Crude oil O/O

Discussion in 'Oilfield Trucking Forum' started by Chad.Brewer, Oct 19, 2014.

  1. Chad.Brewer

    Chad.Brewer Bobtail Member

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    Oct 19, 2014
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    i AM FIXING TO BUY AND TRUCK AND I AM WONDERING WHAT THE AVERAGE SETTLEMENT WAS FOR A O/O? AND DO THEY PAY FOR THE INSURANCE ON THE TRUCK? THIS IS MY 1ST TRUCK AND IM KINDA NERVOUS ABOUT THIS NEW JOURNEY AND JUST HAVE A FEW QUESTIONS. ANY HELP WOULD BE FANTASTIC! THANKS
     
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  3. STexan

    STexan Road Train Member

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    Really? That's all you're going to give us to make a reasonable reply? Based on what you're asking and what you're not saying, my help would be to recommend you back out of any purchase before it's too late. You have obviously not done your homework and this is definitely going to be a problem for you.
     
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  4. cmbks21

    cmbks21 Medium Load Member

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    Go work for an individual, you will get great insight
     
  5. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    Now may not be the best time to enter to energy industry, with oil prices falling like they are. You may want to reconsider. Maybe do as cmbks21 says an get on as a co driver or else maybe go into another trucking sector, such as tanker, to get your feet wet. Just thinking.
     
  6. Ridgeline

    Ridgeline Road Train Member

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    Look dude, last year I had a truck sitting idle, I thought great, I'll move it out to SD and drive it myself. So out there I went, looked around, got my contacts and other ideas but I also talked to actual O/Os who gave me a real look at their books (these are not newly minted CDL holders but guys who have 20 years and more). SO after all of my work, time and planning, I decided to stick the thing with FedEx >>>> it is making more money.
     
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  7. JPenn

    JPenn Road Train Member

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    If this is your first go at being an owner/operator stay away from the oilfield. The pay is good, the wear and tear on the equipment can be horrific compared to OTR, and if you're LUCKY you'll get paid every month (if you're less lucky or work for an energy company having trouble, Chesapeake I'm looking at you, 90 days to pay is pretty common). You're on the hook for any and all expenses, they pay nothing but your hourly rate. You'll have to have enough of a bankroll to float from the time you start operations until payday, and that in itself is a hefty sum.

    Mind you I'm talking about leasing directly to the energy company as a hauler, usually with what's called a MSA, or Master Service Agreement (something you're not going to get with only one truck). If you're leased onto another carrier who holds the MSA, your worries about time to pay will be somewhat less.
     
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  8. AP1977

    AP1977 Light Load Member

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    A friend of mine owns a truck with CDL, but no experience driving. He has a hookup with company and asked me to drive. I am hesitant as worried of pay and hs lack of experience. Does this situation typically cause delays in pay like you mentioned?
     
  9. realdesertkickin

    realdesertkickin Heavy Load Member

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    I met a couple guys winging it in ND...He was pulling 15k a week, dumping tons on truck repairs, tow bills etc etc...He said I should have 25k in the bank on back up before O/O ing it..

    So many factors tho...I think LUCK is a biggun...Get a good deal, truck holds, you win...miss either, you loose
     
  10. chablis

    chablis Bobtail Member

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    Jul 19, 2014
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    I'm looking to haul crude oil anywhere, do yall have any information on who is the best company or companies paying O/O good money to haul crude oil? Do these companies provide trailers and what equipment would I need for my truck? Thanks
     
  11. cmbks21

    cmbks21 Medium Load Member

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    What area?
     
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