Property and Equipment, net

6 Months Ended

Jun. 30, 2024

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, 2024		December 31, 2023
Land	$	16,442	$	16,442
Buildings and improvements	132,661		131,974
Machinery and equipment	133,153		128,962
Reels and skids	16,119		16,181
Vehicles	37,316		36,552
Rental equipment	220,783		218,340
Furniture and fixtures	1,908		1,913
Computers and software	4,115		3,951
Gross property and equipment	562,497		554,315
Less: Accumulated depreciation	(247,332)		(231,594)
Net property and equipment	315,165		322,721
Construction in progress	28,360		22,781
Total property and equipment, net	$	343,525	$	345,502