Property and Equipment

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment at June 30, 2015, and December 31, 2014, consisted of the following:

	June 30, 2015			December 31, 2014
	(in thousands)
Rigs and other equipment	$	117,172		$	115,391
Buildings and improvements	19,370			18,977
Land	1,893			1,893
Vehicles	2,304			2,197
Furniture and fixtures	851			673
Assets in progress	559			644
	142,149			139,775
Accumulated depreciation	(40,241		)	(32,588		)
Property and equipment, net	$	101,908		$	107,187

Depreciation expense was $3.8 million and $3.6 million for the three months ended June 30, 2015 and 2014, respectively. Depreciation expense was $7.7 million and $7.1 million for the six months ended June 30, 2015 and 2014, respectively.