U.S. Well Services, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

Property and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 6 – PROPERTY AND EQUIPMENT, NET

Property and equipment as of September 30, 2020 and December 31, 2019 consisted of the following (in thousands):

	Estimated Useful Life	September 30, 2020			December 31, 2019
Fracturing equipment	1.5 to 25 years	$	258,218		$	651,162
Light duty vehicles	5 years		2,184			8,188
Furniture and fixtures	5 years		67			277
IT equipment	3 years		1,676			6,724
Auxiliary equipment	2 to 20 years		12,720			38,502
Leasehold improvements	Term of lease		287			725
			275,152			705,578
Less: Accumulated depreciation and amortization			(32,342	)		(263,968	)
Property and equipment, net		$	242,810		$	441,610

Depreciation and amortization expense related to property and equipment for the three months ended September 30, 2020 and 2019 was $16.2 million and $37.8 million, respectively. Depreciation and amortization expense related to property and equipment for the nine months ended September 30, 2020 and 2019 was $64.9 million and $112.2 million, respectively.

As a result of the impairment test on long-lived assets described in “Note 5 – Goodwill and Intangible Assets,” the Company recorded in the first quarter of 2020 an impairment charge of $140.3 million to reduce the carrying value of property and equipment from $414.1 million to $273.8 million, representing its fair value on the date of impairment.