National Energy Services Reunited Corp.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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Mar 31, 2026 · Filed May 11, 2026
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5. PROPERTY, PLANT, & EQUIPMENT
- PROPERTY, PLANT, & EQUIPMENT
Property, plant and equipment, net of accumulated depreciation, of the Company consists of the following as of the period end dates set forth below (in US$ thousands):
| Estimated Useful · As of | |||
|---|---|---|---|
| Lives (in years) | March 31, 2026 | December 31, 2025 | |
| Buildings and leasehold improvements | 5 to 25 | $56,588 | $56,937 |
| Drilling rigs, plant and equipment | 1 to 15 | 856,146 | 818,147 |
| Office equipment (furniture and fixtures) and tools | 3 to 10 | 14,930 | 14,785 |
| Vehicles and cranes | 5 to 10 | 8,944 | 9,364 |
| Less: Accumulated depreciation | (538,331) | (522,072) | |
| Land | 11,664 | 11,664 | |
| Capital work in progress | 66,213 | 76,629 | |
| Total | $476,154 | $465,454 | |
The Company recorded depreciation expense of $29.1 million and $29.5 million for the three-month period ended March 31, 2026, and the three-month period ended March 31, 2025, respectively, within Cost of Services in the Consolidated Statements of Operations.
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