{"id":5569,"date":"2020-03-05T13:46:51","date_gmt":"2020-03-05T19:46:51","guid":{"rendered":"https:\/\/www.pickettoil.com\/store\/?p=5569"},"modified":"2020-03-05T13:46:51","modified_gmt":"2020-03-05T19:46:51","slug":"new-re-manufactured-or-used-drilling-equipment","status":"publish","type":"post","link":"https:\/\/pickettoil.com\/store\/new-re-manufactured-or-used-drilling-equipment\/","title":{"rendered":"New, Re-manufactured, or Used Drilling Equipment."},"content":{"rendered":"\n
\"A
New vs. old drilling equipment<\/figcaption><\/figure><\/div>\n\n\n\n

When it comes to the business of resource exploration, equipment for drill rigs is absolutely crucial for the successful winning of bids, as well as the completion of all the contracts and turning a profit. And as you probably know already, purchasing a brand new rig is not a small decision. It\u2019s something that a lot of factors and variables have an effect on. With that in mind, the question is – should you actually buy new drilling equipment?<\/p>\n\n\n\n

The downturn in the volatility of the oil and mineral market\nin the past couple of years has left quite a few drill rigs idle. While this\nisn\u2019t good for the business as a whole, it also means that it\u2019s not difficult\nto cannibalize parts and components in order to keep the other active rigs\nmaintained. Naturally, that\u2019s not an indefinitely sustainable way to run a\ndrilling business. But is new drilling equipment a better option than keeping\nthe old one for your specific business? We\u2019ll explore all of the factors that\ngo into such a decision below!<\/p>\n\n\n\n

Resources<\/h2>\n\n\n\n

Naturally, resources are important when it comes to\nmaintaining a business. But besides the expenses of actually buying\ndrilling equipment<\/a>, there are other factors to think about – such as\ncapabilities, talent, and the time to perform the overhauls required to get an\nolder rig going. If you want to overhaul an existing rig, you could potentially\nsave hundreds of thousands of dollars. Replacing components of the rig or\nRe-manufacturing equipment such as Blowout Preventers can leave you with\nexponential savings. Relying on companies such as Pickett Oilfield, LLC to\nfulfill your pressure control needs for certified remanufactured equipment or\nnew spools and ram blocks could save you time and money.  <\/p>\n\n\n\n

\"An
Management is an important aspect of running an oil extraction business! <\/figcaption><\/figure><\/div>\n\n\n\n

New Technology<\/h2>\n\n\n\n

If you want your drilling company to be viewed as a valuable\ncontractor like amroofingcompany.com<\/a>, you will need to keep up with the\nlatest technology. Companies with older fleets of drill rigs will find that a\nbrand new rig offers more options in terms of productivity; you can drill more\nefficiently for more meters. Generally, newer rigs are simply more productive,\nand more reliable in terms of the uptime you can reasonably expect. Plus, not\nunimportantly, these newer rigs are far better in terms of operational safety,\nwith more features designed for that. <\/p>\n\n\n\n

In fact, some newer safety requirements for drilling sites,\ndepending on your jurisdiction, might actually dictate you purchasing a new rig\nthat is in compliance with those; so make sure you\u2019re up-to-date with local\ndrilling regulations. This could make or break your attempts to win a drilling\ncontract. <\/p>\n\n\n\n

However, purchasing a Used Drilling Rig that just needs a\nfew components can be cost effective when you buy Certified Remanufactured <\/em>equipment such as blowout preventers, or New<\/em> pieces of equipment such as Drilling\nSpools, Adapters Spools, Spacer Spools, and Ram blocks to replace those parts\nof the drilling rig to ensure consistent productivity, giving you the best of\nboth worlds in new technology and savings.<\/p>\n\n\n\n

\"An
Consider whether your drilling company could use Re-manufactured Equipment.<\/figcaption><\/figure><\/div>\n\n\n\n

Reliability<\/h2>\n\n\n\n

If you\u2019re working with used drill rigs, you need to be more\nprepared for them to break down than with new ones. And this means downtime\nthat could severely affect your ability to complete a contract on schedule. The\nexpenses that you accrue due to rig downtime, repairs, and productivity losses\ncould end up amounting to quite a lot. Inspect your equipment, and see if it\u2019s\nup to snuff in order to decide whether buying new parts or machinery is what\nyou need. Obtaining good used or certified remanufactured equipment could help\navoid downtime in the first place if purchased by a reputable company with\nsolid standards on the equipment they sell.<\/p>\n\n\n\n

Used vs New<\/h2>\n\n\n\n

Once you start looking for replacement equipment, the\nquestion you\u2019ll need to ask yourself is – do you buy used drilling equipment,\nor new drilling equipment? When you\u2019re looking to purchase drilling equipment,\nit\u2019s rarely easy to see if the equipment was used gently, or if it was treated\nharshly in the field. Therefore, it is imperative to purchase your Good Used,\nRemanufactured, or New equipment from a company that has been in the industry\nfor many years, a company that has built its reputation on selling quality\ndrilling equipment, such as Pickett Oilfield, LLC.<\/p>\n\n\n\n

\"An
Both new and old drilling equipment has its uses!<\/figcaption><\/figure><\/div>\n\n\n\n

Expenses<\/h2>\n\n\n\n

When you decide to buy a drill rig, shopping for low-cost\noptions is always tempting; this is an expensive business, and saving money\nwhere you can is always a great thing. However, as with any other kind of\nproduct purchase; you need to evaluate just how much the entirety of the\nownership costs will be. If you want to be careful with your budget, take some\ntime to gauge the prices of all the crucial replacement parts, as well as other\nspare parts that you\u2019ll probably buy sometime in the future. <\/p>\n\n\n\n

Moreover, you should also keep the availability of said\ncomponents in mind. If you\u2019re buying an inexpensive drilling rig from a company\nthat doesn\u2019t have a presence on the global market, you may face limited\navailability of spare parts. Plus, the lead times for the spare parts and\ncomponents could have an impact on the bottom line of your company. Quite a few\nmanufacturers don\u2019t offer support beyond their regional customers. <\/p>\n\n\n\n

However, purchasing these parts from a third party can be a\nviable possibility. Locating parts of the drilling rig to replace is what\nPickett Oilfield does. Their many years in the Oilfield Industry has enabled\nthem to find equipment at prices that other companies simply cannot.\nAdditionally, they are able to do this in a timely fashion to keep you up and\nrunning smoothly.<\/p>\n\n\n\n

Conclusion<\/h2>\n\n\n\n

At the end of the day, it\u2019s not always certain whether buying new drilling equipment is better. On the one hand, you may be dealing with more reliable equipment; but on the other, you\u2019ll need to make a bigger upfront investment. It\u2019s all a matter of weighing the different pros and cons and making an informed choice for your company!<\/p>\n\n\n\n

Written By: Lisa Roberts<\/em> (Contributor)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to the business of resource exploration, equipment for drill rigs is absolutely crucial for the successful winning of bids, as well as the completion of all the contracts and turning a profit. And as you probably know already, purchasing a brand new rig is not a small decision. It\u2019s something that a … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":5432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,28],"tags":[],"class_list":["post-5569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-equipment","category-oilfield"],"yoast_head":"\nNew, Re-manufactured, or Used Drilling Equipment. - Pickett Oilfield, LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pickettoil.com\/store\/new-re-manufactured-or-used-drilling-equipment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New, Re-manufactured, or Used Drilling Equipment.\" \/>\n<meta property=\"og:description\" content=\"When it comes to the business of resource exploration, equipment for drill rigs is absolutely crucial for the successful winning of bids, as well as the completion of all the contracts and turning a profit. 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