Blog · Territory, capacity and quota planning · Oil and gas services
How an oilfield services or equipment rental company measures utilisation of its fleet per equipment class per basin from the rental ledger and the fleet register, the operators whose rental days fell against their own history while their activity did not, the idle classes in one basin that another basin is short of, and the identity that ties rental days to invoiced rental revenue.
An equipment rental company's fleet manager knows utilisation by feel and by basin. The rental ledger and the fleet register can compute it per class per basin, reconcile it to invoiced revenue, and show the operator whose rental days halved while its rig count did not. This guide sets out utilisation, the operator trend against activity, the cross-basin redeployment, and the identity.
Per equipment class, per basin, per month:
Utilisation = rental days ÷ available days Available days = Σ units × days − maintenance days − transit days
Per operator:
Rental days this quarter against the trailing four, beside active rigs this quarter against the trailing four Lost share signal if rental days fell by more than a stated margin beyond the fall in rigs
Across basins, per class:
Idle units in a basin under a stated utilisation, against demand in a basin over a stated utilisation
Operator identifiers only.
Σ rental days × rate = invoiced rental revenue, per period, within a stated tolerance for adjustments
A contract with rental days and no invoice, or an invoice with no contract, fails it and is listed.
| Class | Basin | Units | Available days | Rental days | Utilisation |
|---|---|---|---|---|---|
| Pumps, class A | Basin North | 40 | 1,120 | 1,030 | 92% |
| Pumps, class A | Basin South | 36 | 1,010 | 410 | 41% |
Twenty units of the same class idle in the south while the north turns work away. At the north's utilisation and rate, less transit, the redeployment is worth a stated figure per month, and the report shows it.
| Operator | Rental days now | Trailing 4 avg | Change | Rigs now | Rigs trailing 4 | Change | Reading |
|---|---|---|---|---|---|---|---|
| 2207 | 380 | 720 | −47% | 11 | 12 | −8% | Lost share |
| 4471 | 210 | 400 | −48% | 4 | 8 | −50% | Activity fell |
| 9034 | 610 | 590 | +3% | 9 | 9 | 0% | Steady |
Operators 2207 and 4471 both halved their rental days. One is drilling almost as much as before and renting from someone else; the other stacked half its rigs. The report separates them, and only one is a sales call.
Utilisation from the fleet manager's count. Not reconciled to revenue; wrong in the direction of optimism.
Maintenance and transit counted as available. Utilisation understated; the fleet looks bigger than it is.
Operator trend without activity. Every operator in a downturn looks like lost share.
Basins reported separately. The idle units and the shortage are in two reports.
Mapped once, the rental ledger, the fleet register and the activity data produce utilisation per class and basin, the operator trend against activity, the redeployment list and the identity every month. Covirage builds this from the exports as they are. The oil and gas page describes the setup, and the activity-weighted coverage guide covers the activity data the operator trend relies on.
Fleet units in the class and basin times days in the period, less units down for maintenance or in transit, from the fleet register's status history. A unit counted available while it was in the workshop makes utilisation look worse than it is; a unit in transit counted on rent makes it look better.
By putting the operator's rig or permit count beside its rental days. An operator whose rigs fell and rental days fell in proportion has less to rent for. One whose rigs held and rental days halved is renting from someone else.
Idle units in the surplus basin times the rate and the utilisation the shortage basin is achieving, less the transit cost. It is an estimate at stated assumptions, and the report shows it as one.