In the business of mineral drilling exploration, one needs to have access to drilling rigs for sale in Australia. Drill rigs and the right pieces of equipment for the job is of paramount importance to winning and completing contracts, and eventually earning money.
Buying and the acquisition of a new drill rig is a major decision to make. With that, there is a manifold of variables that need to be taken into account.
The million-dollar question we have here is “Is buying a drill rig sale practical with respect to the current financial standing of my business? Will it help my company rake in more money? Or is it the other way around, costing you more to own as opposed to other options that can get the same job done for less
The vast majority of drill rigs for sale in Australia, in the recent economic downturn, had been remaining idle for some time already.
This is the reason why their important parts and components are pretty easy to cannibalize when necessary so that they can be kept actively working and running.
The drillers then had their rigs fixed without even thinking of investing in new drill rigs. Now that the market has recovered, drilling contractors are involved in making relevant decisions regarding their fleet – if they should work on rebuilding their idle rigs or if they need to buy new ones instead.
Normally, seasoned operations managers know which parts and components of their drill rig equipment are needing replacement soon. They are also able to make a fairly accurate guess as to how much it would cost them to rebuild their fleet drill rigs.
If the overall costs for rebuilding are somehow in close range to how much they need to shell out to buy instead of a brand new drill rig, a full-blown audit would be necessary. Such may include evaluating the spare parts they have on stock, inspecting the drill rigs, and verifying maintenance records.
Doing these measures would give them a fairly accurate cost comparison to how much it would take them to get them working again.
It is not all about the costs alone. There are many other things you need to factor in such as whether the drilling firm has the luxury of time or not, as well as if they have the necessary capabilities and talent to perform an overhaul work on a drill rig which has seated idle for a long time.
An overhaul work may take about 3-4 months to complete. It may also require tooling, facilities and a labor pool of mechanics as well as technical know-how to get them (drill rigs) mobilized for new drilling projects and contracts.
Regardless if you are trying to look for a brand new drill rig or rebuilding an old one, the improving market allows you to anticipate longer lead times. However, if the market is on the low, manufacturing plants are not as preoccupied with building new rigs, inventories are higher, and lead times are reduced.
While the market is continuously improving with an increasing number of contracts, plants would be preoccupying themselves in building more rigs, inventory is lower, and lead times are on the rise.
Ultimately, with respect to the manufacturer, lead times will be varying.
3. New Technology
If you happen to own an older fleet drill rig, the acquisition or the purchase of a brand new one will allow you to productively drill more. It makes sense that newer rigs are more efficient, and are thus more productive.
They provide you with more reliable uptime, and more safety features are squeezed into it compared to older rigs.
With the increased safety requirements for a mine site, a brand new rig will be of substantial help for you to meet those requirements on safety where older rigs would fail to meet, causing the drilling contractor to lose a project or contract award.