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Why You May Want To Consider Leasing Your Oilfield Equipment

by Phil Lawrence

One of the many factors that you need to consider when you are in charge of an oil drilling business is the oilfield equipment that you and your employees will be using on a daily basis. Getting the right oilfield equipment can make or break your oil drilling operation. However, between the cost of keeping up with innovations in technology and the oilfield services necessary to keep your equipment up and running, your oilfield equipment can also be a major burden. Therefore, you may want to consider leasing your oilfield equipment. Get to know some of the reasons why this may be the best option for you.

Leasing Your Oilfield Equipment Can Get You Nicer Equipment Than You Can Buy

Purchasing oilfield equipment is a major investment, especially if you are just getting started or are trying to expand your business to increase profits. Because of this, you may be limited in what you can purchase and will not necessarily be able to get the most innovative equipment.

Leasing your equipment, on the other hand, means you can get the exact pieces of equipment that you want and benefit from changes and upgrades in technology. For example, if you want the best pneumatic conveyor system (such as those from HAF Equipment Inc.), you may want to lease it so that you can get the top of the line system rather than one that is older and less effective and reliable. This can improve your business's overall operations and profitability and make your business life easier.

Your Funds Are Not All Tied Up In Equipment Costs

Raising capital for any business can be difficult and you do not want to tie all of your capital and funds into the purchase of equipment if you can help it. Leasing your equipment allows you to make monthly payments toward the purchase price of the oilfield equipment you need while also letting you use the rest of your capital for other areas of your business like hiring additional technicians or increasing pay for your workers, among other aspects of your business.

Leasing Does Not Necessarily Mean A Commitment To Buy

Another factor that makes leasing your oilfield equipment desirable in comparison to purchasing the equipment is the fact that signing up to lease the equipment that you need does not necessarily mean that you are committing yourself to buying that equipment. You can make monthly payments on the equipment for as long as you will need to use it and then return the equipment (provided it is still in good condition). This adds flexibility and fluidity to your oil drilling business that you may not have otherwise.  

A Full-Service Equipment Lease Includes Maintenance And Repairs

Should you opt for a full-service lease agreement for your oilfield equipment, you will have the benefit of not being responsible for the maintenance and repairs of your oilfield equipment. This can save you a great deal of time and money and give you peace of mind that your equipment will always be kept in good working order.

Now that you better understand the benefits of leasing your oilfield equipment, you can be sure that you make the right choice for you and your oil drilling business operation.