We started RigUp over two years ago to build the premier marketplace for oilfield services. Our product began as a mobile app for the field and has grown into the best-in-class procurement, compliance, and vendor management solution for the upstream industry.
We believe that through technology, E&P companies and service providers can connect and execute operations more efficiently and effectively. Proper stewardship means a safer environment and American energy independence. Over 150 E&Ps believe in our mission and goal and we are grateful for their support.
In 2017, we will continue to enhance our product offering to meet the needs of our users – some new features include streamlining the MSA process, eliminating the industry’s outdated “procure-to-pay” workflow, and ensuring 100% environmental and safety compliance across the service provider network. Clients have asked and we’ll continue to deliver. Look out for roll-outs of features that simplify the procurement of integrated services. We’re ready to show off our launch of bundled and packaged solutions utilizing various work scopes within a project.
It’s been a year of hard work for our team but the successes have been well worth it. Here are some highlights from the past year. We look forward to delivering you our very best in 2017 – stay tuned!
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Oil and gas contractors have historically been represented by consulting firms that collect resumes and bring them to the offices of the E&P. Through RigUp, the oilfield’s online marketplace, oilfield consultants can now complete a single application within minutes that presents their experience to even more E&Ps.
RigUp’s operator network spans over 150+ E&P companies. These E&Ps utilize RigUp’s bidding and procurement platform to find various oilfield services, some of which they will subcontract through RigUp. RigUp subcontracts work to consultants with day rate and work acceptance agreements all occurring on the online platform.
Utilizing its best in class technology and a premier insurance program, RigUp can subcontract at rates of 5-10%, which are significantly less than the traditional industry average (typically ranging from 15% to 25%). For example, an independent Mud Engineer at Parsley increased his day rate that ultimately saved him tens of thousands of dollars.
Oilfield consultants who have switched to securing work through RigUp have made an additional $170,000 in annualized earnings given RigUp’s industry leading take rates.
The platform goes even further by supplying a compliance and labor manager tool for the E&P. RigUp’s Labor Manager provides an automated compliance platform that allows E&Ps to successfully onboard and manage their consultants seamlessly. Each consultant is personally screened and ready to go within a single business day. RigUp allows for real-time HSE monitoring of the contingent labor workforce, all available at the operator’s fingertips.
RigUp has created a platform that allows oilfield consultants to showcase their experience in the industry directly to the E&P company. That said, RigUp has changed the dynamic between E&Ps and consultants for the better. Consultants are exposed to additional work opportunities while E&Ps can select the best workforce for any project at hand.
If you’re an E&P interested in hiring labor through RigUp’s marketplace, or if you’re a Oilfield Consultant looking for more work opportunities and better pay, get in touch with us today.
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