| Property, plant and equipment |
Property, plant and equipment include the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
December 31, |
|
Useful Life |
|
2019 |
|
2018 |
Assets held and used: |
|
|
|
|
|
Pressure pumping equipment |
3-5 years |
|
$ |
214,588 |
|
|
$ |
208,968 |
|
Drilling rigs and related equipment |
3-15 years |
|
122,998 |
|
|
122,198 |
|
Machinery and equipment |
7-20 years |
|
196,691 |
|
|
173,867 |
|
Buildings |
15-39 years |
|
16,887 |
|
|
16,887 |
|
Vehicles, trucks and trailers |
5-10 years |
|
134,952 |
|
|
132,337 |
|
Coil tubing equipment |
4-10 years |
|
29,846 |
|
|
29,128 |
|
Land |
N/A |
|
13,687 |
|
|
14,235 |
|
Land improvements |
15 years or life of lease |
|
10,056 |
|
|
9,614 |
|
Rail improvements |
10-20 years |
|
13,806 |
|
|
13,806 |
|
Other property and equipment |
3-12 years |
|
14,065 |
|
|
13,614 |
|
|
|
|
767,576 |
|
|
734,654 |
|
Deposits on equipment and equipment in process of assembly(a)
|
|
|
8,860 |
|
|
16,865 |
|
|
|
|
776,436 |
|
|
751,519 |
|
Less: accumulated depreciation |
|
|
390,168 |
|
|
337,514 |
|
Total assets held and used, net |
|
|
386,268 |
|
|
414,005 |
|
|
|
|
|
|
|
Assets subject to operating leases: |
|
|
|
|
|
Buildings |
15-30 years |
|
30,725 |
|
|
29,493 |
|
Helicopters |
6 years |
|
4,937 |
|
|
4,937 |
|
|
|
|
35,662 |
|
|
34,430 |
|
Less: accumulated depreciation |
|
|
13,522 |
|
|
11,736 |
|
Total assets subject to operating leases, net |
|
|
22,140 |
|
|
22,694 |
|
|
|
|
|
|
|
Total property, plant and equipment, net |
|
|
$ |
408,408 |
|
|
$ |
436,699 |
|
|
|
|
|
|
|
|
|
a. |
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. |
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| Schedule of depreciation, depletion, accretion and amortization expense |
A summary of depreciation, depletion, amortization and accretion expense is below (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
Depreciation expense |
$ |
28,099 |
|
|
$ |
27,058 |
|
|
$ |
56,165 |
|
|
$ |
51,456 |
|
Depletion expense |
1,734 |
|
|
1,340 |
|
|
1,946 |
|
|
1,427 |
|
Amortization expense |
284 |
|
|
2,382 |
|
|
568 |
|
|
4,790 |
|
Accretion expense |
28 |
|
|
15 |
|
|
42 |
|
|
30 |
|
Depreciation, depletion, amortization and accretion |
$ |
30,145 |
|
|
$ |
30,795 |
|
|
$ |
58,721 |
|
|
$ |
57,703 |
|
|