More About Our History
A worldwide focus
During late ‘79 and the early 80’s Waters built up a solid base of foreign-owned drilling industry customers that relied on the company for all of their equipment needs. By dealing directly with end users, Waters personnel became familiar with the needs of the international drilling community and perfected a service- and knowledge-based business that was extremely successful.
During the boom
Waters International quickly moved into the US market. Peyton Waters recognized the need for new drilling equipment to service the domestic rig building boom. The company became a stocking distributor for all the major manufacturers of pipe handling equipment and was soon supplying all of the rig manufacturers and contractors with urgently needed new equipment to complete the rigs so that they could be shipped. This frantic period solidified Waters’ reputation for “hard to find” equipment at a fair price.
During the bust
By mid-1981, Peyton Waters foresaw the crash of this “boom” period. His fast response allowed him to take evasive action to avoid large losses. By the time the dust settled, Waters staff was in a strong position. The company refocused on its core export business while it took advantage of the massive surplus of new capital drilling equipment. Thanks to its strong financial position and conservative strategy, Waters International, Inc. was ideally positioned to take advantage of this unprecedented opportunity.
During the recovery
During the mid- to late 80’s, Waters perfected its export supply business. The company worked with all of the major purchasing groups for foreign governments in the international oil and gas business. Waters handled all phases of the project, including export crating, international financing, product sourcing and expediting.
In the 1990’s, as the major drilling companies began upgrading their onshore and offshore rigs, Waters’ large inventory of drilling equipment and spare parts was much in demand. Today Waters International equipment is the sensible solution for majors and independents all over the United States. In a highly competitive market, refurbished and reconditioned capital drilling equipment makes sound economic sense. Over more than four decades the principle remains unchanged: safe and profitable drilling is still the bottom line.