1. CME 550X Purchased For Off-Shore Subsurface Investigations

    January 30, 2019

    Thompson Engineering is a reputable engineering company that provides a vast array of geotechnical drilling services. In 2011 Thompson Engineering expanded their offerings to the off-shore market and came to rely on the use of a CME 550X drill rig for its quality and performance while collecting Shelby tube and split spoon samples. When Thompson Engineering’s existing rig broke down, they turned to Rig Source for a replacement rig that would continue to fit their enduring off-shore drilling set up.

    “Rig Source was a great outlet for finding a drill rig replacement. They had the exact CME 550X model we were looking for, and it was already refurbished and ready for operation which minimized downtime,” expressed Stan White, senior chief driller at Thompson Engineering.

     

     Prior to its sale, Rig Source had performed full maintenance and repair on the CME 550 which included a new clutch and hoses, full service of fluids and filters, right angle drive and rotary box rebuilds and more. “The wireline winch that was included was an essential feature for us due to its quick operation and thin cable line which fit into our HWT casing,” explains White. After all repairs were complete on the rig it was then tested to ensure everything was fully operational. “When we commit to refurbishing a rig, we inspect every aspect of the rig and repair or replace features as needed to bring the unit back to like new condition,” says Chris West, service manager at Rig Source.

    In addition to its features, the refurbished CME 550X offered the same size footprint as Thompson Engineering’s former rig. Sticking to the same drill rig model was ideal because the rig would then fit the existing cantilever, harnesses and straps, and tooling that were customized to the footprint of a CME 550X. “For off-shore drilling we have to mobilize the rig on a barge and we do that by placing it on a cantilever. It’s extremely important that the rig we use fits the cantilever securely out over the water,” explains White.

    Off-shore subsurface investigation is challenging and having a reliable drilling rig provides drillers the security to efficiently and safely tackle projects. “We felt very confident and comfortable buying from Rig Source. They were extremely knowledgeable and forthcoming about the work done on the CME 550X and it’s been a great addition to our fleet,” exclaims White.



  2. Rental Geoprobe with Core Package

    July 31, 2018

    We’ve expanded our direct push rental inventory to include a Geoprobe 7822DT with core package. It’s the same great Geoprobe model with the added benefits of the core package for increased versatility and ease of transport to jobsites. As a reputable supplier of Geoprobe units we’re proud to stay on top of industry trends and excited to extend this new Geoprobe rental offering to our customers.

    The 7822DT is a preferred Geoprobe model for its size and adaptability. 7822DT models are fully operational by remote control and have narrow platforms making them extremely mobile and ideal for projects with limited access. The added core package extends the 7822DT’s capabilities with a 4-speed head that adapts to various ground densities. The added break out table, water swivel and water pump amplify the use of the 7822DT for coring by simplifying the drilling process and eliminating the need for purchasing specialty equipment. Together the 7822DT with core package delivers capabilities equivalent of larger track mounted drills but with greater flexibility.

    Added Benefits of Geoprobe’s Core Package Include:Geoprobe 7822DT with Core Package
    • High speed head
    • Rod clamp
    • Water swivel and hose kit
    • Feed system regulator
    • Wireline winch
    • Rotary core options

    For more information on our new rental Geoprobe 7822DT with core package please contact Rig Source at 630.365.1649.



  3. Schramm Inspection & Repair

    May 31, 2018

    As an industry leader in drill rig repair and refurbishment, Rig Source was excited to work alongside Schramm last week as they performed a complete inspection of a used Schramm T450WS rig. Committed to customer satisfaction, Rig Source facilitated the partnership with Schramm to give this Schramm a thorough once over for OEM certification while also using it as an opportunity to augment our team’s knowledge of Schramm rigs for future projects. 

    All new Schramm rigs receive a manufacturer’s certification prior to leaving Schramm’s facility to ensure products comply with industry regulations and are safe to operate. Once a unit is sold, it is then up to the owner to care for and protect the drill rig from receiving modifications in the field. Units can be safely repaired while maintaining structural integrity, but the original structure should never be modified.

    Eric Mosley, Director of Aftermarket at Schramm states, “When a rig is sold through a third party, there is always a possibility the original build had been altered during use so it’s imperative the rig be reassessed. Many jobsites require the inspection as a safety precaution prior to operation in the field.”

    Being that Rig Source is a third party drill rig provider, we are grateful to work with this manufacturer as safety is always a priority when repairing and refurbishing our used rigs. Schramm’s OEM certification of its T450WS consisted of a complete examination of each rig segment, an engineering review and fluid testing. Upon completion, Schramm personnel performed a test hole as well as other functions to substantiate the rigs functionality. The ability to work directly with Schramm on the inspection process safeguards that both the rig and our work are completed to OEM standards.

    For more information on Schramm inspections or to schedule an appointment for rig maintenance please give Rig Source a call at 630.365.1649.



  4. Rig Source Expands Drill Rig Offerings

    April 9, 2018

    Rig Source is excited to announce the addition of Geoprobe sonic rigs to our sales offerings. Rotary sonic drills are ideal for geotechnical, environmental, geothermal and exploration projects, and deliver faster production rates, reduce waste, increase reliability and provide superior sample quality over conventional drilling methods. The first sonic rig available at Rig Source is a used Geoprobe 8140LC.

    “We see the market moving towards sonic rigs and we’re excited to add the used Geoprobe 8140LC so we can continue providing customers cutting-edge drills at affordable prices,” states Matt Slater, Director of Sales at Rig Source.

    Sonic drilling is a modernized advanced soil penetration technique that uses vibrations to reduce friction on the drill string. Vibrations both loosen surrounding soils and give sonic rigs the ability to cut through dense layers of rock.

    Geoprobe 8140LC Sonic Rig

    Rig Source Sells Geoprobe 8140LC

    The used Geoprobe 8140LC for sale through Rig Source is a mid-sized sonic rig delivering full rotary capabilities and is equipped with an exclusive Geoprobe sonic head and 5 ft. stroke for low clearance access. The sonic head on the 8140LC model provides full rotation with an oscillator frequency of 0-130 Hz for enhanced drilling efficiency.  The swing arm control panel delivers variable speed controls affording operators the ability to adjust vibrations based on the ground conditions they’re working in.

    “You don’t need to operate at full speed all the time. Once you find the sweet spot, the Geoprobe 8140LC cuts just like butter,” confirms Chris West, Mechanic at Rig Source.

    Featuring an Integrated Systems Display, the 8140LC delivers real-time system analysis and an assortment of diagnostic tools. “The computer diagnostics are incredible and simplify maintenance. Everything is right there on the screen and allows segmentation of hours on the head verses hours on the overall machine,” adds West.

    Service & Support

    West is just one of Rig Source’s mechanics that visited Geoprobe’s headquarters last month to receive technical training on the 8140LC sonic rig.

    “Training our mechanics on the technical aspects of sonic rigs was of utmost importance to us before extending sales to customers. Our service and support extends past equipment sales so training was imperative to confirm we could continue to provide that same level of service on sonic drills,” states Slater.

    Whether you’re just starting to look into sonic rigs or already familiar them, Rig Source is excited to support your needs. For more information on Rig Source’s Geoprobe 8140LC sonic rig, please contact a member of our sales team today at 630.365.1649.



  5. Drill Rig Financing Options

    March 10, 2017

    There are plenty of ways to go about financing your drill rigs, but which option is going to help you best achieve your overall business goals? To answer this question, it is pertinent that you first understand the ins and outs of the various financing options offered from lenders. From there, you will be able to make an educated decision that not only fits your budget but aligns with your company’s strategic plan.

    Jake Rockafellow, Rig Source’s Controller outlines below two of the most common finance options typically offered for drill rig purchases. Take a minute to review each lease option for a better understanding of the terms, pro’s and con’s.

    Option 1: Full Payout Leases (Capital Lease)

    This lease allows buyers to finance 100% of the drill rig purchase price including freight, taxes and extended warranties. The buyer owns the drill rig at the conclusion the lease.

    • Pro’s:
      • Buyer has full ownership of the drill rig upon maturity of the lease
      • Tax advantages:
        • Monthly interest payments are tax deductible
        • Depreciation expense is tax deductible
    • Con’s:
      • Higher monthly payments compared to a fair market value lease (outlined below)
    Option 2: Fair Market Value Lease (Operating Lease)

    This lease allows the end user to finance less than 100% of the total purchase price including freight, taxes and extended warranties. The end user DOES NOT own the drill rig at the conclusion of the lease.

    • Pro’s:
      • Lower monthly payments compared to full payout leases
      • Payments are “moldable” to meet the end user needs
      • Improved profitability and cashflow
      • Monthly payment is tax deductible
    • Con’s:
      • Early termination fees could apply if the lease is terminated prior to its original maturity
      • Additional costs could apply upon return of the drill rig to the leasing company if more than normal wear and tear is present

    Still not sure which route to take? Try looking at the sample drill rig purchases to see a side by side comparison.

    Rig Source Finance Infographic

    As a final note, “keep in mind that drilling is a fairly niche industry, and not all finance companies are familiar with drill rig sales. Be sure to take your time, search and even ask your drill rig supplier for finance recommendations,” states Rockafellow. Reputable drill rig suppliers typically have excellent partnerships with lenders, who are educated in drilling equipment, and are more likely to extend a financing offer to your company. For more drill rig financing information, please give Rig Source a call at 630.365.1649. We have over a decade of experience getting new and returning customers alike into the drill rigs of their dreams.



  6. End of Year Savings

    November 15, 2016
    Section 179 and Bonus Depreciation Available for 2016 Purchases

    Do not let the year slip by without taking advantage of special tax benefits on new and used equipment purchases. Both Section 179 and Bonus Depreciation have been approved for a limited time through December 31, 2016. In order to qualify for these tax breaks, you must purchase or finance your equipment by December 31, 2016.

    Rig Source has a complete inventory of drill rigs and crawler carriers ready to start working on your next jobsite project. We offer sales on both new and used equipment in order to meet the needs and budget of every customer. Within our own shop, we specialize in servicing the industry leading, brand name equipment you’ve come to rely on, and even work direct with manufactures on customizations. Our dedicated sales team is knowledgeable in every type of drilling and can work with you to build a rig to suit.

    Understanding The Benefits

    2016 Deduction Limit = $500,000

    • This deduction is good on new and used drill rigs or crawler carriers, parts and other business assets.


    2016 Spending Cap on Equipment Purchases = $2,000,000

    • This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis.

    2016 Bonus Depreciation = 50%

    • Bonus Depreciation is only available on new equipment, and is generally taken after the Section 179 Spending Cap is reached.

    Section 179 and Bonus Depreciation Chart

    At a 35% tax rate, tax savings would be $206,500.00 ($590,000 x 35% tax rate)

    For more information on equipment eligible for Section 179 or Bonus Depreciation tax credits, give Rig Source a call at 630.365.1649.

    *For more information regarding the details of Section 179 and Bonus Depreciation, please contact your local government agency and tax advisers.



  7. MINExpo 2016

    September 15, 2016
    Minexpo LogoUncover Rubber Tracked Mining Applications

    Rig Source is scheduled to accompany crawler carrier manufacturer, Terramac, LLC to the International MINExpo tradeshow. The show takes place on September 26-28 in Las Vegas, Nevada. You will find us in the Central Hall – Booth #4639, we can easily be spotted by Terramac’s unique 360° rotating crawler carrier on display. MINExpo is considered to be the largest mining equipment and service exhibition in the world and draws in thousands of exhibitors and attendees from within the industry.

    For over a decade Rig Source has been actively serving the mining industry by providing new and used mineral exploration drill rigs as well as service and support. We pride ourselves on the ability to customize drills to meet customer needs. Track mounted mining equipment reduces the ground pressure exerted and allows equipment to access confined jobsites or problematic terrain with ease and without damaging sensitive ground. Rig Source began utilizing Terramac crawler carriers for track mounting drills due to the unique chassis design, simplistic approach to customizations and outstanding service, support and parts availability. Since, we’ve been able to expand our services to the mining industry by offering additional track mounted mining support equipment for mineral exploration, dam and levee work, settling pond construction, site maintenance, water-way and land restoration, tailings pond management and dust control.

     

    MINExpo only comes around once every four years so you won’t want to miss this opportunity! For more information on how to find us at MINExpo, give Rig Source a call at 630.365.1649 or add Booth #4639 to your exhibitor list using MINExpo’s Online Show Directory.



  8. 2016 NDA Convention

    September 8, 2016

    Come network with Rig Source at the National Drilling Association’s annual convention being held in Pittsburgh, Pennsylvania on September 15-16, 2016.

    Rig-Source-NDA-Convention-Reminder

    The National Drilling Association is a non-profit trade association dedicated to the geotechnical, environmental and mineral exploration drilling industries. Each year the NDA hosts their annual convention which brings contractors, manufacturers and affiliated members of the drilling industry together to network, educate and promote the use of professional drilling contractors and their methods. As a long time member and dedicated supplier of geotechnical and environmental drill rigs, we are excited to extend an invitation to this annual convention to you.  Attending doesn’t require membership so whether you are already familiar or new to the drilling industry, you’re sure to benefit.

    This year’s agenda offers a full list of influential speakers from a variety of drilling backgrounds. Topics include everything from drilling safety and best practices to educational seminars on how to drill with various tooling and equipment. Depending on the state in which you work, the NDA Convention also qualifies for Continuing Education Credits. Adding to the excitement, the NDA has announced they’ll be unveiling their new association logo during Thursday night awards presentation. Rig Source will also be available throughout the convention to discuss your drilling equipment needs. We offer a diverse selection of drill rigs for sale and rent and go above and beyond to provide drillers exceptional service and support.

    For more information on Rig Source’s drilling equipment and services, give us a call at 630.365.1649 or get registered for the 2016 NDA Convention and stop by our booth to discuss.



  9. Changes to Pay Attention to in 2016

    February 5, 2016

    2016 Laws Expected to Affect Customers2016 marks a big year of change for laws that have potential to affect many of our drill rig and crawler carrier customers. New laws have gone into effect, and some previous laws are set to be enforced by the end of the year. As your trusted equipment supplier we analyzed these changes to determine how they could affect you. We want our customers to be fully informed so they can continue to make the best decisions and equipment purchases for their growing business.

    Section 179 – Bonus Depreciation

    First and foremost, are you aware of the latest changes to Section 179 tax deductions for equipment purchases? While Section 179 has been available in the past, the rules have changed. This year both the House and Senate passed “Protecting Americans from Tax Hikes Act of 2015” which permanently increased Section 179 tax deduction limits to $500,000, and extended 50% bonus depreciation through 2019. Prior to this law taking place, Section 179 was temporarily approved on an annual basis. The temporary re-approvals were nice, but they didn’t provide equipment buyers adequate time to complete equipment purchase transactions in time to qualify for the deduction. Therefore, the permanency of Section 179 is ideal for our drill rig and crawler carrier customers seeking to purchase equipment now and in the years to come. The new law gives buyers the time they need to plan and forecast equipment needs, shop for the right equipment, and feel confident the Section 179 tax deduction is going to be there for them.

    Oil Export Ban Lifted

    Forty years later, the US ban on oil exports has been lifted! This is exciting for our customers within the oil and gas and pipeline industries.  It is expected that this lifted ban will expedite a higher demand for the US to grow our oil transport infrastructure, and in return open up thousands of new job opportunities for industry members. Keep in mind environmental protection is still of utmost importance while we grow the US infrastructure so it is imperative for contractors to remain conscious of environmentally friendly practices while on jobsites. Taking action by utilizing heavy equipment like crawler carriers which are known for leaving behind some of the smallest environmental footprint is one way you can help protect the ecosystem.

    Tier 4 Emissions Standards

    The Environmental Protection Agency (EPA) introduced Tier 4 engine emission standards back in 2004, and has allowed a phase-in period for manufacturer compliance which is largely coming to an end in 2016. The purpose of the Tier 4 engine standards by the EPA is to reduce engine emissions in an effort to comply with stricter Clean Air Act guidelines. What you need to know as an equipment consumer is equipment already utilizing Tier 4 engines also comes with a heftier price tag. Additionally, Tier 4 engines may use different fuel which increases the amount of maintenance required to uphold the equipment. To date, many equipment manufacturers have already conformed to the new Tier 4 engine standards leaving it very difficult to come across Tier 3 equipment still in production.  However, there are some manufacturers like Terramac® who are still offer offering Tier 3 models through the remainder of 2016. Therefore, if you are looking to add to your equipment fleet, 2016 may be good year to do so in order to take advantage of Tier 3 options that will soon be no longer be available.

    *This is a brief overview of the laws that have potential to affect our customers this year. For more information regarding the details of these laws, please contact your local government agency and tax advisers.

    Sources:

    1. The Section 179 Deduction. (2016, January 1). Retrieved from http://www.section179.org/
    2. Speaker Ryan Press Office. (2015, December 15). Lifting the Oil Export Ban: By the Numbers. [Blog Post]. Retrieved from http://www.speaker.gov/general/lifting-oil-export-ban-numbers
    3. Associated Equipment Distributors. (n.d). Clean Diesel Technology For Off-Road Engines and Equipment: Tier 4 and More. Retrieved from http://www.aem.org/PDF/DTF_Tier4WP_FIN.pdf


  10. Core Drilling Rig Rental Fleet

    December 17, 2015

    As a leading core drill rig supplier for the mineral exploration market, we’ve seen firsthand how the market fluctuations are affecting you, and have adjusted our support to best suit your changing needs.

    Mineral exploration may be a volatile market right now, but don’t let that stop you from taking on core drilling jobs as they arise. It has been our experience that fluctuations in the core drilling market tend to run in cycles, but always find their way back to the top. There is a great deal of money to be made in the core drilling industry, but many core drillers must struggle through the industry lulls in order to experience the benefits of the markets booms.

    One of the most common grievances we’ve heard from our core drilling customers during periods when the core drilling market slows is the high cost associated with core drill rigs. To buy and adequately maintain a quality core drill rig for the varying projects won can be difficult when the frequency of incoming work is unknown. That said we’ve developed core drill rig rental options that are more cost effective for you in an unpredictable market.

    Core Drill Rigs for Rent

    With flexible rental terms available, we now offer Atlas Atlas Copco Core Drilling Rig RentalsCopco core drilling rigs for rent in two various sizes. The Atlas Copco CS1000 rig is the smaller of the two units, and is used for drilling depths up to 3,500 ft. while the larger, Atlas Copco CS14 unit will accommodate drilling depths up to 5,052 ft. Both drill rigs are equipped with PQ heads. (Various core drill rig tooling packages are also available from Rig Source.)

    *Depth capacity varies based on tooling selection. 

    To find more information on our core drill rig rental units available, give Rig Source a call today at 630.365.1649.