Oilfield Equipment Appraisal (USPAP-Compliant)
USPAP-compliant oilfield asset value opinions built from closed-sale comps filtered by tech tier (Super-Spec vs. Legacy), emissions compliance (Tier 4/DGB), and configuration (Skid vs. Trailer).
Proven Oilfield Case History: Purchase Price Allocation (PPA), National SBA 7(a) collateral support, and complex M&A acquisition due diligence. (Proprietary market data synthesized from documented Super-Spec tech tiers, API 4F/8C certifications, and ASME U-Stamp compliance across all 50 states.)
Your appraiser: Rhett Crites. I review every quote request. Reply in 1 business day (usually faster).
From HeavyEquipmentAppraisal.com
USPAP-compliant equipment appraisals
What You Receive
A reviewer-ready oilfield equipment appraisal report you can hand to a lender, CPA, auditor, or court (without back-and-forth).
1. Reviewer Summary Page
Intended users, scope, value premise, effective date, and the final conclusion – up front.
2. Scope & Inspection Disclosure
What was inspected (or not), by whom, and how condition was determined.
3. Equipment Identification & Specs
Technical tier (Super-Spec vs. Legacy), emissions compliance (Tier 4/DGB), IADC inventory, and configuration (skid vs. trailer).
4. Condition Documentation
Verified ECM fuel burn data, API 4F/8C certifications, ASME U-Stamps, and ultrasonic wall thickness measurements.
5. Market Support & Comps
Normalized auction results and global dealer listings filtered by utility-based models and international transportability.
6. Valuation Rationale & Adjustments
Efficiency premiums for decarbonization tech (E-Frac/Dual Fuel) vs. economic obsolescence for non-walking or Tier 2 diesel assets.
7. USPAP Certification & Limiting Conditions
Signed certification, assumptions, and disclosures a reviewer expects.
If the number needs to be defended, our reports show the scope, evidence, and logic (not just a price).
Our USPAP Oilfield Equipment Appraisal Process
We define the asset’s market identity first, document the condition signals that move price, then reconcile against closed-sale comps with explicit adjustments.
STEP 1 – DEFINE THE ASSIGNMENT + IDENTITY
We lock intended use/users, value premise, and effective date, then define the asset class. For OFS assets, this means categorizing by “Tech Tier” (Super-Spec vs. Legacy) and utility (e.g., 1,500 HP AC walking rig vs. 1,000 HP mechanical). That identity statement anchors the comp search.
Step 2 – Evidence Capture (Desktop or On-Site)
We document value drivers with photos and data: ECM fuel burn (the “truth serum” for engine wear), API 4F recertification status, ASME U-Stamps, and IADC equipment lists. For stacked assets, we estimate recommissioning costs to provide an “as-is” value.
Step 3 – Closed-Sale Comps + Reconciliation
We anchor on closed-sale comps in the same utility class. We then normalize for efficiency premiums (E-Frac/Dual-Fuel savings) and international transportability. The report shows what moved value and why moving from auction FLV to a supported FMV.
Pricing & Turnaround
Oilfield equipment appraisal pricing is driven by scope + asset count + configuration/condition uncertainty. We can quote quickly once we know what must be defensible to keep the value conclusion reviewer-safe.
What usually increases scope (common oilfield triggers):
Turnaround time
Desktop vs On-Site Oilfield Appraisals
We recommend the lightest scope that still survives review. Desktop works only when the file can verify identity, condition, configuration, and control/location. If any of those are unclear, inspection becomes the defensible move.
Desktop
Online equipment appraisals work when your file has:
On-Site
On-Site inspection is the default when any of these are true:
Helpful Resources:
What We Need to Defend an Oilfield Equipment Value
For oilfield assets, the comp set lives or dies on market identity + utility value. A 1,500 HP rig that can walk pad-to-pad exists in a completely different price universe than a mechanical unit restricted to shallow vertical wells, regardless of mechanical condition. That’s why our scope decisions are driven by what the evidence can prove, NOT what the machine is called.
- IADC Equipment List & Certs: The standard inventory document to cross-reference with physical inspections, including current API 4F/8C and ASME U-Stamp certifications.
- ECM "Truth Serum" Data: Electronic Control Module (ECM) downloads to verify total fuel burn, which is a more accurate metric of wear than dashboard hour meters.
- Emissions & Tech Tier Verification: Documentation of engine tiers (Tier 4 Final vs. Tier 2) and fuel source capabilities (Dual-Fuel/DGB or E-Frac) to justify efficiency premiums.
- Structural & Integrity Reports: Ultrasonic thickness (UT) tests for pressure vessels and Category IV recertification papers for masts to verify they are field-ready.
- Configuration Details: Confirmation of "Super-Spec" requirements like omni-directional walking systems and 7,500 psi mud systems.
- Maintenance & Overhaul Invoices: Specific build sheets or dyno test reports to distinguish a "serviced" unit from a true zero-hour "rebuild".
Next are the specific oilfield value signals we adjust for when we select comparables and reconcile the final number.
Typical quote turnaround after intake
Coverage (remote + on-site)
What Drives Oilfield Equipment Value
Oilfield equipment values move on a specific set of repeatable variables. We filter comps by the machine's market identity first (Tech Tier + Configuration), then adjust for the condition signals that actually change what buyers pay (especially emissions compliance and structural integrity).
Tier 1: Primary value signals (comp filters + big adjustments)
| Value signal | Why it moves price | What we document / verify |
| Tech Tier / Specification | Identifies if a rig is "Super-Spec" (Tier 1) or a "Legacy" asset restricted to shallow wells or export. | Walking system specs, AC drive vs. SCR, and mud pump pressure ratings (7,500 vs. 5,000 psi). |
| Emissions / Fuel Source | Decarbonization tech (E-Frac/Dual-Fuel) commands a premium for OpEx savings and ESG mandate compliance. | EPA emission labels, Tier 4 Final status, and ECM-verified diesel substitution rates. |
| Effective Age (ECM Data) | Total fuel burned reveals actual mechanical wear, often exposing "phantom value" from unreliable hour meters. | PSR downloads showing cumulative fuel burn, load factors, and active diagnostic codes. |
| Structural Certification | Certified field-readiness (API 4F Category IV) eliminates $150k–$500k in immediate upcoming repair costs. | API 4F/8C certificates, mast recertification dates, and NDT inspection papers. |
Tier 2: Secondary condition signals (smaller but still value-moving)
| Value signal | Why it moves price | What we document / verify |
| Code Compliance (Stamps) | ASME U-Stamps on vessels are mandatory for insurance and operation in regulated markets. | Photo of the data plate showing the "U" symbol and National Board registration. |
| Metallurgy (NACE) | "Sour Service" (H2S) compliance adds 15–25% value and opens a wider resale market. | NACE MR0175 stamps on data plates or Material Test Reports (MTRs). |
| Included Tooling | Drill pipe, top drives, and BOP stacks can equal 30–50% of the total system value. | IADC equipment lists cross-referenced to identify "removable" items included in the sale. |
| Logistics / Mobility | Skid-mounted vs. trailer-mounted configurations dictate transport costs and market-clearing prices. | Transport dimensions, shipping weight, and chassis/trailer certifications. |
How we reconcile
We anchor on closed-sale comp results in the same Tech Tier, then normalize for fuel arbitrage savings, certification status, and transportability. We state the specific drivers (e.g., Tier 4 DGB vs. Tier 2 Diesel) that moved the final number-not just "market conditions".
Oilfield Configuration & Attachment Schedules
Two oilfield assets can share the same model name and still belong to entirely different comp sets. Configuration and included tooling change buyer demand and market identity, so we document them as a schedule (what is included/verified) rather than loose notes.
Configuration Schedule
- Rig/Unit Classification: Defining market identity as Super-Spec, High-Spec, or Legacy (Mechanical/SCR) to establish the correct baseline comp set.
- Propulsion & Emissions Tier: Verifying Tier 4 Final, Dual-Fuel (DGB), or legacy Tier 2 diesel status to justify efficiency premiums or apply economic obsolescence.
- Operational Capacity: Documenting Drawworks HP ratings (1,500–2,000 HP+) and Mud Pump pressure ratings (7,500 psi vs. 5,000 psi).
- Mobility & Moving Systems: Verifying omni-directional walking, skidding, or conventional box-on-box substructures for factory-mode drilling readiness.
- Compliance & Engineering Code: Confirming API 4F recertification status for masts, ASME U-Stamps for pressure vessels, and NACE MR0175 sour-service compliance.
- Mounting & Portability: Distinguishing between skid-mounted and trailer-mounted configurations to determine international export potential or domestic land mobility.
Attachment Schedule
| Included tool | What matters | Proof we ask for |
| BOP Stack | Pressure rating (psi), brand, and Certificate of Conformance (COC) status. | Current COC + clear photo of the data plate. |
| Drill String | Outside diameter (OD), total footage, and connection type. | IADC Equipment List + recent wear or inspection logs. |
| Top Drive | Continuous torque capacity and brand (e.g., NOV or Canrig). | Data plate photo + documented service/overhaul history. |
| Mud Pumps | PSI rating (5,000 vs. 7,500) and fluid end material (stainless vs. carbon). | Build sheets + ECM Product Status Reports (PSR). |
| Coiled Tubing | Pipe diameter, length, and remaining fatigue life. | Fatigue logs + reel core configuration specs. |
If you’re in any of these roles and need defensible equipment values for an upcoming decision, you can get an appraisal quote today.
Who Uses Our Oilfield Equipment Appraisals
Our oilfield appraisals are built for review. If your value conclusion needs to hold up to a credit committee, a tax file, or a contested matter, these are the teams we write for:
Lenders & Credit Teams
Collateral support for underwriting, renewals, and credit decisions where the file needs a defensible FMV (and OLV/FLV when required).
CPAs & Tax Professionals
Purchase price allocation (PPA), ad valorem tax disputes, and statutory compliance requiring a supported value premise.
Attorneys & Legal Professionals
Settlement, dispute, estate, and buyout contexts where scope, premise, and support may be challenged in court.
Fleet Owners & Operators
Fleet rationalization, replacement decisions, and internal reporting that require a market-grounded view of the machine's real configuration and condition.
Insurance Teams
Scheduled values and loss-related support where equipment identity, included attachments, and evidence quality matter.
FAQ
If you’re skimming, start here.
These FAQs cover appraisal cost, scope (desktop vs on-site), what we need from you, typical turnaround time, and the value drivers that change results for this equipment type.
Or, call us at (844) VAL-UATE!