Oil and natural gas are dominant energy sources, and companies looking to purchase oilfield equipment for sale should consider getting new or refurbished pieces rather than shelling out huge amounts of cash on brand new items. The constant quest for new sources of gas and oil involves manufacturers of pumping, processing, and drilling equipment looking for good deals.
The market is competitive for some time now and as conventional oil resources becoming less predominant and the source of fuel is coming from oil sands in Canada or offshore drilling in the Arctic, new equipment will be required. New extraction techniques and complicated drilling operations necessitate new equipment too. As the demand for oil and gas pick up, record orders are becoming commonplace. Reputed upstream oil and gas equipment manufacturers are in huge demand.
The US produces the most oil and gas equipment. For example, it accounted for 45% of global, international production in 2011. Used oilfield equipment for sale ranges from drill bits, to compressors, pumps, gauges, valves, drilling motors, flow meters, wellheads, pressure vessel as well as separation systems. Oil and gas equipment come in different sizes and shapes. Here are the factors you need to take into account before making the purchase, when it comes to used oilfield equipment for sale:
#1 Assembly Factors
Oil and gas equipment generally comprise machined components and heavy metal castings. These subassemblies are created and tested in factories, but the complete assembly takes place at the drilling venue. So, you need to check the assembly factors and ensure the equipment is robust. Most assembly is low volume, high mix. It involves corrosion resilient, high strength alloys. Sizes vary across wellhead castings more than ten feet tall with half an inch rod and fittings.
You need used equipment that can withstand tough operating environments ranging from Siberian gas fields to oil wells in Saudi Arabia. Additionally, equipment used below such as monitoring tools and drill bits should be able to withstand high heat, corrosion, vibration and pressure. In oil wells and drilling areas, operating temperatures may shoot to 5 hundred Fahrenheit or even more.
#2 Surface or Subsea Applications
Crude oil can corrode items and the deeper it is, the higher is its temperature. Subsea drilling operations necessitate unique properties which your oil and gas equipment must have as opposed to surface applications. Reliability and not just robustness is an important point of the equipment too. Your used equipment should be tried and tested. Therefore, the equipment should comply with industry standards and specifications of the customer.
#3 An Asset for Your Business
The used oilfield equipment should be your own and an asset to your business. As one purchases refurbished equipment, the cost factor should be considered. If you are using the equipment frequently and for a long duration, it makes sense to purchase it. Given the intensive nature of oil and gas drilling operations and the rampant wear and tear, it makes even more sense to buy your equipment secondhand.
#4 Return on Investment
If you purchase equipment readily, be sure that it is of the standard where it offers a return on investment. Whether your company operates in Texas or the Arctic, new equipment is an important part of the equation. Buying used pieces means less expense and more capital for your drilling operations. Purchase used equipment and save cash which can be applied to other business parts. Buying used equipment saves time and energy instead of seeking a credit line to finance fresh tools and equipment. This way, you can also afford expensive equipment by purchasing it second hand.
Additionally, there is less risk, more flexibility, and fewer maintenance issues. Breakdowns are lesser because your equipment is used and operational and consequently, downtime is minimized. Moreover, upkeep is also easy. So, choose used equipment and save time and money both. Opt for a reputed retailer and manufacturer for the best deal.
About The Company:
Waters International deals in sale of new and used oilfield drilling equipment. When you need it fast and you need it right, you can count on Waters. For almost half a century, Waters International has been the company to call for dependable new and reconditioned capital drilling equipment.