Elements to Look for in a Drilling Equipment Supplier
From geothermal drilling, water well drilling and mineral exploration, it’s important to have reliable drill rigs. Buying a new piece of drilling equipment is not a small investment: it’s massive!
Depending on how your business is in the drilling industry, there are many reasons you may want to finance a piece of equipment instead.
Here we’ll quickly point out a few things to look for in a drilling equipment supplier and what to consider when getting your new drill rig.
Flexible to Market Conditions & Availability
Depending on the drilling industry market conditions, the availability of a drill rig may or may not be in your favour.
With an improving market, there will be less supply. More contracts will be signed, inventory will be scarce, and drilling rigs will be at higher prices. The reverse is true in poor market conditions, where inventory jumps upward and there are more sellers.
Keep in mind that drilling equipment supplier availability will highly affect your ability to outright purchase machines, whereas financing would be available in any market condition.
Newer Models With Advanced Technology
Having the latest piece of drilling equipment is not unlike having the latest gadget. Clinging to older technology prevents you from upgrades and leads to expensive repairs and downtime. Adopting a newer rig - perhaps one that was out of reach before with financing - will allow your company to have more machine uptime and increase productivity.
There are also safety elements to consider too. An older rig may be outdated, have poor visibility, and maneuverability or lack camera systems for operations. A new rig is more likely to have these elements included in the price tag.
See if Suppliers Have Rod Handling Equipment Available
Similar to having the latest technology, it’s a good sign if a drilling equipment supplier also can provide rod-handling equipment.
This type of equipment is fantastic for crews with fewer hands available and safety. Lifting rods for drilling equipment is repetitive and strenuous. If a rod-handling machine does this automatically for the drilling crew, it can prevent costly workplace accidents and also increase productivity.
Pick a Drilling Equipment Supplier with a Solid Reputation
Outstanding reviews and customer service should be top of mind when looking at drilling equipment suppliers. No company will be perfect, but look at how the company responds to negative and neutral customer experiences.
Customer service is paramount to decisions as well. If you’re going to be financing a piece of equipment, ensure that the company you’re financing with ticks all of the boxes:
- Are they polite and helpful to you?
- Are they responsive to your messages, calls, and emails?
- Do you feel they have a strong sense of integrity? Are they honest in their approach?
It’s no surprise that 90% of customers view online reviews before setting foot into a business. Ensure to check platforms like Google reviews, Yelp and other trustworthy platforms to ensure you’re making an informed decision.
We hope that this article has helped you narrow down your search for a drilling equipment supplier.
At Blue Capital, we do carry a stock of heavy equipment, especially for mining and drilling operations. Don’t forget to reach out to us if you need a quote.