Benefits of Renting Oilfield Equipment
The technologies used in the oilfield industries are constantly evolving and expensive. New equipment is being developed regularly, making it difficult to get access to the best quality equipment available, especially if you have already budgeted and paid to buy your equipment. With the help of oilfield equipment rentals, you can rent the best and latest machines for your business at an affordable cost. In this article, we shall be highlighting some of the benefits of oilfield equipment rentals US-created.
Renting doesn’t require much upfront investment
Specific machines and equipment are needed to perform tasks on-site each day in the oilfield industry. As an oilfield manager of a large company or the owner of a business, the costs of purchasing this equipment are expensive. Most of the time, after making payments for this equipment, you will need to buy extra parts for it to function correctly. But when you rent this equipment, you can rent different equipment without needing to pay for extra parts, which will keep your project running and save you extra cash.
No maintenance cost required
Most times, the problem of purchasing oilfield equipment is usually the cost of maintenance and repairs of this equipment. Every oilfield manager needs to account for maintenance costs when they choose to acquire their equipment. However, when you opt to rent this equipment, the rental company takes full responsibility for the cost of maintaining this equipment. If one of the pieces of equipment breaks down, you can opt for another oilfield equipment rental to continue your project.
Renting offers you the opportunity to plan your budgets
When it comes to renting oilfield equipment, you have the power to control your budget while executing your project. Extra expenses such as the cost of maintenance won’t affect your budget when managing your projects. Since there is no additional hidden cost attached to rentals, planning for budgets can be done quickly. Also, another advantage of using oilfield rentals is that renting this equipment is tax-deductible, which helps you save extra money at the end of the project year.
No resale cost
There is a time when every business owner (oilfield managers and owners) worries about disposing of their equipment to get a new one. This equipment tends to lose its resale value over time due to usage. But when this equipment is obtained from an oilfield rental service, the need to worry about the resale value is eliminated. All you need to worry about is returning the equipment when you are done with it without any damage.
Always equipped with the right equipment
Some project managers are forced to turn down a project because they are not equipped with the necessary equipment to execute such projects. When you are not equipped with the right equipment for a job, this might affect your total operating cost because you may need to pay more people to work. Meaning the cost of operation is increased. However, you can ensure that you rent the right equipment for the project when you rent this equipment.
There are many benefits of renting oilfield equipment that can help you improve cash flow into your business and grow your profits. This article highlights the benefits of renting oilfield equipment.