Oilfield equipment are used to bore into the earth’s subsurface to extract hydrocarbons also generally classified as crude oil and natural gas. The equipment in the rigs comprise a set of equipment that carry out a slew of services, namely sampling subsurface mineral deposits, carrying out testing of the physical properties of mined of dug up rock, soil, groundwater, in addition to tunneling and drilling operations. Take a god look at how surplus oilfield equipment can be used by contractors and agencies in their well construction tasks for better operational efficiency and margins.
Uses of drilling equipment
Drilling equipment are basically used by geologists to locate oil through an oil trap, extracting oil after examination of the terrain through various resources. Some of the major parts of drilling equipment include – crown, crown block, turn table, traveling block, swivel, draw works, sand pipe, drill pipe, fuel or water tanks, engine, rotary hose, conductor pipe, bore hole, pipe rack, bit, mud pit and mud pump. All of these components form part of the equipment used in drilling rigs that are actually leveled over the main boring hole.
Drilling equipment also includes the mast or derrick, engines, pumps, hoisting and rotating equipment that combine to form a seamless operation. Drill collars and drill pipe and other parts of the rig are hoisted when required, following which the drill bit is attached to the string to commence drilling. Drilling bits are placed in the hole along with the collar and the drilling pipe. The turn table and the Kelly are then fixed and the oilfield equipment then facilitates circulation of the mud through the pipe and out of the bits outside the hole. New sections or joints are then included in the pipes when the hole gets deeper calling for longer lengths of pipe. When the preset depth is reached, the pipe is then removed with other equipment such as the bit and the collar. This could be anywhere between several hundred feet to a few thousand feet.
Dip in prices demands optimized utilization of resources
The dip in crude prices since 2014 demands that contractors and operators utilize resources in a manner so as to streamline margins. Surplus oilfield equipment is a better choice when compared with new investments. Surplus oilfield equipment is typically proven equipment available at cheaper prices, making them a better choice in terms of efficiency and pricing. This will contribute to better margins vis-à-vis investments in the backdrop of falling prices that has hit the sector. With OFS looking up over the past five to six months, it makes better business sense for contractors and operators to choose options that increase profits and efficiency in operations.
The use of surplus oilfield equipment helps contractors and operators to minimize costs while making specialized equipment available for use in the operations. Oilfield equipment are specialized and rugged equipment built to operate in harsh conditions over long stretches without breaks and the right choice of equipment always improves operations.
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.