Weyburn – When it comes to the tools and equipment service rigs need, CFO Rentals Inc. of Weyburn does their best to have it available.
CFO Rentals is locally-owned and operated by Darcy Carter and Greg Fortune. CFO began operations in August 2014 on a family farm southwest of Weyburn. They moved to their current location on Hwy 39 in Weyburn in October 2017.
Carter and Fortune are big believers in having sufficient inventory. Carter noted that generally inventories in the industry have decreased, not just locally, but with suppliers everywhere. “If you don’t have it, you can’t rent it.”
He found working with larger companies, one might only be allowed to stock limited quantities . But, he adds, “It’s easy for us to put stock on the shelves. When a customer needs it, we have it,”
That means having multiple quantities of saleables and rentals.
The inventory includes things like tubing handling equipment, such as elevators, wellbore cleanout packages, sand bailers, 4.5 inch handling equipment, and a wide selection of rod overshots. “We also have drill collars, heavyweight drill pipe, portable power swivels by Venturetech, casing scrapers and magnets,” he said.
CFO Rentals is always looking for opportunities to add new and innovative equipment to their rental fleet.
A recent offering is the rod coupling breakout tongs. Once rod collars are worn down to the point of needing to be changed, it allows those collars to be loosened without the need of rod wrenches, pipe wrenches and snipes. The tong, which is a similar size to rod tongs, can be flipped over to remove both ends of the collar within seconds. Like rod tongs, it has a two-lever operation, controlling the top dies and backup.
Although it can be put in the back of a pickup truck, the system typically comes on a small utility trailer and is completely self contained with its own power pack.
CFO will have four units; two are being utilized in the field, and two are in production.
“We’ve had absolutely positive feedback on every application,” he added.
“Our tools come with our knowledge and experience,” he said. Both owners have worked on service rigs and have over 39 years combined experience.
One business philosophy they follow is having a commonality of equipment and consistency in offerings. “We have committed to purchasing top quality equipment. Though years of experience and building business relationships, we have been able to determine who we believe to be the best suppliers for our equipment. We are purchasing identical equipment so as not have different styles of the same product. By doing this, the oil company, oil company representative, and rig crews will know the equipment they are working with every time we deliver our products.”
Their coverage currently includes south eastern Saskatchewan and western Manitoba, and they are looking to expand in other areas.
CFO Rentals is on call, 24/7. In addition to the two owners, they have two more employees.
When asked about the rest of 2019, Carter said, “The oil industry is always unpredictable, but we feel optimistic.”
Carter noted that wells generally need to be fixed. “The service rig industry is a good place to be.”