Property and Equipment

12 Months Ended

Dec. 31, 2019

Property and Equipment

Property and Equipment

Note 5—Property and Equipment

Property and equipment consists of the following:

	December 31,
	2019		2018
	(in thousands)
Drillships and related equipment	$	1,962,211	$	1,926,773
Other property and equipment		259		682
Property and equipment, cost		1,962,470		1,927,455
Accumulated depreciation		(119,921)		(12,283)
Property and equipment, net	$	1,842,549	$	1,915,172

During the Successor periods in 2019 and 2018 and the Predecessor periods in 2018 and 2017, depreciation expense was $108.1 million, $12.3 million, $247.7 million and $278.2 million, respectively.