Pipe fencing has a limited lifespan, just like everything else that comes into contact with horses!
Metal in contact with the ground, especially where urine, manure, or standing water get involved, will eventually rust out, even if the corrals are heavy galvanized material to start with.
It looks like the fencing in the photo is actually steel uprights with sucker rod or similar cross pieces welded to the uprights, with V mesh wire attached. That is very common livestock fencing in Texas, Oklahoma, etc. Not so common other places. It is tough and the materials sometimes are a deal because they are surplus from the oilfield business.
The concrete round footing in the photo doesn’t look like a bad option, depending on how large the pens are… and how big that chunk of concrete really is.
But if the upright posts are what is rotten, which it looks like may be the issue, then you just need to replace them. Which might mean having to un-weld all the cross rails too, then re-attach them. We found that sucker rod was actually a hassle because it took some special kind of welding for the welds to hold. The sucker rod (solid metal rod, not hollow, that goes down an oil well) was somehow brittle, and the welds would break after awhile if the horses bounced on it.
And be sure to use post caps on all fenceposts so they don’t get rainwater in them and rust from the inside-out! You can also drill a drain hole near the concrete level on fence posts to let water that is already inside out… otherwise it takes its time to eat its way out… which is what rots the post.
For those that may read and have other kinds of pipe fencing, I’ll share my experience with standard pipe corrals, which are common out west and pretty good fencing. These suggestions would also apply to livestock panels that pin together for corrals and round pens.
Some options:
-have a welder replace the bottom rails.
-take the corrals apart and flip the rusted section to the top, if it’s not too nasty for the horses to be around
-elevate the damaged part of the fencing by sliding it higher up the upright posts, if the panels are still sound but just ugly and getting rough.
-elevate still-useable panels on railroad tie or concrete footings
-replace the damaged panels
The last option is the most likely, if the panels are just worn out and damaged. You can probably get some money for them on Craigslist or FB Marketplace because someone with welding skills may want to repair/replace them.