Oilfield Service company client in the Permian Basin bills the operator a rate for 24 hours of their service, which commonly include personnel and hardware or product. Personnel cost is a considerable variable, with certification, safety training, shift work overtime pay, benefits, payroll taxes, workers comp, per diem, and transport all cost factors.
Use our data stack of in excess of half a million hours worked and billed in providing field specialists at the wellsite to develop a personnel cost model for a drilling specialist, which our client can use to refine their commercial proposals and better define gross profit margin on fieldwork.
Data analytics calibrated against current market pay rates defined; both hourly pay rates and hourly bill rates, a corresponding markup or margin along with an equivalent day rate cost or effective day rate. The daily cost model generated was scalable and allowed the client to expand its’ continent workforce of field specialists by 26%. Generating new business opportunities for both Petram and our Service Company client.
