For a driller, drilling rigs play a significant role in winning contracts, biddings, and gaining more profits.
Though there will come a time in the life of every driller that needs to purchase a new rig, most of them are still adamant about making such a big decision.
Some drillers opted to repair their existing rigs rather than invest in new rigs and technology. The most common question drillers often ask is whether buying a new rig is a practical decision.
Buying a new drill rig sale Australia is a major investment that entails many variables and factors that need consideration. However, procuring new rigs also provides many advantages, especially in terms of efficiency and overcoming job-site challenges that require innovative and versatile equipment.Â
To help drillers make the right decisions, here are the top considerations when purchasing a new rig.
Latest Technology
As mentioned earlier, investing in new rigs with the latest technology provides better and more productive drilling operations than the old rigs.
Generally speaking, newer rigs are more reliable, productive, and equipped with the latest safety features. As standards and safety requirements for drilling operations continue to elevate, the new rig can effectively meet those safety requirements where an older rig might fail.
There’s also a big chance for drilling contractors with the new rig to win more bids and contracts.
Reliability
The old and used drill rigs have higher possibilities of breaking down more often than the new ones. And that downtime can cost drillers and contractors their hard-earned drilling contracts.
The costs of maintaining them can quickly accumulate over time, resulting in increased loss of productivity, rig uptime contractual obligations, repair, and maintenance.
A well-maintained operational condition of drilling equipment greatly helps in productivity. And a failure to maintain an acceptable level of productivity can cost contractors their contracts and get kicked off the site.
Rig Price
When scouting for a new drill rig, it can be tempting sometimes to shop based on price alone, considering there are so many cheap options available. However, just like any other major purchase, it is crucial to assess the total cost of ownership.
A low-cost drill rig may have a higher total cost of ownership. Taking the time to price out key components and spare parts is proven to save money eventually.
The next important thing to consider is the availability of those replacement parts. Purchasing a cheap drill rig from a company with no global presence can impact your overall business operations due to the lack of local availability and the lead time to get those replacement parts.Â
Why Buy New Drill Rig Sale Australia?
Purchasing a new rig is indeed a huge business decision, and there are elements and variables that affect such a decision. That is why it is essential to take your time in considering your options before committing to the sale.
The first step is to evaluate your existing drilling equipment. Consider how much it will cost you to maintain and update the drilling rig fleet to meet your business needs and achieve a certain level of productivity. Â
Does your current drilling rig fleet take advantage of recent innovations and concurrently meet the required industry safety standards? If repairs and maintenance outweigh returns, you might need to consider updating your fleet. The main reason to purchase new rigs versus old rigs is to improve profitability, enhance safety, and have lasting reliability.
If all the benefits of buying a new rig are worth the investment, talk to an expert to check the available options that meet your drilling needs both today and in the coming years.
