Well-service, fluid-hauling and rig-support companies in Williston, North Dakota can use this page to match units, repairs, parts and payroll to funding types before Willowpeak Capital Group passes a request to funding partners.
At a glance
- Support activities for oil and gas operations, Williams County, ND
Support activities for oil and gas operations, Williams County, ND: 137 employer establishments, 4,440 paid employees (CBP 2023)
- Mining, quarrying, and oil and gas extraction, Williams County, ND
Mining, quarrying, and oil and gas extraction, Williams County, ND: $764 million in annual payroll, the largest of any sector (CBP 2023)
- Support activities for oil and gas, ZIP 58801
Oil and gas support employers with a ZIP 58801 address (Williston, ND area): 117 (ZBP 2023)
Oilfield Financing Company When a Williston, ND Oilfield Service Company Needs Service Rigs
An oilfield financing company, in practice, is one of several kinds of partner: an equipment lender that knows used service rigs, a bank with energy lending experience, or a finance arm of a dealer. Each wants the same core facts: the unit, its hours and condition, the down payment, and the operator contracts that will keep it working.
Illustration only, invented figures: a company buys a used service rig for $395,000 with $59,250 down. The $335,750 balance over 60 months at an annual rate of 10.75% means roughly $7,258 a month, $435,494 in total payments and $99,744 in interest.
Financing for Oilfield When a Williston, ND Oilfield Service Company Needs Pulling Units
A pulling unit is titled, serialized and traded between operators, which is what lets it secure its own financing. Partners read the year, the make, the derrick rating, the hours on the engine and the last inspection. A unit with a recent rebuild and records to prove it is a stronger request than one with no history.
A company adding a second or third unit should show how the first units are deployed: the operators, the days worked in recent months and the invoices they produced. That is the evidence a partner uses to judge whether the new unit will be busy.
Oil and Gas Equipment Financing: Vacuum Trucks and Rig-Up Costs
A vacuum truck is the plainest equipment request in the field: a chassis, a tank, a pump, a title and a resale market. Rig-up costs, the hoses, fittings, mobilization and labor before the truck starts billing, have no asset behind them. Split the two: the truck on equipment financing, the rig-up money on a line of credit.
Illustration only, invented figures: a $168,000 vacuum truck with 15% down leaves $142,800 to finance. Over 48 months at an annual rate of 11.25%, that is about $3,708 a month, $177,989 in total payments and $35,189 in interest.
Oilfield Equipment Financing: Truck Repairs and Pressure Pumps at an Oilfield Service Company
Truck repairs and pressure pumps are two different requests. A major repair, an engine or a transmission, restores an asset the company already owns; a partner may finance it as a repair loan secured by the truck, or the company may carry it on a credit line. A new pressure pump is equipment with its own value.
Commercial and industrial machinery repair shops numbered 23 in Williams County, ND in 2023, and machinery, equipment and supplies merchant wholesalers 71 (County Business Patterns). Those are the shops and suppliers whose invoices show up in a repair request.
Support Activities for Oil and Gas in Williams County, ND: The Census Count
Support activities for oil and gas operations, NAICS 213112, had 137 employer establishments in Williams County, ND in 2023, more than any other six-digit industry in the county file. Those firms employed 4,440 people and paid $544.5 million in annual payroll; 41 of them had fewer than five employees, and 117 had a ZIP 58801 address (County and ZIP Code Business Patterns).
The whole mining, quarrying, and oil and gas extraction sector had 165 employer establishments, 5,844 paid employees and $764 million in annual payroll, the largest payroll of any sector in the county. Professional, scientific and technical services had more establishments, 182, though far fewer employees (County Business Patterns).
Operator Payment Terms and the Working Capital Side of an Oilfield Request
Payroll is the cost that runs ahead of operator payments. Oil and gas support payroll averaged about $122,628 per paid employee in the county in 2023 by our arithmetic ($544.5 million across 4,440 employees, County Business Patterns). A crew waiting 60 or 90 days on an operator's payment carries several payrolls before the invoice clears.
That gap is a working capital or credit line request, not an equipment one. The article on who finances pulling units and the working capital page walk through both sides.
Master Service Agreements, Field Tickets and Unit Records in a Williston, ND Request
An oilfield service request carries more paper than most, and each piece answers a partner's question. Master service agreements show which operators the company is approved to work for. Approved field tickets and invoices show the work is billing. The receivables aging shows when that money should arrive. Unit records, titles, hours and maintenance logs show what the equipment is worth.
- Business bank statements for the last six months
- The latest two business tax returns
- Master service agreements with operators
- A receivables aging by operator
- Titles, hours and maintenance records for each unit
- The quote or listing for the unit being bought
Service companies weighing a unit against crew payroll can also read how contractors carry payroll through a late payment, what lenders read in an application and when a machine needs added collateral.
By Willowpeak Capital Group · Updated
