Uh, where is this mythical business?? I spent 35 years in the drilling business, absolutely no manufacturer would ever even consider financing or leasing a rig. The business, by nature, is too cyclical. They sure as heck do not want the risk of taking back a rig that may now be worth 10% of what it was just 2 years ago ( that really happened in the early 80's).
We are way off the tracks and out in the weeds here, but I guess that be what we do.

Interesting. Could the spike in sales showing for Jan 2025 actually represent airplanes where the money changed hands before the end of the year? (At the risk of merging this back into the epic depreciation discussion.... ) It looks like a bunch of airplanes were swept off the market at the end of the year.

Uh, where is this mythical business?? I spent 35 years in the drilling business, absolutely no manufacturer would ever even consider financing or leasing a rig. The business, by nature, is too cyclical. They sure as heck do not want the risk of taking back a rig that may now be worth 10% of what it was just 2 years ago ( that really happened in the early 80's).
We are way off the tracks and out in the weeds here, but I guess that be what we do.

Banks wouldn't touch my most profitable ventures with a ten foot stack of ones when I started them.

Banks don't like risk above and beyond what has already been proven.

The most profitable ventures are unproven. If it was easy and obvious, everyone would do it.

Any prospective client who walks in with a "can't miss" idea is one who hasn't thought it all the way through.

There are no sure fire ideas any more. If you think you have one no else is doing, it is because it either doesn't work technically, or other people have tried and failed before you.

About 75% of my new client inquiries are sent home with a fistful of patent citations for others who beat them to it, and/or links to websites selling what they want to invent already.

Mike C.

Banks don’t want to worry about high risk, high reward ventures. They want the no risk, make payments on time and expand the relationship over time ventures.

That doesn’t sound like oil rigs to me, but wtfdik?

When my business really needed money, banks wouldn’t talk to us, because we didn’t have any significant revenue or backlog. When we had revenue and backlog, we didn’t need banks. its a huge gap in the financial landscape for startup technology businesses. And why vulture capital thrives.

Uh, where is this mythical business?? I spent 35 years in the drilling business, absolutely no manufacturer would ever even consider financing or leasing a rig. The business, by nature, is too cyclical. They sure as heck do not want the risk of taking back a rig that may now be worth 10% of what it was just 2 years ago ( that really happened in the early 80's).
We are way off the tracks and out in the weeds here, but I guess that be what we do.

My last 15 years was in waterwell, and did a small bit of geothermal. What rigs are you manufacturing?

Hey Chip, can you provide those plots for Bonanzas, too, please? Curious about the state of singles. I can see where piston twins are undesirable in the current world order.

Every 4 years something happens which causes a wave in asset sales. If we could just make a connection…. :D

There are millions and millions of unused factory workers idle in the USA just waiting for factory jobs they can spend their entire career doing, and their kids and grandkids, too.

Or so I was told by the Sec of Commerce Lutnick.

So you should be able to find the workers, right?

Now if only the people buying your drills could expense them instead of having to pay income taxes on the undepreciated value. That would help sales!

Mike C.

Hey Chip, can you provide those plots for Bonanzas, too, please? Curious about the state of singles. I can see where piston twins are undesirable in the current world order.

My last 15 years was in waterwell, and did a small bit of geothermal. What rigs are you manufacturing?

This is one of the great things about BeechTalk.

Pilot A: "Let's say you're building a drilling rig..."


Pilot B: "I've built drilling rigs for 3 decades. What do you want to know?"

Neat.

In 2013, I had 32 wells drilled for my geothermal field. 2 miles of drilling, 4 miles of pipe, all underneath my future building built on top of the field after it was done. The drill rig cut through rock like it was butter, doing about 1 or 2 feet per minute. I was amazed.

Cost, with pipe insertion and grouting (but not the pipe itself) was $52,800 back then, basically $5 per foot.

Works fabulously. No leaks. I heat and cool my 35,000 SF building for $250/month.

Mike C.