- Definition: Rental Tools
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Not everything needed to drill a well comes from the drilling contractor or the oil company. Many times there are unique tools or devices that are used on an inconsistent basis that a drilling company does not provide. The oil company will rent these tools from a rental tool company. This is much like renting various tools by a homeowner to work on his house that he would not normally own. An oil company will rent reamers, stabilizers, mud-gas separators, PVT equipment, BOP’s, flanges, specialty drill pipe and drill collars, fishing tools, and other items. These items are no used every day and are provided by several companies on a daily rental basis. It is a profitable business and many companies have a supply of items that oil companies rent on an as needed basis. These companies are Quail Oil Tools (owned by Parker Drilling), Weatherford International (largest in the business), Knight Oil Tools, Superior Oilfield Services, Patterson Rental Tools, and many others.
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