Why is Directional Drilling Tool Rental an Excellent Choice for Contractors?
Dec 22, 2018 15:45
Every contractor tries to find ways to save money in order to increase profit margins while maintaining the quality of work completed. The best way to achieve this is by tooling rental. It is a common practice in the construction industry because heavy equipment and tools are expensive to purchase and even more difficult to maintain. As such, the directional drilling market benefits significantly from tool rental.
Factors to consider in renting directional drilling equipment
Before considering whether to purchase or to rent directional drilling equipment, the contractor must do a complete cost analysis. Most projects won’t require the use of a drill rig on a daily basis for every job acquired, so tying up capital by buying expensive drilling equipment does not make sense businesswise.
Maintenance is another factor that leads most contractors to rent rather than buy. Heavy equipment only has a specific lifespan. After a certain number of years in operation, you’ll need to spend more on repairs and parts replacement while at the same time paying a full-time employee to look after storage and upkeep. Although there are large contractors that are willing to invest in heavy equipment if they have the resources and need for it, most small and medium operations do not have the same luxury.
Horizontal directional drilling equipment rental companies have different terms and conditions. In general, rental companies require an upfront payment for a portion of the total amount of time the equipment will be on a lease. Another advantage of renting is that, depending on the contract, there may be insurance included to cover repairs or accidental damage. Rental period ranges from daily, weekly, and monthly deals. Before signing a rental agreement, you need to know the extent to which you are responsible for the equipment as well as the limits of your obligation.
Scenarios where renting is the best option
Renting drilling equipment has many benefits especially since completing a borehole can come with a number of surprises. For example, you may begin drilling the entry point in clay soil only to stumble upon rocks a few yards ahead. Dealing with different soil composition requires a different tool as well. To avoid the cost of acquiring new tools to complete the job, you can rent instead.
Tooling rental also resolves many of the inconveniences associated with going back and forth from one job site to another to find tools the crew may have left or forgotten to bring. When you rent a complete set of tools from one company, you have the assurance that everything you need will be at the right place at the right time.
Rental companies also have the expertise to guide contractors in choosing the right equipment necessary for the job. In some rare scenarios when you need to have multiple reamer options, renting is a more cost-effective solution. Indeed, the directional drilling tool and equipment rental help contractors in many ways to maintain a steady profit margin, while at the same time completing a project with satisfactory results.
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