Property and Equipment, net

3 Months Ended

Mar. 31, 2025

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, 2025		December 31, 2024
Land	$	16,442	$	16,442
Buildings and improvements	134,228		133,187
Machinery and equipment	146,199		139,605
Reels and skids	19,538		18,737
Vehicles	43,240		41,175
Rental equipment	225,485		222,975
Furniture and fixtures	2,007		1,905
Computers and software	11,645		4,919
Gross property and equipment	598,784		578,945
Less: Accumulated depreciation	(270,991)		(262,198)
Net property and equipment	327,793		316,747
Construction in progress	19,841		29,261
Total property and equipment, net	$	347,634	$	346,008