Bakken Owner Operator Potential Earnings?

I have been talking to several owner operators, in frac sand division that say they are making $135-$140/hr. I will confirm this soon. I am trying to determine if it is feasible to invest in a new or possibly used truck and pneumatic trailer and sign on with this company as an owner op. is it worth it? Can I make my money back within the year? Etc. at $135/hr within the legal time frames available I can make:

$11,340/wk gross ($135 x 84 hrs max @ 5 on 1 off and seventh day work after 24 reset)
$22,680/pay period (bi-monthly)
$589,680/anannually

i have never been an owner op, so I am sure I am way exaggerating everything, but take fuel, taxes, insurance, truck payments, maintenance and all other costs into account and I can safely assume the annual return can be reduced by 2/3rds leaving me with $196,560

Please leave any thoughts or comments below, what do you think?

BTW, this is in North Dakota oil patch and you don't need your own authority if you stay in state lines. Also down time in sand is pretty significant, but this company pays a minimum demerge pay and guaranteed hours even if sand is real slow, especially in winter time.

Long story short, any experienced folks in this line of work, is it worth it?


Thanks, CZ

 

Ys they do. What kind of truck would be best for these roads?

 

You have to find the right company to work for and ask other drivers what they think. I would say a bigger company that has a better reputation for paying their drivers and a repair shop that can help O/o's when the going gets tough. Gotta ask around, talk to guys at truck stops and get an overall educated and well explored opinion about what other drivers say. Just use common sense and you'll be alright. CZ

 

Yes the roads tear your truck up and yes in sand and water their can be pretty crazy wait times, that's why I say get your HAZMAT and with some bigger companies that may be expanding into other stuff, you can get cross trained to work in fields other than sand or water and when it gets slow, do other stuff. I know a guy that got cross trained in Liquid Natural Gas and also another one that learned to push cars with a locomotive at a rail yard and he has kept busy with more than enough work throughout the winter and slow seasons. You can keep busy if you don't just stay in one field, but expand into other fields and develop new skills that WILL GIVE YOU AN EDGE over other drivers and make you a highly versatile and diverse employee that everyone can use when stuff slows up. More diversity=more pay and steadier work. Diversify and keep working. If you don't have HAZMAT, GET IT IMMEDIATELY because there are great jobs out there that you will definitely need one for. I remember my CDL school teacher said you don't need HAZMAT, that's pure BS. You should have one if you want to do anything different from OTR. If not, you'll be stuck just hauling sand and/or water or possibly van or other OTR related goods. BTW, I heard that water drivers may be required to get HAZMAT in the future because the water can burn your skin and cause problems. Nasty stuff. Maybe not federally, but some states may require it. Anyway, have a good day my oilfield friends. CZ