Property and Equipment

6 Months Ended

Jun. 30, 2011

4. Property and Equipment

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


	June 30,		December 31,
	2011		2010
Land	$	5,391	$	5,361
Buildings and improvements		35,310		32,047
Well service units and equipment		429,343		416,015
Fluid services equipment		159,073		148,989
Brine and fresh water stations		11,306		10,969
Frac/test tanks		183,611		151,379
Pressure pumping equipment		186,575		171,892
Construction equipment		28,571		27,799
Contract drilling equipment		76,281		44,181
Disposal facilities		70,129		66,388
Vehicles		44,645		39,844
Rental equipment		45,964		43,502
Aircraft		4,251		4,251
Software		22,248		22,296
Other		9,547		7,345

		1,312,245		1,192,258
Less accumulated depreciation and amortization		618,354		566,556

Property and equipment, net	$	693,891	$	625,702

Basic is obligated under various capital leases for certain vehicles and equipment that expire at various dates during the next five years. The gross amount of property and equipment and related accumulated amortization recorded under capital leases and included above consisted of the following (in thousands):


	June 30,		December 31,
	2011		2010
Light vehicles	$	27,622	$	25,800
Well service units and equipment		1,536		1,791
Fluid services equipment		77,472		65,874
Pressure pumping equipment		22,352		18,293
Construction equipment		1,269		1,269
Software		15,548		15,548
Other		244		244

		146,043		128,819
Less accumulated amortization		58,793		56,087

	$	87,250	$	72,732

Amortization of assets held under capital leases of approximately $5.2 million and $5.9 million for the three months ended June 30, 2011 and 2010, respectively, and $10.2 million and $10.9 million for the six months ended June 30, 2011 and 2010, respectively, is included in depreciation and amortization expense in the consolidated statements of operations.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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