| PROPERTY, PLANT AND EQUIPMENT, NET |
NOTE 5 – PROPERTY, PLANT AND EQUIPMENT, NETThe following table shows the component of property, plant and equipment, net (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated Useful
Lives (in Years) |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Rental tools and equipment |
|
5-10 |
|
$ |
219,829 |
|
|
$ |
215,596 |
|
Buildings and improvements |
|
5-40 |
|
|
8,126 |
|
|
|
7,876 |
|
Office furniture, fixtures and equipment |
|
3-5 |
|
|
3,258 |
|
|
|
3,153 |
|
Transportation and equipment |
|
3-5 |
|
|
708 |
|
|
|
691 |
|
Total property, plant and equipment |
|
|
|
|
231,921 |
|
|
|
227,317 |
|
Less: accumulated depreciation |
|
|
|
|
(160,647 |
) |
|
|
(156,382 |
) |
Property, plant and equipment, net (excluding construction in progress) |
|
|
|
|
71,274 |
|
|
|
70,935 |
|
Construction in progress |
|
|
|
|
1,752 |
|
|
|
1,667 |
|
Property, plant and equipment, net |
|
|
|
$ |
73,026 |
|
|
$ |
72,602 |
|
Total depreciation expense for the three months ended March 31, 2026 and 2025 was approximately $6.2 million and $6.1 million, respectively.
|