Questions about Drilling

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During the recent market downturn, many drill rigs had been sitting idle, making it easier to cannibalize components and parts to keep actively drilling rigs operational. Most drillers focused on repairing existing rigs instead of investing in new drill rigs and technology. However, as the market begins to recover, drilling contractors now face critical decisions regarding their fleet: should they rebuild idle rigs or invest in new models?

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Operations managers are well aware of which components (engines, valves, assemblies, etc.) require replacement and typically have a solid estimate of the costs involved in rebuilding idle drill rigs. If the costs of rebuilding align closely with purchasing a new drill rig, conducting a thorough audit becomes crucial. This involves inspecting each of the existing drill rigs, evaluating available spare parts, and reviewing maintenance records to accurately compare costs for preparing a drill rig for active work again.

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