Property and Equipment, net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

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:


	September 30, 2023		December 31, 2022
Land	$	16,442	$	5,302
Buildings and improvements	131,960		25,480
Machinery and equipment	127,701		57,883
Reels and skids	18,028		—
Vehicles	35,319		29,045
Rental equipment	215,581		194,088
Furniture and fixtures	1,905		1,759
Computers and software	3,889		3,068
Gross property and equipment	550,825		316,625
Less: Accumulated depreciation	(222,998)		(200,573)
Net property and equipment	327,827		116,052
Construction in progress	17,395		13,946
Total property and equipment, net	$	345,222	$	129,998