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

Included in pump equipment above is $6.8 million and $7.4 million, as of June 30, 2012 and December 31, 2011, respectively, worth of pumps obtained under various capital leases. Included in accumulated depreciation above are $2.5 million and $2.2 million, as of June 30, 2012 and December 31, 2011, respectively, associated with the same capital leases. Under the terms of all such capital leases, the Company does not presently hold title to these pumps, and will not obtain title until such time as the capital lease obligations are settled in full.

Depreciation expense for the three and six months ended June 30, 2012 was $1.5 million and $2.9 million, respectively. Depreciation expense for the three and six months ended June 30, 2011 was $1.6 million and $3.2 million, respectively. For all periods these expenses were recorded in cost of revenues and general and administrative expenses, for pump equipment and other fixed assets, respectively.