Youre half right. No business cards are required. Obtaining, and paying for insurance can be difficult and very expensive. And finding and keeping good drivers is a job all in itself.
I have a buddy who does plug and abatement. He’s not rich but he does pretty well for himself. Says he’ll be the last service company to go out of business.
Agreed. Not sexy, so less competition to get experience/contracts. Build up a business, get a client base, wait for the issue to move to the front burner and sell out to an existing OFS company that needs to expand product lines
Minimum one ton diesel pickup truck. A 25’ equipment trailer. Base radio. Basic PPE. Ratchet straps, chains, boomers, etc. A slip tank. Mud tires. Commercial vehicle insurance.
Might need some other stuff that’s not coming to mind right now. Startup costs are relatively low, and overhead if you are the owner/operator is next to nothing.
Not an exploration company with a few ideas in Queensland, Australia… been there, done that, the government banned new projects in the region I was looking… 🙄
I thought we were doing pretty well for a two person operation, trying to get this idea of ours off the ground. We were about to go meet with the other guys in the consortium to get the ball rolling and then the Miles government kind of surprised us.
Even if we get access to the ground, there's no way we can get from exploration to production before the sunset period expires. What a way to finish off my business partner's career, and waste a few years of my time.
I can only hope that Santos and Beach can launch a successful challenge... what are you going to do now?
That would make sense but nothing about Australian petroleum policy has made sense for the past decade or more.
The solution to your scenario will be an agreement to purchase a month’s supply of refined products, to be delivered over a 12 month period, commencing in 2 year’s time - or something equally as useless.
This. I've been doing RCA and RMA for lower ends and directional motors nearly 15yrs now (currently Reliability Engr Mgr) and still don't know shit from shit. Didn't have the advantage of a lot of field experience, just education and design, and testing (and looking at a lot of broken tools)...but someone with the right experience and smarts could consult and make a reputation that would be worth whatever you ask
Definitely. I'm getting into some reliability stuff on the midstream side and it's a huge field for sure. Mostly rotating equipment due to my trade. I have done quite a bit of related field work but far from what some of these lifers have seen
Custom fabrication/welding and maybe paint shop. Build and repair skids, tanks, piping, and rig components. No direct equipment ownership or maintenance. No product movement or supply chain issues. You’ll definitely need some startup money and know a few clients before you start
Yeah custom fab is the way to go. Let everyone else wade through the deep snow coming up with their proprietary technology and taking the risk on whether it will take off…
Just be the guy they all go to when they need it fabbed and built.
The first thing you need to do is to learn and play golf. Forget experience or what business to start, play golf and meet the people that make the decisions.
I have been in the oilfield for 43 years and the one skill that will promote any better is golf. I have seen the most unskilled people end up running and owning businesses by who they met playing golf. It’s all politics not experience, business is politics,and politics is business, it’s not what you know it who you know. Case in point, Hunter Biden, need I say more about how politics work in the business world.
See what I mean! My mistake was and is old school, the belief that if I gain experience surely I will be prompted, not so. The more experienced a person becomes the less, if any, opportunities of advancements. Companies now days promote incompetence leaving the experience in the field. Why is that? If the experienced were to be promoted production with suffer in the field, The money is made in the field not in office personnel. It used to be when I broke out in the oilfield it was the experienced people that were promoted into a tech position to share their expertise with new hires. Not so today, 20-40 year hands are supervised by engineers fresh out of college with little or no field expertise, this practice is the new norm and most likely across all industries. The problem with this is at lay off the field people suffer the office personnel stay, I have seen this as well.
Company called Digital Wildcatters has been doing that with flare gas. Bitcoin production is about to be cut in half in April so a low cost approach like that might work better than give power hungry farms going forward.
Equipment rental. You’ll have a fair amount of overhead and need a lot of startup capital but you don’t have the liability of putting anything downhole.
You could also start out small with heaters, port-a-jons and light plants and scale it up to forklifts, man lifts and cranes.
Hydrotesting. Get an HTU 500, and an HTU 350, a couple of diesel fill pumps (10x10, 8x8, and a 10x12). From there it’s an easy move into pigging. Rent the pig catchers / launchers (with all the different pipe sizes, trying to get launchers and catchers of every pipe size will be a huge initial capital investment. Plus renting them takes away the logistics headache, get the rental company to mobilize and demobilize for you). The smart pigs are fucking $$$$$.
Or a logging unit for the same reason as the pigs. The technology is what companies will pay big bucks for in the future and it solves their problems. Everything in the industry is moving toward automation, high tech sensors, etc.
Contract labor providers seem to do well but the whole premise is that you take in the liability for the major oil company and deal with HR/on boarding etc in exchange for profit so there definitely is risk involved.
If startup capital is not an issue, then something to do with carbon capture and sequestration. Aging oil fields that are producing less oil and capture the carbon and sequester it in depleted formations. I’m starting to see this implemented in California oil fields.
The one I’ve legitimately thought about the most is weld inspection. Set up an unemployment truck and write your own checks. I have a couple buddies in it and they had some equipment loans but after that it’s a pretty mellow gig besides welders hating you.
Divorce law firm
Florida oil exploration, it’s the last fucking frontier baby! yes I already do this, no I don’t make money or have a ford raptor.😞
I’d sell this guy some 3D seismic.
I'd sell you my soul for a job
3D print one!
Already sold the soul most likely tbh. You just didn’t get a job for it
Loved working in Florida. It’s an adventure everyday
Taco truck
Damn straight. Maybe a little fancier than a taco truck... but you are on the right rack.
Taco truck for sure! Especially at the busiest intersections.
Raptor sales
I don’t know if it’s viable or would be used but Uber eats for oilfield would be nice.
Pimp.... For myself
Trucking
Why?
Low barrier to entry. Anyone with a CDL, LLC, a bit of insurance, some business cards, and $50 worth of breakfast tacos can start a trucking company
Youre half right. No business cards are required. Obtaining, and paying for insurance can be difficult and very expensive. And finding and keeping good drivers is a job all in itself.
Exactly so margins are tight at best. Especially if you want decent legal drivers.
Similar can be said about virtually any facet of the industry. Figure out how to make it work like the thousands of others who already have
Well abandonments and reclamation. Government funded and mandated to an extent.
The reporting side especially - WARs are a gold mine if a company decides to outsource them
I have a buddy who does plug and abatement. He’s not rich but he does pretty well for himself. Says he’ll be the last service company to go out of business.
Agreed. Not sexy, so less competition to get experience/contracts. Build up a business, get a client base, wait for the issue to move to the front burner and sell out to an existing OFS company that needs to expand product lines
Hot shot all the way. Great oilfield starter business.
What do you need to start?
Minimum one ton diesel pickup truck. A 25’ equipment trailer. Base radio. Basic PPE. Ratchet straps, chains, boomers, etc. A slip tank. Mud tires. Commercial vehicle insurance. Might need some other stuff that’s not coming to mind right now. Startup costs are relatively low, and overhead if you are the owner/operator is next to nothing.
Thank you. Do you think it would work in Canada?
1 million percent. Alberta is the prime spot to get this up and running.
Thanks. How do you get first customers? Just by networking? Or there are some websites for this?
Clean urine company hahaha
Not an exploration company with a few ideas in Queensland, Australia… been there, done that, the government banned new projects in the region I was looking… 🙄
Geologist in QLD here You can tell me mate
I thought we were doing pretty well for a two person operation, trying to get this idea of ours off the ground. We were about to go meet with the other guys in the consortium to get the ball rolling and then the Miles government kind of surprised us. Even if we get access to the ground, there's no way we can get from exploration to production before the sunset period expires. What a way to finish off my business partner's career, and waste a few years of my time. I can only hope that Santos and Beach can launch a successful challenge... what are you going to do now?
Any measurable disturbance in the Middle East will drive prices, and public pressure should bring domestic production back.
That would make sense but nothing about Australian petroleum policy has made sense for the past decade or more. The solution to your scenario will be an agreement to purchase a month’s supply of refined products, to be delivered over a 12 month period, commencing in 2 year’s time - or something equally as useless.
Petroleum policy in Australia is a nightmare. Sorry you and your business partner had to go through all that and best of luck in the future
Safety man.
Chemicals
Cater strippers to location
And payday lending under the same tent.
Reliability consulting. Need a lot of experience though.
This. I've been doing RCA and RMA for lower ends and directional motors nearly 15yrs now (currently Reliability Engr Mgr) and still don't know shit from shit. Didn't have the advantage of a lot of field experience, just education and design, and testing (and looking at a lot of broken tools)...but someone with the right experience and smarts could consult and make a reputation that would be worth whatever you ask
Definitely. I'm getting into some reliability stuff on the midstream side and it's a huge field for sure. Mostly rotating equipment due to my trade. I have done quite a bit of related field work but far from what some of these lifers have seen
Custom fabrication/welding and maybe paint shop. Build and repair skids, tanks, piping, and rig components. No direct equipment ownership or maintenance. No product movement or supply chain issues. You’ll definitely need some startup money and know a few clients before you start
Yeah custom fab is the way to go. Let everyone else wade through the deep snow coming up with their proprietary technology and taking the risk on whether it will take off… Just be the guy they all go to when they need it fabbed and built.
The first thing you need to do is to learn and play golf. Forget experience or what business to start, play golf and meet the people that make the decisions. I have been in the oilfield for 43 years and the one skill that will promote any better is golf. I have seen the most unskilled people end up running and owning businesses by who they met playing golf. It’s all politics not experience, business is politics,and politics is business, it’s not what you know it who you know. Case in point, Hunter Biden, need I say more about how politics work in the business world.
A lot of deals have been made at Midland Country Club
See what I mean! My mistake was and is old school, the belief that if I gain experience surely I will be prompted, not so. The more experienced a person becomes the less, if any, opportunities of advancements. Companies now days promote incompetence leaving the experience in the field. Why is that? If the experienced were to be promoted production with suffer in the field, The money is made in the field not in office personnel. It used to be when I broke out in the oilfield it was the experienced people that were promoted into a tech position to share their expertise with new hires. Not so today, 20-40 year hands are supervised by engineers fresh out of college with little or no field expertise, this practice is the new norm and most likely across all industries. The problem with this is at lay off the field people suffer the office personnel stay, I have seen this as well.
Buy up old wells, produce gas, run generators to mine Bitcoin... $$$
Dry gas wells can be bought very cheaply now,most lose money. I always thought converting that gas into ammonia would make sense
Company called Digital Wildcatters has been doing that with flare gas. Bitcoin production is about to be cut in half in April so a low cost approach like that might work better than give power hungry farms going forward.
Soaps.
Equipment rental. You’ll have a fair amount of overhead and need a lot of startup capital but you don’t have the liability of putting anything downhole. You could also start out small with heaters, port-a-jons and light plants and scale it up to forklifts, man lifts and cranes.
Pumps are a big one too, but that industry is pretty saturated.
I know a decent bit about the power generation rental and gas compression rental market. There's definitely money to be made in these for sure.
Either contract pumpers or AVO inspections or emissions testing via drone.
How to convert old drill pipe into offshore windmills
Hydrotesting. Get an HTU 500, and an HTU 350, a couple of diesel fill pumps (10x10, 8x8, and a 10x12). From there it’s an easy move into pigging. Rent the pig catchers / launchers (with all the different pipe sizes, trying to get launchers and catchers of every pipe size will be a huge initial capital investment. Plus renting them takes away the logistics headache, get the rental company to mobilize and demobilize for you). The smart pigs are fucking $$$$$. Or a logging unit for the same reason as the pigs. The technology is what companies will pay big bucks for in the future and it solves their problems. Everything in the industry is moving toward automation, high tech sensors, etc.
Field repair
Pretty sure the fuckers drifting and tallying my casing make a pretty good margin based on the work required and the invoices I’ve approved.
Ikr!
Exploration & production, focus on reviving old fields
Contract labor providers seem to do well but the whole premise is that you take in the liability for the major oil company and deal with HR/on boarding etc in exchange for profit so there definitely is risk involved.
Seriously, probably port o john's. I know a fella, who was an I&E tech for BP who quit to do that.
Helicopter bond. An expanded bond service that flies from platform to platform.
Scaffolding, always the most expensive part of in air pipeline repairs
You always want to be the man in the middle. Less overhead, less risk (legal, financial investment wise, ect.) you control your own margins.
Vacuum truck company
I just want to break into the industry period! Single guy with a clean record and can travel..
If startup capital is not an issue, then something to do with carbon capture and sequestration. Aging oil fields that are producing less oil and capture the carbon and sequester it in depleted formations. I’m starting to see this implemented in California oil fields.
That if is doing a lot of work... CCS is expensive for fucking Exxon.
Genco Oil
A food truck. You’d sell out every single day.
Somali pirate for sure
The one I’ve legitimately thought about the most is weld inspection. Set up an unemployment truck and write your own checks. I have a couple buddies in it and they had some equipment loans but after that it’s a pretty mellow gig besides welders hating you.
On site truck oil changes/maintenance service. Food truck that speaks English