Do you need to rent a fleet of equipment for your oilfield work? There are many companies that can help you with that, from general equipment rental dealers to those who specialize in oilfield work. Far too often, oil companies choose their rental partner based solely on price. While price is important, there are other important factors that you should consider. Having the right rental partner can make you more efficient and ultimately produce a wide range of cost savings. Here are three things to look for in your next oilfield equipment rental partner:
Wide range of equipment. Ideally, you want a long-term, dedicated partner who can meet all of your equipment rental needs. Look for a rental company that carries not only the equipment you need today, but also equipment that you may need in the future. Also, consider the size of their fleet. Will they always be able to provide you with equipment if your work grows? Or is it possible that they could someday be out of stock on certain equipment?
By working with a single company that offers a wide range of equipment, you avoid a great deal of back-office admin work. You don't have to place separate orders with separate companies or pay multiple invoices. Plus, by developing one relationship and using them for everything, you may be able to negotiate preferred pricing.
Tracking software. The most advanced oilfield equipment dealers have software that allows you to track your equipment and get full transparency into how it's deployed in the field. You can see how your equipment is allocated between different locations. Some vendors even put GPS devices in their equipment so you can track location in real time.
When you can see all of your pieces of equipment on a map in real-time, you can make adjustments on the fly. You don't have to call field managers to see what equipment they have or need. Rather, your operations team can simply move equipment from field to field on their own with the data they have available. That saves valuable time and allows you to manage your equipment more efficiently.
Advanced reporting. Your rental partner should also have reporting systems that allow you to analyze your equipment usage. The reports should tell you how much you are using the equipment and compare that to what you're paying for. The reporting may tell you that you only need certain pieces of equipment for fewer hours than you're currently renting it for. Or you may learn that by renting larger lights, you could actually cover more area and save money. If you also own pieces of equipment, you could use the reporting to make sure you're maximizing owned equipment and only using rented pieces as necessary.
Talk to your equipment rental company about how they can help you be more efficient in your equipment management. Click here for more information about how the best partners can not only provide equipment but help you boost your bottom line.
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