v3.25.2
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
Note 4 — Property and Equipment, Net
Property and equipment, net include the following (in millions):
Estimated Useful Life
(years)		June 30, 2025December 31, 2024
High specification rigs15$155.5 $150.2 
Machinery and equipment
3 - 30
215.2 216.0 
Vehicles
3 - 15
53.1 55.1 
Other property and equipment
5 - 25
21.6 21.4 
Property and equipment445.4 442.7 
Less: accumulated depreciation(237.3)(229.0)
Construction in progress10.5 10.6 
Property and equipment, net$218.6 $224.3 
Depreciation expense was $10.7 million and $10.8 million for the three months ended June 30, 2025 and 2024, respectively, and $21.1 million and $21.8 million for the six months ended June 30, 2025 and 2024.