The business surrounding hydraulic fracturing is booming like never before. For the service and rental companies in the oil patch who lease frac tanks and mud tanks, time is nothing but money. As the market gets more competitive than ever before,Geoforce is helping service and rental companies save time, labor and fuel costs with our dynamic tracking application and rugged GT-1 hardware.
One topic that hits home for most service and a rental companies is missed rental days. It’s huge when it comes to equipment (frac tanks in particular) that is being rented and off-site. When the driver is sent to pick up the tank he goes to the last known location which is written down in the service agreement. Many times, these locations can be over two hours away. With fuel and labor costs rising, companies charge anywhere from $90.00 to $130.00 per hour for transportation. If the tank has moved and the rental company was not notified (or it was not properly documented) the costs can add up fast.
Let’s add up the costs on a common scenario: A driver gets to the location and the tank is gone. He waits for an hour for someone to figure out where the tank is. They don’t find it, and he has to turn back empty-handed. The entire trip time totals six hours. 6 hours (x) an average hourly rate of $110.00 = $660.00 … And the tank has still not been picked up.
Bottom line: By eliminating just a single instance of the above, the entire cost of the Geoforce service has already been recouped! Now imagine having 1,000 tanks in your fleet and this happens 2% of the time – at least five times a year. In total that is 100 hauls and $66,000 of unrecoverable costs.
Other features of the Geoforce solution include: – Better billing verification with days on site reports – Easy asset location by rigs, well or custom GIS data – Maintenance and inspection management – Asset monitor utilization across full fleet – Integration with Geoforce dispatch for efficient tank retrieval With a software system that allows 24/7 up-to-date asset tracking, hardware that was built to survive in the oilfield and the years of experience we have in oil and gas, the Geoforce solution for service and rental companies is second to none.