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Property and Equipment | 9 Months Ended
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Sep. 30, 2014
Property Plant And Equipment [Abstract] |
Property and Equipment | 3. Property and Equipment Property and equipment consisted of the following at September 30, 2014 and December 31, 2013 (in thousands):
| September 30, |  |  | December 31, |
| 2014 |  |  | 2013 |
Equipment | $ | 6,361,452 |  |  | $ | 5,749,975 |
Oil and natural gas properties |  | 207,340 |  |  |  | 183,571 |
Buildings |  | 83,230 |  |  |  | 80,050 |
Land |  | 12,046 |  |  |  | 12,054 |
|  | 6,664,068 |  |  |  | 6,025,650 |
Less accumulated depreciation and depletion |  | (2,756,737 | ) |  |  | (2,390,109 | )
Property and equipment, net | $ | 3,907,331 |  |  | $ | 3,635,541 |
During the period ended September 30, 2014, in connection with its ongoing planning process, the Company evaluated its fleet of marketable drilling rigs and identified 55 mechanical rigs that it determined would no longer be marketed. The Company’s consolidated statements of operations includes a charge of $77.9 million related to the Company’s mechanically powered rig fleet. This charge reflects the retirement of the 55 mechanical drilling rigs and the write-off of excess spare components for the now reduced size of the Company’s mechanical rig fleet.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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