Property and Equipment, net

3 Months Ended

Mar. 31, 2024

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:


	March 31, 2024		December 31, 2023
Land	$	16,442	$	16,442
Buildings and improvements	132,091		131,974
Machinery and equipment	130,082		128,962
Reels and skids	16,124		16,181
Vehicles	37,657		36,552
Rental equipment	219,692		218,340
Furniture and fixtures	1,908		1,913
Computers and software	4,112		3,951
Gross property and equipment	558,108		554,315
Less: Accumulated depreciation	(239,984)		(231,594)
Net property and equipment	318,124		322,721
Construction in progress	26,849		22,781
Total property and equipment, net	$	344,973	$	345,502