By Paul Wiseman The wild swings of pricing in the oil and gas sector have brought turmoil to every part of that business, and equipment leasing is no exception. When drilling slows down, drillers need less equipment. So it goes for equipment companies like Gravity as well as those providing housing, such as Stellar Oilfield […]
The Pursuit of Power
Power. Producing power is what the energy industry is all about. And power is what feeds the energy industry, primes its pumps, lifts its resources, and keeps drillstrings and driveshafts turning to the right. Portability. Portability is what energy producers are all about. It’s a pick-up-and-go industry. Nothing stays still for long. Other industries have […]
Going the Rental Route
The equipment leasing model allows service companies to reduce capex by only paying for certain equipment as it’s needed—as opposed to buying it and letting it sit idle when things slow down. A good deal for them. For leasing companies, in good times, this is fine. Once a forklift finishes at a job in the […]
Chain Reaction
That screeching sound in the background is the brakes being slammed on drilling, at least for the short term. Rental companies feel the heat, whether they’re renting downhole tools, like Lucky Services’ Vice President of Operations Terry Goodwin, or surface machinery, like Gravity Vice President of Rental Solutions Chad Wolf. Both rely more on rentals […]
Gone Fishing
Here’s how Schlumberger’s Glossary defines a “fish”: Anything left in a wellbore. It does not matter whether the fish consists of junk metal, a hand tool, a length of drill pipe or drill collars, or an expensive MWD and directional drilling package. Once the component is lost, it is properly referred to as simply “the […]