Drilling Equipment Asset Management Tips

Drilling equipment asset management refers to the procedure used by operators, facilities, and staff to keep track of all their equipment and ensure that every part is accounted for. This management procedure is crucial for the business.

It allows a company to analyze capital, pare down and focus on assets that produce the most value and provide strong returns.

Below is a detailed list of drilling equipment asset management tips.

Preventative Maintenance

Preventative maintenance tops the list of the drilling equipment asset management list. It is a schedule of inspections, repairs, and adjustments performed before the equipment fails. This reduces the downtime and costs associated with those failures. The frequency and type of preventative maintenance will vary based on your particular needs:

  • The size of your fleet or dozens of pieces of gear to maintain every year. Consider selecting one piece at a time. This will save you from disrupting production and not cost too much money out-of-pocket for your company or client.
  • Your budget. Consider working on a friendly budget whereby, instead of hiring specialized technicians for individual machinery, hire one technician who will conduct general inspections from time to time.

Employee Training

If your employees do not know how to use their equipment properly, they’re likely to cause damage or get hurt.

The first step in creating a successful employee training program is identifying what areas each type of employee needs to be covered and giving them proper and thorough training in that particular area.

Maintenance Reporting

To ensure maintenance is being carried out, you need to track it. The best way to do this is through a simple database with a checklist of items to be checked and maintained regularly. This can then be linked together with other databases containing information about what each piece of equipment should look like, whether it’s working properly, and who owns it.

You can also use this system for reporting problems or requirements for upgrades or repairs. The data collected from these systems allow companies to identify signs of impending failure before they happen, enabling them to schedule maintenance work before major accidents occur. For example, suppose a fuel tank shows signs of corrosion on its interior walls. In that case, it may be time for a more thorough inspection before performing any repairs, upgrading, or replacing the tank.

Equipment Monitoring

Equipment monitoring is gathering data from your drill rig to determine its performance and health. This information can help you identify problems before they occur, avoid costly downtime, and improve efficiency.

There are several types of equipment monitoring systems available today:

The optical sensors – These sensors measure vibrations based on changes in light intensity. These sensors are usually attached to rotating parts like the pump driveshaft or motor. This helps in getting a visual representation of how fast it’s spinning and any excessive movements that may indicate wear or damage.

The accelerometers – Accelerometers measure vibrations based on changes in acceleration (or deceleration). They can detect equipment damage earlier than optical sensors because they respond more quickly – though their response time may not be as accurate since it depends largely on where they’re mounted on the rig itself. You’ll want at least two accelerometers mounted at opposite ends of your drilling rig to give you an accurate picture of what’s happening with all your components during operation.

Understand each piece of machinery

Before you start using your new equipment, please get familiar with it by reading the manual and understanding its functions. This will help you track how long it takes to complete each task and make sure that everything is running.

Takeaway Points

A poorly executed drilling equipment asset management program can result in costly accidents that cause injury or even death. For example, if a crane breaks down while lifting smoothly, Points.

Having a reliable and efficient drilling equipment asset management routine will save time and costs across the board. It might seem expensive to fund the maintenance cost, but it will come in handy later by upgrading the performance and efficiency of your machinery by continued use. You will save both time and money by ensuring that your equipment is ready for use when you need it.

Start your drilling equipment asset management routine today.

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