This month, "For Openers" discusses used rigs and reminds us Jubilee is quickly approaching.
One place where you can glean a whole bunch of information on used drilling rigs is right at your fingertips. In the typical “Marketplace” classified advertising section of National Driller, you'll find somewhere close to 500 used rigs being offered for sale - by fellow drilling contractors as well as distributors/suppliers. Most of the rigs listed do not include an asking price, but of the 15 percent to 20 percent of those that do list an asking price, the average figure is just a shade more than $100,000. You can do a lot of comparing and contrasting so you can make informed decisions during the shopping process.