| Property, plant and equipment |
Property, plant and equipment include the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
December 31, |
|
Useful Life |
|
2018 |
|
2017 |
Pressure pumping equipment |
3-5 years |
|
$ |
199,333 |
|
|
$ |
190,211 |
|
Drilling rigs and related equipment |
3-15 years |
|
137,075 |
|
|
132,260 |
|
Machinery and equipment(a)
|
7-20 years |
|
140,308 |
|
|
97,569 |
|
Buildings |
15-39 years |
|
47,593 |
|
|
45,992 |
|
Vehicles, trucks and trailers(b)
|
5-10 years |
|
91,680 |
|
|
54,055 |
|
Coil tubing equipment |
4-10 years |
|
28,068 |
|
|
28,053 |
|
Land |
N/A |
|
14,183 |
|
|
11,317 |
|
Land improvements |
15 years or life of lease |
|
9,614 |
|
|
9,614 |
|
Rail improvements |
10-20 years |
|
13,101 |
|
|
5,540 |
|
Other property and equipment |
3-12 years |
|
15,006 |
|
|
12,687 |
|
|
|
|
695,961 |
|
|
587,298 |
|
Deposits on equipment and equipment in process of assembly |
|
|
33,349 |
|
|
20,348 |
|
|
|
|
729,310 |
|
|
607,646 |
|
Less: accumulated depreciation(c)
|
|
|
305,995 |
|
|
256,629 |
|
Property, plant and equipment, net |
|
|
$ |
423,315 |
|
|
$ |
351,017 |
|
|
|
a. |
Included in machinery and equipment are assets under capital leases totaling $1.8 million and $1.8 million, respectively, at June 30, 2018 and December 31, 2017.
|
|
|
b. |
Included in vehicles, trucks and trailers are assets under capital leases totaling $3.8 million and $1.0 million, respectively, at June 30, 2018 and December 31, 2017.
|
|
|
c. |
Accumulated depreciation for assets under capital leases totaled $0.9 million and $0.8 million, respectively, at June 30, 2018 and December 31, 2017.
|
|
| 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, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
Depreciation expense(a)
|
$ |
27,058 |
|
|
$ |
17,229 |
|
|
$ |
51,456 |
|
|
$ |
32,196 |
|
Depletion expense |
1,340 |
|
|
382 |
|
|
1,427 |
|
|
384 |
|
Amortization expense |
2,382 |
|
|
2,268 |
|
|
4,790 |
|
|
4,536 |
|
Accretion expense |
15 |
|
|
14 |
|
|
30 |
|
|
14 |
|
Depreciation, depletion, amortization and accretion |
$ |
30,795 |
|
|
$ |
19,893 |
|
|
$ |
57,703 |
|
|
$ |
37,130 |
|
|
|
a. |
Includes depreciation expense for assets under capital leases totaling $0.4 million and $0.2 million, respectively, for the six months ended June 30, 2018 and 2017.
|
|