Property and Equipment

9 Months Ended

Sep. 30, 2011

4. Property and Equipment

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


	September 30,		December 31,
	2011		2010
Land	$	8,478	$	5,361
Buildings and improvements		43,280		32,047
Well service units and equipment		441,260		416,015
Fluid services equipment		167,313		148,989
Brine and fresh water stations		12,386		10,969
Frac/test tanks		238,129		151,379
Pressure pumping equipment		248,073		171,892
Construction equipment		28,890		27,799
Contract drilling equipment		75,972		44,181
Disposal facilities		77,070		66,388
Vehicles		52,741		39,844
Rental equipment		48,873		43,502
Aircraft		4,251		4,251
Software		23,595		22,296
Other		13,700		7,345

		1,484,011		1,192,258

Less accumulated depreciation and amortization		649,826		566,556

Property and equipment, net	$	834,185	$	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):


	September 30,		December 31,
	2011		2010
Light vehicles	$	33,404	$	25,800
Well service units and equipment		1,551		1,791
Fluid services equipment		78,286		65,874
Pressure pumping equipment		23,161		18,293
Construction equipment		1,341		1,269
Software		15,548		15,548
Other		487		244

		153,778		128,819

Less accumulated amortization		62,550		56,087

	$	91,228	$	72,732

Amortization of assets held under capital leases of approximately $5.7 million and $5.4 million for the three months ended September 30, 2011 and 2010, respectively, and $15.9 million and $16.3 million for the nine months ended September 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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