Property And Equipment

3 Months Ended

Mar. 31, 2012

4. Property and Equipment

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


	March 31, 2012		December 31, 2011

Land	$	12,325	$	11,314
Buildings and improvements		49,038		47,710
Well service units and equipment		472,127		447,743
Fluid services equipment		184,312		179,495
Brine and fresh water stations		13,797		13,000
Frac/test tanks		257,085		246,816
Pressure pumping equipment		252,893		246,931
Construction equipment		29,615		29,281
Contract drilling equipment		95,270		93,728
Disposal facilities		80,019		78,632
Vehicles		56,875		54,238
Rental equipment		51,683		46,851
Aircraft		4,251		4,251
Software		23,820		23,595
Other		16,253		15,690

		1,599,363		1,539,275

Less accumulated depreciation and amortization		718,036		682,863

Property and equipment, net	$	881,327	$	856,412

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):


	March 31, 2012		December 31, 2011

Light vehicles	$	31,305	$	28,794
Well service units and equipment		1,671		1,671
Fluid services equipment		88,078		83,544
Pressure pumping equipment		26,729		24,260
Construction equipment		1,450		1,341
Software		17,120		16,896
Other		557		557

		166,910		157,063

Less accumulated amortization		66,646		60,455

	$	100,264	$	96,608

Amortization of assets held under capital leases of approximately $6.4 million and $4.9 million for the three months ended March 31, 2012 and 2011, 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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