Property and Equipment, net

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and Equipment, net

Property and equipment are stated at cost. We manufacture or construct most of our Pressure Control rental equipment assets. During the manufacture of these assets, they are reflected as construction in progress until complete. Property and equipment consists of the following:

	June 30, 2023		December 31, 2022
Land	$	16,442	$	5,302
Buildings and improvements	131,733		25,480
Machinery and equipment	125,011		57,883
Reels and skids	18,028		—
Vehicles	33,425		29,045
Rental equipment	212,403		194,088
Furniture and fixtures	1,894		1,759
Computers and software	3,714		3,068
Gross property and equipment	542,650		316,625
Less: Accumulated depreciation	(214,092)		(200,573)
Net property and equipment	328,558		116,052
Construction in progress	17,398		13,946
Total property and equipment, net	$	345,956	$	129,998