Contract drillers and directional drilling companies run some of the highest day rates in the oilfield — and wait on some of the longest payment cycles. Net-60 to Net-90 is standard from operators, meaning a $500,000 invoice may sit unpaid for three months while your rig, crew, and fuel costs run daily.
Contract drillers and directional drilling companies run some of the highest day rates in the oilfield — and wait on some of the longest payment cycles. Net-60 to Net-90 is standard from operators, meaning a $500,000 invoice may sit unpaid for three months while your rig, crew, and fuel costs run daily.
Factoring allows drilling contractors to operate multiple rigs without being cash-strapped between wells. Factor invoice by invoice as each job completes.
Without Factoring
With Factoring
Free application. Same-day approval. Cash in 24 hours.