Four Factors to Consider when Buying Drilling and Oilfield Equipment

Published On February 19, 2018 | By Adam Morg | Shopping

The demand for oil and natural gas continues to rise and companies that want to buy oilfield equipment for sale must think about getting new or used pieces. As the search for new gas and oil sources continues, manufacturers of pumping, drilling and processing equipment want to find excellent deals. This equipment is available in various shapes and sizes. When buying a piece, there are factors that must be considered. This can help you ensure that you get the pieces of equipment that you can rely on and one that can increase your chances of getting a great return on your investment.

These factors include the following:

Equipment Assembly

In general, gas and oil equipment is composed of machined parts and heavy metal castings. These are subassemblies made and tested by manufacturers; however, the full assembly happens at the site in which the drilling will be carried out. Thus, it is imperative to check the assembly factors and make sure the robustness of the equipment.

Specific Applications

Subsea drilling operations require unique properties that gas and oil equipment should have. Every piece of equipment in any drilling must be dependable enough. They need to be tried and tested as well as comply with customer specifications and industry standards.

Potential to Give a Good Return on Investment

The right equipment to buy should be able to give a good return on your investment. Consider the cost factor and the expected outcomes. Buying used oilfield equipment means less expense and more capital that you can use for your drilling operations. Buying this equipment saves you energy and time as you do not have to find a source of financing to buy new equipment and tools.

Moreover, second-hand equipment comes with less risk, fewer maintenance problems and more flexibility. There are lesser breakdowns as this equipment is operational. Just make sure though that you buy it from a reputable retailer or manufacturer that will give you an excellent deal.

Durability and Operability

Any oilfield equipment you buy will be your own business asset. You will want to buy pieces that your company will be proud of having. You don’t want to disappoint your clients for delayed jobs due to malfunctioning equipment. If you will be using the equipment frequently and for a long time, think about buying used equipment. Because of the drilling operations’ intensive nature and constant wear and tear, you will want dependable equipment that will not cost you a lot.

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