Oilfield Consulting Firm Transparency: Payment Terms

With data from over 165 existing firms, we found that the average consulting firm pays their contractors in 27 days, with some firms taking as long as 60 days.  That is a long time to wait for payment, even if you can afford to do so.

However, what is even more concerning is the fact that this duration is typically a direct indicator of how much credit risk you might be unknowingly taking.  In most cases if a firm cannot afford to pay you until they get paid, then they cannot afford to pay you, if they don’t get paid!  Even worse, we have seen multiple cases of consultants not getting paid by a firm because the firm they were working with had a different client that did not pay their bills, thus bankrupting the company and taking everyones hard earned money with them.

At RigUp, you always have the ability to be paid in less than 5 business days.  In some cases, our clients require that they first verify a job-sheet before we can release payment, which can delay our ability to process payment by a couple of days.

We are able to pay consultants and then wait to get paid through extensive credit facilities that are tailored to provide 100% credit security back to you.

If you’re currently working as an oilfield consultant, click here to get a free quote on how much more money you could be making by switching to RigUp.

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RigUp helps Operators keep their workforce happy by offering Contractors More Jobs and More Money

RigUp Subcontracting Program Quote

American Resource Development, LLC (Ameredev) is an Austin based E&P company focused on the Permian Basin. Ameredev has successfully leveraged RigUp’s Subcontracting Program as a solution to help build out their oilfield crew to work on drilling, completions and production activities, which include Mud Engineers and Lease Operators.

Ameredev was able to get up and running with the RigUp Subcontracting Program in next to no time, onboarding 17 new contractors in less than a week, with each individual screened and ready to go in 24 hours.

Zach Boyd, Operations Superintendent at Ameredev provided some feedback on his recent experience with RigUp. He explained, “It’s a very simple process onboarding the Contract Personnel.”

Based on a company’s requirements, RigUp can perform background and reference checks, drug and alcohol screenings and the validation of training requirements to meet an organization’s standards. Once complete, contractors are ready to step foot on location and get to work.

Zach added, “RigUp allows ease of operations to assign work and is prompt and straightforward with invoicing.”

In addition to a seamless onboarding process, RigUp offers payroll administration for its subcontractors, including an easy way to log hours online. RigUp’s professional support team is always on-hand to assist both operators and contractors with any industry related challenges.

“The contractors have all been exceptionally pleased to be under the RigUp subcontracting umbrella. I have had very good feedback from the field,” says Zach Boyd.

The high level of satisfaction reported by RigUp’s subcontractors directly correlates to the benefits RigUp provides. By offering the best rates in the industry (substantially less than the standard of 15-20%), contractors take home more of their hard-earned money and receive it on-time, every two weeks. Since signing up to the RigUp program, the independent contractors performing work for Ameredev have realized a combined increase of more than 10% in their net earnings.

RigUp Subcontracting Program

Start leveraging RigUp’s subcontracting solutions for contingent labor today. Whether you’re a an Operator looking to build a team for your next project or an Independent Contractor looking for more work and more money, get in touch with us.

Sign Up as a Contractor consulting@rigup.com | 512-501-5452 x708

Sign Up as an Operator  |  support@rigup.com  | 512-501-5452