Property and Equipment

9 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

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

	September 30, 2015			December 31, 2014
	(in thousands)
Rigs and other equipment	$	118,884		$	115,391
Buildings and improvements	19,377			18,977
Land	1,893			1,893
Vehicles	2,304			2,197
Furniture and fixtures	851			673
Assets in progress	473			644
	143,782			139,775
Accumulated depreciation	(44,106		)	(32,588		)
Property and equipment, net	$	99,676		$	107,187

Depreciation expense was $3.9 million and $3.7 million for the three months ended September 30, 2015 and 2014, respectively. Depreciation expense was $11.5 million and $10.8 million for the nine months ended September 30, 2015 and 2014, respectively.