Property and Equipment

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property and equipment at March 31, 2015, and December 31, 2014, consisted of the following:



	March 31, 2015			December 31, 2014
	(in thousands)
Rigs and other equipment	$	116,235		$	115,391
Buildings and improvements	19,206			18,977
Land	1,893			1,893
Vehicles	2,304			2,197
Furniture and fixtures	776			673
Assets in progress	298			644
	140,712			139,775
Accumulated depreciation	(36,407		)	(32,588		)
Property and equipment, net	$	104,305		$	107,187

Depreciation expense was $3.8 million and $3.5 million for the three months ended March 31, 2015 and 2014, respectively.

- 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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