Don't make a too shallow decision based solely on the cost of investment. The following key factors should be taken into considertion when deciding whether to rent or own the casing tongs / power tongs.
Have you got the expertise?
Modern power tongs are very sophisticated high-end equipment. The remotely operated tongs can be specially designed for your rig. The tongs are easy to rig up, as long as you know what you are doing. The casing crews operating the tongs should be experts with long experience operating the tongs.
Can you read the torque correctly?
The power tongs comes with a computer based reading system. This is a delicate system capable of assisting the casing personnel in interpreting and approving the make-up. This reading requires trained and experienced personnel.
Can you do the maintenance?
The power tongs are subject to heavy use and the maintenance demands a specialized workshop. Your supplier should be able to help you whenever the need, wherever you are. Spare parts or new tongs must be available within hours, and you need predictable routines for regular service on the tongs. This might be a costly, time-consuming effort if the rig owns the tongs.
Do you focus on core business?
Given today’s high level of specialization required to operate much of the equipment, it is hard to keep up with the rapid development on the technical side of oil and gas production. The benefits of renting the tools means less need for expensive training of crews, less logistical challenges in keeping gear functioning and available and a limited liability that makes you able to focus on the primary target: Getting to TD on time.