Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, net

v3.25.2
Property, Plant and Equipment, net
 6 Months Ended
Jun. 30, 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):
June 30, December 31,
Useful Life 2025 2024
Machinery and equipment
7-20 years
 $ 72,608  $ 114,428 
Buildings and leasehold improvements
15-39 years
 30,155  38,039 
Aviation equipment(a)
3-10 years
 17,500  3,742 
Vehicles, trucks and trailers
5-10 years
 16,953  19,716 
Drilling rigs and directional drilling equipment
3-15 years
 13,186  96,120 
Rail improvements
10-20 years
 11,759  13,445 
Land N/A 6,025  11,679 
Other property, plant and equipment
3-15 years
 6,854  17,385 
175,040  314,554 
Equipment not yet placed in service(b)
12,032  3,094 
187,072  317,648 
Less: Accumulated depreciation(c)
118,650  250,923 
Total property, plant and equipment, net $ 68,422  $ 66,725 
(a)    This equipment relates to assets leased to customers under operating leases.
(b)    Represents purchased equipment that is being outfitted for its intended use.
(c)    Includes accumulated depreciation of $3.6 million and $2.7 million at June 30, 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 June 30, Six Months Ended June 30,
2025 2024 2025 2024
Depreciation $ 2,238  $ 2,541  $ 4,282  $ 5,774 
Amortization 14  14  27  27 
Depletion and accretion 580  353  614  393 
Depreciation, depletion, amortization and accretion $ 2,832  $ 2,908  $ 4,923  $ 6,194