oilfield equipment

3 Benefits of Renting Oilfield Equipment

4 mins read

Any oil professional knows that the right equipment is the most important aspect of working in an oilfield. Unfortunately, the high cost associated with purchasing oil equipment can prevent some businesses from pursuing certain projects or truly growing their business.

What is there a way that you could lower the cost of equipment while still using top quality products?

There actually is a way to lower your costs without sacrificing quality, and that is by renting oilfield equipment.

No maintenance costs

If you are a contractor that works in the oilfields, you will know that you rely on dependable equipment that is serviced often. One aspect of owning your own equipment is also properly maintaining it.

By renting your heavy equipment from a trusted supplier, you will be able to have the confidence that the equipment is properly maintained. This means you will have your equipment maintained by expert technicians, without having to pay for those costs.

When renting equipment, you will avoid some of these costs:

  • Paying for space to conduct repairs and maintenance
  • Buying the actual tools to perform the maintenance
  • Purchasing parts
  • Technician labor costs
  • Emergency repairs
  • Dealing with wear and tear or parts replacements
  • Preventive maintenance

Flexibility

No two oilfield jobs are the same. Every job will have different requirements for the project, which means that you may need different equipment.

Emergency equipment

Even if you have a huge range of equipment, you never know when you might need an emergency piece of equipment.

Cancellations

In case of cancellations, you will always be prepared with renting. You will also lessen your risk of wasted money on maintenance if you happen to be canceled on. Instead of losing money, you will be able to simply not rent the equipment in the first place.

Large range of options

If you have the wrong equipment for a job then you may have to work twice as hard to get the same job done. By renting your equipment you will be able to have exactly what you need for each job.

Control your project costs and put more money in your pocket

Renting equipment allows you to create an accurate budget, and charge what you need to make the most money. If you know your costs for renting, then there will be no hidden costs when it comes to emergency maintenance. This will make it easier to construct a budget, and you will have a more profitable project.

Renting equipment means your costs are clear. You know the rental fee, and you will know your fuel costs. This is all you need to worry about. You will never need to worry about surprise expenses, and you only pay for the equipment when you need it.

This makes renting equipment helpful to improve cash flow. You will not have to make any huge investments into equipment, leaving more room for profit. Rental equipment is also tax deductible which means you spend less on taxes and put more into your bank account.

Contact Diamond T Services for your Oilfield Equipment Rentals needs.

Jim Morris loves to travel and visit a lot of architecture sites worldwide. He shares lots of information and is always looking forward to the next article on interior design, architecture and landscaping.

general contractor
Previous Story

Everything You Need to Know about a Commercial General Contractor

Latest from Partnerships