Property and Equipment and Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2026

Property and Equipment and Identifiable Intangible Assets

Property and equipment consisted of the following (in thousands):


	June 30, 2026		December 31, 2025
Compression and treating equipment (1)	$	5,185,767	$	4,243,709
Automobiles and vehicles	96,399		62,461
Computer and other equipment	55,048		41,045
Leasehold improvements	17,725		11,004
Buildings	23,786		3,935
Furniture and fixtures	2,149		1,231
Land	1,607		77
Total property and equipment, gross	5,382,481		4,363,462
Less: accumulated depreciation and amortization	(2,352,639)		(2,200,838)
Total property and equipment, net	$	3,029,842	$	2,162,624

(1)As of January 1, 2026, we reclassified $62.7 million of serialized inventory to fixed assets. The intended use of these assets changed from sale to third party to internal use for fixed assets. Once the serialized inventory is placed into service, depreciation will commence in line with overhauls and major improvements that increase the value or extend the life of compression equipment which are capitalized and depreciated over three to five years.

Depreciation expense on property and equipment and (gain) loss on disposition of assets were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Depreciation expense	$	81,112	$	63,496	$	160,304	$	126,544
(Gain) loss on disposition of assets	(994)		39		(1,539)		1,364

Schedule of estimated useful lives of property, plant, and equipment

Depreciation is calculated using the straight-line method over the estimated useful lives of the assets as follows:


Compression and treating equipment, acquired new			25 years
Compression and treating equipment, acquired used			5 - 25 years
Furniture and fixtures			3 - 10 years
Vehicles and computer equipment			1 - 10 years
Buildings			5 - 20 years
Leasehold improvements			5 - 7 years

Schedule of identifiable intangible assets

Identifiable intangible assets, net consisted of the following (in thousands):


	Customer Relationships		Trade Names		Total
Net balance as of December 31, 2025	$	172,430	$	14,463	$	186,893
J-W Power Acquisition	—		5,400		5,400
Amortization expense	(13,070)		(2,483)		(15,553)
Net balance as of June 30, 2026	$	159,360	$	17,380	$	176,740