Drill Rig Companies: Key Considerations When Buying New Drilling Rigs

drill rig companies

Since the discovery and introduction of the first new drilling technology in 1623, drilling has evolved and developed tremendously into one of the major industries that drive global economies.

Today, drill rig companies offer high technology and high-quality drilling equipment that deliver efficient solutions for the complex and rapidly evolving drilling industry.

Drilling is a complex and challenging process. It is necessary to consider the task at hand and evaluate which drilling method and equipment would best accomplish the task with optimum results.

With the abundance of the various drill styles in the market today, deciding which drill to use is a vital investment decision, requiring utmost consideration of factors and variables.

This article will discuss the key considerations when purchasing new drilling rigs for sale in Australia to help drilling rig companies make a sound and profitable choice.

Resources and Expertise

Choose a drill rig company that has the necessary resources such as talent, time, and expertise to maintain and modify drill rigs. Or whether the company has the capabilities to service and repair a drilling rig that has been idle and needs work.

Refurbishing a drill rig can take months and requires the facilities, tooling, and a team of qualified and experienced mechanics with the time and expertise to get drill rigs ready to use for drilling operations.

Cutting Edge Design and Innovation<

Investing in a drill rig that utilizes new technology, cutting-edge design, and innovation provides better opportunities for more productive drilling operations and business profitability. This latest drilling equipment provides more reliable uptime and safety features over older rigs.

As mine site safety regulations become more stringent, a new rig can meet those new safety requirements. While an older rig may not be up to the task, costing a drilling contractor a contract award.

Operational or Equipment Reliability

Old and used drilling rigs are prone to operational breakdown compared to new rigs. That downtime can cost a lot of money and affect drilling contracts.

The cost of repairing the rig and loss of productivity may pile up and cause a lot of trouble for the contractor. That is why a well-maintained operating condition of a drilling fleet is vital for productivity and drilling contract retention.

Cost of Equipment

Sometimes, it is tempting to concentrate on the price when buying a drill rig because of the many low-cost options available. However, just like any big purchase, the overall cost of ownership should be considered and appraised. Drill rigs at lower prices may have a higher total cost of ownership.

Calculating the price or the cost of main replacement and spare parts proves to save money in the long run. Also, consider the availability and quality of those components for more uptime and less spending money to operate the rig than if you purchase equipment at a sale price.

Why Buy New from the Best Drill Rig Companies?

Whether you buy a new or used drill rig, always consider your options, evaluate your existing equipment, and consider what it will take to get them maintained and updated to be competitive.

Remember that the main reason for buying a piece of new equipment versus used equipment is to increase productivity, improve safety, and experience long-term equipment reliability.

If all the benefits of purchasing a new drill rig make sense, talk to an expert to check the available options that meet your current drilling needs and in the near future.

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