The demands for frac sand are increasing, and so is the need for more frac sand haulers. While it can be a tough business with changing demands and oil prices, there are many benefits to being a frac sand hauler in the oilfield. Below are just a few.
Fracking has provided the oil industry with an innovative way to capture oil reserves that were otherwise unattainable. A crucial part of this process is the frac sand. The expected frac sand demand growth is 2.5 million tons per quarter over 2018-2019. This incredible amount of growth in the industry has created a large influx of new jobs in the oilfield, specifically frac sand haulers. With the recent increase in demand for drivers and a driver shortage problem, wages have been increasing in a steady trend. The average annual salary for a frac sand hauler that operates within a company is $66,711. The average salary for owner-operated drivers is $185,173. Many of these trucking companies offer signing bonuses and annual salary increases with safe driving.
Being a frac sand hauler allows you to travel around the United States depending on needs and demand of the well completion process.
The Bureau of Labor and Statistics predicts there to be a six percent increase in employment for truck drivers from 2016 to 2026. That means 108,400 jobs are expected to be created by the year 2026. These companies are experiencing a continuous demand for safe drivers, making its job security abundantly high. Nearly 70 percent of all consumer goods in the United States economy are transported by trucks. The need for trucking is here to stay.
With demand for frac sand hauling businesses is increasing exponentially. Without steady cash flow, a strain can be placed on the business and prohibit growth. Many oilfield companies take 30, 60, or even 90 days to pay invoices.
Could your business use the cash that is tied up in your open invoices? Are you waiting to get paid? If the answer is yes, then accounts receivable factoring is your solution. We offer month-to-month financing programs and pay you the same day on your invoices. Give us a call at (800) 707-4845 or fill out the form below to get a free, no-obligation factoring consultation and quote.