Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Carrying Amount and Fair Value of Financial Instruments

The following is a summary of the carrying amounts and estimated fair values of our financial instruments as of December 31, 2017 and 2016 (in thousands):

	Fair Value	December 31, 2017		December 31, 2016
	Hierarchy Level	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Term Loan	3	153,338	162,052	152,838	152,838

Summary of Estimated Useful Lives of the Assets

All property and equipment are depreciated or amortized (to the extent of estimated salvage values) on the straight-line method and the estimated useful lives of the assets are as follows:

Buildings and improvements	20-30 years
Well service units and equipment	3-15 years
Fluid services equipment	5-10 years
Brine and fresh water stations	15 years
Fracturing/test tanks	10 years
Pumping equipment	5-10 years
Construction equipment	3-10 years
Contract drilling equipment	3-10 years
Disposal facilities	10-15 years
Vehicles	3-7 years
Rental equipment	2-15 years
Software and computers	3 years

Amortizable Intangible Assets

Basic’s intangible assets subject to amortization were as follows (in thousands):

	Successor
	December 31, 2017		December 31, 2016
Trade names	3,410		3,410
Other intangible assets	48		48
	3,458		3,458
Less accumulated amortization	237		—
Intangible assets subject to amortization, net	$	3,221	$	3,458

Schedule of Amortization Expense

Amortization expense for the next five succeeding years is expected to be as follows (in thousands):

	Amortization
	Expense
2018	$	237
2019	237
2020	237
2021	237
2022	227
Thereafter	2,046
	$	3,221