PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2025


	As of December 31,
	2025		2024

	(in thousands)
Machinery and equipment	$	561,560	$	581,566
Gathering and disposal infrastructure		418,044		309,854
Pipelines		226,303		103,425
Recycling facilities		168,714		115,227
Buildings and leasehold improvements		108,872		109,520
Land		46,412		39,960
Computer equipment and software		8,260		7,864
Vehicles and equipment		7,247		13,870
Machinery and equipment - finance lease		3,137		533
Office furniture and equipment		1,213		453
Computer equipment and software - finance lease		824		904
Construction in progress		78,820		122,310
		1,629,406		1,405,486
Less accumulated depreciation⁽¹⁾		(717,223)		(679,832)
Total property and equipment, net	$	912,183	$	725,654

(1)

Includes $1.6 million and $0.9 million of accumulated depreciation related to finance leases as of December 31, 2025 and December 31, 2024, respectively.

Schedule of amortization and depreciation expenses


	Year ended December 31,
	2025		2024			2023

	(in thousands)
Category
Depreciation expense from property and equipment	$	151,455	$	137,391		$	122,078
Amortization expense from finance leases		710		217			126
Amortization expense from intangible assets		17,512		17,079			17,873
Accretion expense from asset retirement obligations		10,141		2,260			1,012
Total depreciation, amortization and accretion	$	179,818	$	156,947		$	141,089

Select Water Solutions, Inc. 10-K