In the oilfield industry, keeping up with the latest equipment and machinery is expensive. New equipment is constantly being developed, but getting your hands on those top-quality options isn’t always easy. This is especially true if you’ve already saved up and paid up-front to buy your own.
Oilfield equipment rentals allow you to get the very best machinery for your business at a fraction of the cost. Learn more about why renting oilfield equipment is so beneficial and why you should take advantage of renting instead of buying.
Benefit 1: Renting requires less investment upfront
Oilfield projects require specific equipment in order to perform the necessary tasks that arise every day onsite. Whether you’re an oilfield manager for a larger company or run your own business, purchasing this equipment is costly. Many times, you’ll need extra parts, attachments, or a different type of equipment after you’ve already made a down payment on a purchase.
When you rent, you have more options on-hand when you need them. This helps keep your site operational while putting more money back in your pocket.
Benefit 2: You’re not responsible for equipment maintenance
Other financial issues that often arise are due to maintenance and repairs of oilfield equipment. Maintenance costs are something that every oilfield manager needs to account for if they choose to buy their equipment. Through oilfield equipment rentals, however, the company you rent from is completely responsible for maintaining these machines. While they are repairing the equipment, you can proceed with the job at hand with a replacement rental.
An oilfield rental company can help with maintenance on the following equipment (and more!):
- Forklifts
- Light towers
- Pumps
- Generators
- Fuel tanks
- Man lifts
- Separators
- Compressors
- Tubing
- Sewer and water systems
Benefit 3: You can plan and control your budget better
It’s no surprise that many of the benefits of renting oilfield equipment are related to finances. Because of this, planning and maintaining your project budget becomes a lot easier. Surprise expenses like emergency maintenance issues will no longer put you in the red. Rental fees are also fairly straightforward. You can more easily plan your yearly budget with these fees in mind, without the worry of hidden costs.
Best of all, renting oilfield equipment for your business is tax deductible. This allows you to save more money on overhead costs at the end of the year.
How to Rent Oilfield Equipment
To summarize, there are many benefits of renting oilfield equipment that help improve cash flow and maximize profits. The best way to pursue oilfield equipment rentals is to work with a qualified equipment rental service for the energy industry. Diamond T Services provides cutting-edge equipment and services that help you save time and money. For more information on oilfield equipment rentals, contact our dedicated team.