Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment (Tables)

v3.24.0.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment include the following (in thousands):
December 31,
Useful Life 2023 2022
Pressure pumping equipment
3-5 years
 $ 251,111  $ 230,760 
Drilling rigs and related equipment
3-15 years
 97,207  110,724 
Machinery and equipment
7-20 years
 155,921  162,634 
Buildings(a)
15-39 years
 40,869  40,316 
Vehicles, trucks and trailers
5-10 years
 92,257  101,580 
Coil tubing equipment
4-10 years
 6,954  6,908 
Land N/A 12,393  12,393 
Land improvements
15 years or life of lease
 10,066  10,053 
Rail improvements
10-20 years
 13,793  13,793 
Other property and equipment(b)
3-12 years
 15,171  18,296 
695,742  707,457 
Deposits on equipment and equipment in process of assembly(c)
8,670  13,885 
704,412  721,342 
Less: accumulated depreciation(d)
590,507  583,276 
Total property, plant and equipment, net $ 113,905  $ 138,066 
a.Included in Buildings at December 31, 2022 are costs of $7.6 million related to assets under operating leases.
b.Included in Other property and equipment are costs of $3.1 million and $6.0 million at December 31, 2023 and 2022, respectively, related to assets under operating leases.
c.Deposits on equipment and equipment in process of assembly represents deposits placed with vendors for equipment that is in the process of assembly and purchased equipment that is being outfitted for its intended use. The equipment is not yet placed in service.
d.Includes accumulated depreciation of $2.3 million and $8.0 million at December 31, 2023 and 2022, respectively, related to assets under operating leases.
Schedule of Depreciation, Depletion, Accretion and Amortization Expense
A summary of depreciation, depletion, amortization and accretion expense is shown below (in thousands):
Years Ended December 31,
2023 2022 2021
Depreciation expense $ 40,891  $ 60,545  $ 76,093 
Accretion and depletion expense 3,443  2,947  1,381 
Amortization expense 776  779  1,001 
Depreciation, depletion, amortization and accretion $ 45,110  $ 64,271  $ 78,475