Property and Equipment

6 Months Ended

Jun. 30, 2012

4. Property and Equipment

Property and equipment consisted of the following at June 30, 2012 and December 31, 2011 (in thousands):


	June 30, 2012			December 31, 2011
Equipment	$	5,029,295		$	4,730,925
Oil and natural gas properties		145,303			131,812
Buildings		62,418			64,090
Land		10,411			11,467

		5,247,427			4,938,294
Less accumulated depreciation and depletion		(1,845,014	)		(1,771,028	)

Property and equipment, net	$	3,402,413		$	3,167,266

On April 23, 2012, the Company sold its flowback operations to a subsidiary of TETRA Technologies, Inc. in a cash transaction. The sale price was $42.5 million, and the Company recognized a gain of approximately $22.6 million in the second quarter of 2012 as a result of this transaction.

- 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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