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Tag Archives: oilfield equipment

Equipment rental offers economic benefits in low price environment

Light Tower Rentals, equipment rental

Oilfield operators are struggling to operate efficiently in today’s challenging environment. To avoid large capital expenditures and maintenance costs, more and more operators are shifting from buying equipment to equipment rental. Renting equipment provides customers with certainty because the costs to rent are predictable, and the rental company handles the maintenance, repair and delivery, which are variable expenses that can ...

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Top 5 benefits of equipment rental in a devalued oil and gas market

Let’s face it. In stronger markets, buying is possibility the better choice. However, don’t underestimate renting as a business-saving option. Renting allows companies to avoid increasing capital expenditures, save money on preventative maintenance and repairs services as well as ensures that equipment doesn’t become technologically obsolete. Once the decision to rent has been made, what next? There are multiple companies that ...

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National Oilwell forecasts declining revenue

National Oilwell Varco Inc, the largest U.S. oilfield equipment maker, reported lower-than-expected quarterly revenue and forecast declining revenue for the next few quarters as weak oil prices reduce drilling activity. The company, which in February warned of a “severe downturn” in its business, said total backlog fell to $11.86 billion in the first quarter ended March 31 from $14.32 billion ...

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Weld County sees more oilfield theft

hands in handcuffs

Between pricey equipment and the valuable fuel it churns up, oilfield are home to millions—if not billions—of dollars in assets. Like anything of value, the machinery is prone to theft. According to the Greeley Tribune, more than $250,000 disappeared from a Weld County rig last week. Along with machinery, laptops containing valuable data are a common target of theft, which ...

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Judge lets North Dakota oil patch overtime lawsuit proceed

FARGO, N.D. — A lawsuit accusing oil-services company Schlumberger Ltd. of failing to pay overtime wages in North Dakota’s oil patch can move forward, a federal judge says. Judge Ralph Erickson’s ruling, released Monday, grants conditional class-action status to the suit filed by a former employee of Houston-based Schlumberger, which provides technology and other support services for the oil and ...

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Theft, other charges filed

police lights

Texas Rangers recently arrested five people in Laredo for allegedly stealing about $500,000 worth of oilfield equipment, according to court documents. State authorities identified the suspects as David Roberto Vela Sr., 52, David Roberto Vela Jr., 28, Esperanza Vela-Valdez, 53, Marco Antonio Garcia, 41, and Javier Cantu, 44. The Velas, Vela-Valdez and Cantu were charged with theft, tampering with physical ...

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