The oil industry always has a lot of ups and downs. The fast pace at which the market operates means what was profitable one day is now costing you money to operate. After the slump of the past couple years, the industry and market is finally recovering with market projections looking favorable. But is your business in a good place to take advantage of the change in the industry? We’ve gathered some information on how using our oilfield equipment classifieds help you take advantage of this growth without risking everything.
Grow with industry recovery with our oilfield equipment classifieds
Whether you’re an engineer, driller, roughneck or owner, there’s no doubt that the past few years have been difficult to say the least. Low barrel prices have changed the outlook for many companies, with buy outs and liquidation auctions being pretty common. This shift to bare-bones operation after years of booming business has stripped many businesses of the equipment they need to take advantage of the upcoming growth. After 2016’s settling and tough decisions, 2017 is predicted to be the start of a long road back to profitability, according to a recent Deloitte study. President Trump’s promises to encourage domestic energy production is starting to gain ground as he keeps the promises he made on the campaign trail.
Unfortunately, many businesses had to sell excess equipment while the market was down and don’t have it on hand to start ramping up production. With the volatility that is standard to the fossil fuels market, taking out a large business loan to purchase new equipment can seem like too much of a risk, especially as business loan qualification has been tightened down over the past few years. How can you get the equipment you need to get underway without breaking the bank?
You could go to an oilfield auction, but you’re probably going to end up paying top dollar for equipment that may have already seen its better days. You can take out that business loan and hope against hope that the market remains stable long enough for you to get the equipment paid off before you lose profitability. You could rent the equipment, but by doing so, you’re not gaining any equity in the equipment, just shelling out money month after month. You may not even be able to find the equipment you really need locally, forcing you to settle for second best and machinery that will constantly have issues because it’s not designed for the workload you need from it.
A better option to consider is our oilfield classifieds. Because our website focuses strictly on professional-grade equipment, you won’t have to wade through tons of ads for someone’s Furby collection or listings for oil machines that extract peanut oil in the kitchen. You can place an ad for the exact type of equipment you need and be contacted by parties with prospective equipment.
As the market continues to rebound, getting quality used equipment provides you with assets while you take advantage of the growth. This allows you to expand earlier than your competition and gives you additional assets when you need to take advantage of future opportunities. Our oilfield equipment classifieds can help you find the right equipment to get your crew working again. Why not register and see what’s available or place a want ad to find the right equipment for your business today?