Top Companies in the Oilfield Equipment Rental Industry

The global oilfield equipment rental market size reached US$ 25 Billion in 2023. Oilfield equipment rental refers to the facility of hiring equipment for a predefined period to extract and drill oilfields. These services provide various products such as pressure and flow equipment, pumps, valves, tubes, drill bits, wireline tools, blowout preventers (BOP), artificial lift systems, and services required for drilling wells into the subsurface and extracting crude oil. They are also cost-effective and convenient as they reduce the cost of acquisition and maintenance compared to the traditional practice of purchasing oilfield equipment.

As per the analysis by IMARC Group, the top oilfield equipment rental companies are offering machines with innovative features, such as horizontal and directional drilling, which can be attached with a mud motor and Universal Bottom Hole Orientation (UBHO) equipment. They are also engaging in collaborations and partnerships to expand their consumer base. For instance, Technip FMC recently entered into a five-year surface technology frame agreement with Chevron, under which the company will supply surface wellhead equipment and services in the United States and Canada. Looking forward, IMARC Group expects the market value to reach US$ 34 Billion by 2032, exhibiting a CAGR of 3.4% during the forecast period (2024-2032).

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List of Top Oilfield Equipment Rental Companies in the World:

Ranger Energy Services (Basic Energy Services Inc.)

Establishment: 1992
Headquarters: Texas, the United States
Website: https://www.basicenergy.ph

Ranger Energy Services, Inc. provides onshore high-specification well service rigs, wireline completion services, and complementary services to exploration and production companies in the United States. The company acquired all the assets from Basic Energy Services in 2021 to expand its operation across Texas, New Mexico, Oklahoma, and North Dakota.

Bestway Oilfields

Establishment: 2001
Headquarters: Dubai, the United Arab Emirates
Website: http://www.bestwayoge.com/

Bestway Oilfields provides a complete range of fabrication and maintenance of process piping systems to the power, process, and oil & gas industries. The company also supplies steel pipes, fittings, flanges, valves, and other piping materials to offshore and onshore petrochemical, drilling, marine, and energy industries.

Circle T Service & Rental Ltd

Establishment: 1963
Headquarters: Alberta, Canada
Website: https://circletrentals.com/

Circle T service and Rental Ltd. provides oilfield equipment rentals for drilling, completions, and workovers in the oil and gas industry. It offers an expansive inventory of specialized equipment and tools such as swivels, accumulators, tanks, gauges, BOP rams, choke manifolds, flanges, valves, tubular, and other miscellaneous products. The company uses innovation, engineering, advanced technology, and quality-controlled manufacturing processes to provide the industry's most efficient and cost-effective oilfield tools. 

Ensign Energy Services Inc.

Establishment: 1987
Headquarters: Alberta, Canada
Website: https://www.ensignenergy.com/

Ensign Energy Services Inc. and its subsidiaries provide oilfield services to the crude oil and natural gas industries in the United States, Canada, and internationally. It offers intermediate, shallow, and deep good drilling and specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam-assisted gravity drainage applications. The company is also well-known for drilling the world's first commercial well with a hybrid rig powered by natural gas generators and batteries.

Halliburton Company

Establishment: 1919
Headquarters: Texas, the United States
Website: https://www.halliburton.com/

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, completion and production, and drilling and evaluation. Besides this, the company owns many subsidiaries, affiliates, branches, brands, and divisions in more than 70 countries.

John Energy Ltd.

Establishment: 1987
Headquarters: Gujrat, India
Website: http://www.johnenergy.com/

John Energy is one of the leading companies catering to the upstream and midstream oil and gas industry in India. It also has a good name in onshore drilling, workover and completion services, and natural gas compression and conditioning services contractors. Besides this, the company has a rig fleet of 34 rigs comprising 15 workover rigs, 19 drilling, multiple gas compression packages, and gas conditioning equipment. 

Parker Drilling Company

Establishment: 1934
Headquarters: Texas, the United States
Website: https://parkerwellbore.com/

Parker Drilling Company provides contract drilling and drilling-related services, rental tools, and services to the energy industry. It offers rental equipment, such as standard and heavy-weight drill pipes, tubing, drill collars, blowout preventers, well construction services, well intervention services comprising whipstock, fishing products, and inspection and machine shop support services for exploration and production companies, drilling contractors, and service companies on land and offshore.

Schlumberger Limited

Establishment: 19276
Headquarters: Texas, India
Website: https://www.slb.com/

Schlumberger Limited provides technology for the energy industry worldwide. It operates through four divisions, namely digital and integration, reservoir performance, well construction, and production systems, where it offers asset performance solutions, open and cased-hole services, exploration and production pressure and flow-rate measurement services, well stimulation, pressure pumping, coiled tubing equipment, reservoir monitoring, downhole data acquisition, and integrated production systems. Presently, the company provides its products and services in more than 120 countries across the globe.

Patterson-UTI Energy, Inc. (Seventy Seven Energy Inc.)

Establishment: 1978
Headquarters: Texas, the United States
Website: https://patenergy.com

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators across the globe. It offers pressure pumping, contract drilling, and directional drilling services in Texas and the Appalachian region. The company acquired Seventy-Seven Energy Inc. in 2017 to strengthen its position as a leading high-spec drilling company and gain one of the largest and most modern pressure pumping fleets in the industry.

Superior Energy Services Inc.

Establishment: 1991
Headquarters: Texas, the United States
Website: https://superiorenergy.com/

Superior Energy Services, Inc. is engaged in the provision of oilfield services and equipment. It serves the rental and well-servicing needs of oil and gas companies worldwide through a portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. Presently, the company operates through drilling products and services, onshore completion and workover services, production services, and technical solutions.

TechnipFMC plc

Establishment: 1884
Headquarters: London, England
Website: https://www.technipfmc.com

TechnipFMC plc is engaged in oil and gas projects, technologies, and systems and services businesses in Europe, North and Latin America, the Asia Pacific, the Middle East, and Africa. The company was formed by the merger of FMC Technologies of the United States and Technip of France. It operates in segments: subsea, offshore/onshore, and surface projects that include offshore oil and gas exploration and extraction platforms, rigs, crude oil refineries, petrochemical plants, and onshore and floating LNG plants.

Weatherford International PLC

Establishment: 1941
Headquarters: Texas, the United States
Website: https://www.weatherford.com/

Weatherford International plc is a multinational oilfield service company and one of the largest companies in the world in oil services. It provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. Currently, Weatherford conducts operations in over 75 countries and maintains service and sales locations in virtually all the major oil and natural gas-producing regions globally.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has successfully done multiple projects in the oilfield equipment rental industry, which has enabled clients to set up and expand their businesses. Some of the company's offerings include:

• Market Research
• Plant setup
• Plant Expansion
• Marketing and sales
• Procurement and Distribution
• Innovation and Product Development