Property and Equipment, Net

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and equipment at December 31, 2014 and 2013, consisted of the following:



	December 31, 2014			December 31, 2013
	(in thousands)
Rigs and other equipment	$	115,391		$	100,859
Buildings and improvements	18,977			17,923
Land	1,893			1,893
Vehicles	2,197			1,869
Furniture and fixtures	673			494
Assets in progress	644			1,114
	139,775			124,152
Accumulated depreciation	(32,588		)	(18,262		)
Property and equipment, net	$	107,187		$	105,890

Depreciation expense was $14.6 million, $10.5 million, and $7.8 million for the years ended December 31, 2014, 2013, and 2012, respectively, and includes the depreciation associated with assets under capital leases (see Note 10).

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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