Abstract: An extensible polished rod protector having alternating inner and outer diameter portions defining adjacent convolutions, and annular retainer members in the form of radial, reinforcing support plates within the outer diameter portions for preventing radially inward collapsing thereof upon extension of the protector and also preventing contact between the inner diameter portions and the polished rod. The polished rod passes through a liquid receiving container having means for trapping oil accummulated therein while permitting the egress of water therefrom. A floating rod wiper assembly in the container maintains wiping engagement with the reciprocating rod while accommodating lateral shifting and wobbling thereof.