASSETS

The Company’s water rights and current water and wastewater service agreements, including capitalized terms not defined herein, are more fully described in Note 4 – Water and Land Assets in Part II, Item 8 of the 2020 Annual Report.

Investment in Water and Water Systems

The Company’s Investments in water and water systems consist of the following costs and accumulated depreciation and depletion at May 31, 2021 and August 31, 2020:


	May 31, 2021				August 31, 2020
			Accumulated				Accumulated
			Depreciation				Depreciation
	Costs		and Depletion		Costs		and Depletion

	(In thousands)
Rangeview water supply	$	14,586	$	(16)	$	14,570	$	(15)
Sky Ranch water rights and other costs		7,371		(1,042)		7,499		(981)
Fairgrounds water and water system		2,900		(1,305)		2,900		(1,239)
Rangeview water system		17,496		(1,317)		15,948		(789)
Water supply – Other		7,552		(1,353)		7,550		(1,116)
Wild Pointe service rights		1,632		(741)		1,632		(708)
Sky Ranch pipeline		5,727		(745)		5,727		(602)
Lost Creek water supply		3,374		—		3,372		—
Construction in progress		1,021		—		1,339		—
Totals		61,659		(6,519)		60,537		(5,450)
Net investments in water and water systems	$	55,140			$	55,087

Construction in progress primarily consists of additional water facilities at Sky Ranch and the Build-to-Rent houses. The Company anticipates the additional facilities and houses will be placed in service during calendar 2021.