v3.26.3
Property and Equipment
 9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consist of the following:
Estimated
useful livesSeptember 30,December 31,
($ in thousands)(in years)20262025
LandN/A$27,063 $26,466 
Field services equipment
2-10
3,314,339 3,203,330 
Vehicles
4-7
53,424 56,679 
Lease equipment10158,329 158,716 
Buildings and facilities
5-30
242,109 188,817 
Mineral reserves
>25
80,493 80,339 
Office equipment, furniture, and software
2-7
14,795 13,081 
3,890,552 3,727,428 
Less accumulated depreciation and depletion(2,092,942)(1,968,065)
1,797,610 1,759,363 
Capital depositsN/A651,559 116,021 
Construction in-progressN/A326,635 178,801 
Property and equipment, net$2,775,804 $2,054,185 
During the three months ended September 30, 2026 and 2025, the Company recognized depreciation expense of $99.4 million and $104.6 million, respectively. During the nine months ended September 30, 2026 and 2025, the Company recognized depreciation expense of $298.6 million and $327.2 million, respectively. Depletion expense for the three months ended September 30, 2026 and 2025 was $0.2 million and $0.3 million, respectively. Depletion expense for the nine months ended September 30, 2026 and 2025 was $0.8 million and $0.9 million, respectively.
As of September 30, 2026 and December 31, 2025, the Company concluded that no triggering events that could indicate possible impairment of property and equipment had occurred, other than related to the assets held for sale as discussed below.
As of September 30, 2026 and December 31, 2025, the Company classified $4.0 million of land and $12.7 million of buildings, net of accumulated depreciation, of three properties that it intends to sell within the next year, and that meet the held for sale criteria, to assets held for sale, included in prepaid and other current assets in the accompanying unaudited condensed consolidated balance sheets. The Company estimates that the carrying values of the assets are less than the fair values less the estimated costs to sell and therefore no loss was recorded during the nine months ended September 30, 2026.