Developing Your Property

If you own a new oil exploration company and are in the planning stages of setting up your first remote oil field, then you will be pleased to learn there are many ways to save money on the heavy equipment you need to rent. By taking a careful look at the machinery your oil field will need and shopping around for the best oil field rental company, you will save your new company a ton of money. To this end, follow these tips to save money on your oil field's heavy equipment rentals:

Tip: Save Money by Consolidating Equipment if Possible

When you sit down and make a list of each piece of heavy machinery your oil field needs, try to consolidate the pieces you need as much as practical. For example, if you need to do trenching work, then decide if you need a dedicated trencher or if you can get away with using an attachment on the rented excavator.

Tip: Compare Quotes and Use Them to Get Your Company the Best Price

One you have decided on a list of all of the necessary heavy machinery you will need for your new remote oil field, then you must shop around and get as many written quotes as possible. It is vital you get the quotes in writing because this allows you to lock in your rental price and it also allows you to use one company's quote to negotiate a lower price from another company.

For example, suppose Rental Co. A offers you a great price on all of your excavators, but their price for fracking tanks are very expensive, then you can show them Rental Co. B's quote showing how you can rent your fracking tanks from them for a much lower price. The written quote from Rental Co. B will help you get a better price from Rental Co. A. 

Tip: Save Your Budget by Renting All of Your Oil Field's Heavy Equipment from the Same Rental Company

Finally, since you have many different options for heavy equipment rentals, consider renting all of your oil field's necessary equipment from the same rental company. You can often get a volume discount by renting a large number of machines all from the same business. In addition, some rental companies that specialize in remote oil fields can also rent your buildings and sleeping quarters. Ultimately, the more equipment and supplies you get from a single provider, then the less of a dent the expenses will put into your new oil exploration company's budget.