Property and Equipment

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property and equipment amounts as of March 31, 2026 and December 31, 2025 were as follows:


		Successor		Predecessor
	Estimated Useful Lives	March 31, 2026		December 31, 2025
		(in thousands)		(in thousands)
Operating equipment	1 to 12 years	$	100,242	$	321,177
Autos and trucks	1 to 7 years	308		2,904
Furniture, fixtures, and equipment	1 to 12 years	219		2,328
Shop equipment	3 to 15 years	3,224		11,639
Buildings	7 to 39 years	3,022		4,775
Leasehold improvements	3 to 11 years	1,660		4,283
Land	indefinite	2,539		3,219
		111,214		350,325
Less: Accumulated depreciation		(2,201)		(286,059)
Property and equipment, net		$	109,013	$	64,266

Depreciation expense was $2.2 million, $4.0 million, and $5.8 million for the 2026 Successor Period, the 2026 Predecessor Period, and the 2025 Predecessor Period, respectively.