Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, net

v3.25.1
Property, Plant and Equipment, net
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, net Property, Plant and Equipment, net     
Property, plant and equipment, net includes the following (in thousands):
March 31, December 31,
Useful Life 2025 2024
Pressure pumping equipment
3-5 years
 $ 261,022  $ 261,881 
Drilling rigs and directional drilling equipment
3-15 years
 14,283  97,021 
Machinery and equipment
7-20 years
 151,933  164,540 
Buildings
15-39 years
 36,344  36,296 
Vehicles, trucks and trailers
5-10 years
 95,142  85,099 
Land N/A 12,349  12,349 
Land improvements
15 years or life of lease
 9,948  9,882 
Rail improvements
10-20 years
 13,445  13,445 
Other property, plant and equipment(a)
3-12 years
 15,073  15,010 
609,539  695,523 
Deposits on equipment and equipment in process of assembly(b)
10,177  8,921 
619,716  704,444 
Less: accumulated depreciation(c)
511,334  589,362 
Total property, plant and equipment, net $ 108,382  $ 115,082 
(a)    Included in Other property, plant and equipment are costs of $3.1 million at March 31, 2025 and December 31, 2024 related to assets leased to customers under operating leases.
(b)    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.
(c)    Includes accumulated depreciation of $2.8 million and $2.7 million at March 31, 2025 and December 31, 2024, respectively, related to assets leased to customers under operating leases.

Depreciation, depletion, amortization and accretion
A summary of depreciation, depletion, amortization and accretion is below (in thousands):
Three Months Ended March 31,
2025 2024
Depreciation $ 5,987  $ 6,788 
Amortization 21  193 
Depletion and accretion 33  40 
Depreciation, depletion, amortization and accretion $ 6,041  $ 7,021