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03-23-2017, 11:05 PM
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Join Date: Jul 2009
Posts: 880
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Contract Operating
Hello everyone,
I am wondering about setting up a business, how much our lovely governments will take, and other expenses aside from vehicle costs, safety tickets, PPE, WCB, food and lodging for being a contract operator.
Please feel free to PM me if you wish.
Thanks
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"I'll give you my gun when you take it from my cold, dead hands" - Charlton Heston, 1923-2008
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03-24-2017, 07:57 AM
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Join Date: Aug 2012
Location: Wakaw SK
Posts: 789
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Plant? Field? Canada wide? Out of country?
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03-24-2017, 10:49 AM
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Join Date: Jul 2009
Posts: 880
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Plant mainly, a bit of field. Alberta only.
__________________
"I'll give you my gun when you take it from my cold, dead hands" - Charlton Heston, 1923-2008
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03-24-2017, 10:58 AM
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Join Date: Aug 2013
Location: The Bush
Posts: 2,795
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Quote:
Originally Posted by smith88
Plant mainly, a bit of field. Alberta only.
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Alot of contractors I know right now have had rates cut so bad that they make the switch to being an employee.
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03-24-2017, 11:07 AM
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Join Date: Aug 2012
Posts: 2,169
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Last year during the restarts in ftmcmurray i talked to contract guys in the 65-75$ range.... and they are getting no benefits or pension. Depending on the company being a contractor makes you pretty disposable.
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03-24-2017, 12:22 PM
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Join Date: May 2007
Location: Fort Sask, AB
Posts: 4,910
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Guys were making silly money 7-8 years ago, $80-$100 per hr, but nobody was hired without 12-15 years of experience.
They were start-up operators of large facilities, permit writers etc.
They were turning down offers of full time op positions to stay contract ops.
Those days are gone, I know a few guys at NW, rates are down, not many others left now.
TBark
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03-24-2017, 12:57 PM
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Join Date: Jul 2009
Posts: 880
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I am not currently working so anything would be welcome. Pay would be $60 per hour but it is in a camp/residence so lodging and food are provided.
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"I'll give you my gun when you take it from my cold, dead hands" - Charlton Heston, 1923-2008
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03-24-2017, 03:56 PM
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Join Date: May 2007
Location: Fort Sask, AB
Posts: 4,910
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If it's offered to you, take it, lots of experienced contract guys are out of work.
TBark
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03-24-2017, 07:47 PM
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Join Date: Feb 2010
Location: ft assiniboine area
Posts: 1,392
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i was an employee for about 20 years and have been contracting for ten years . my advice to you is talk to an accountant . it works for me but i take a minimum personal payment and we live off the wife's paycheck . the other guys that i work with that have to take their whole check into their personal account realize no tax advantage and would be better off as employees . we all compare notes and it seems that every situation is different . as you move money from your business account to personal account you pay taxes !
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03-25-2017, 09:02 AM
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Join Date: Mar 2008
Location: Under your stairs
Posts: 633
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Quote:
Originally Posted by smith88
I am not currently working so anything would be welcome. Pay would be $60 per hour but it is in a camp/residence so lodging and food are provided.
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Id take it even with bad roads ($$ to fix truck) and the higher fuel cost of being farther away. As to your first post off the top of my head I think its around 16% or more you can expect to pay in buisiness tax. Always keep lots of $ in the company and overpay your taxes both company and personal every month so you don't end up owing at the end of the tax year.
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03-28-2017, 10:08 PM
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Join Date: Jun 2008
Posts: 215
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Just a little tip from an old timer smith 88, you seem to be on the right track.
You may have to give a little at the first but make sure you get the job , I call it a baseball game , once your in the ball game ; stay in the ball game but you must first get in the game. Get the experience , never say no in the Oil patch or you'll probably get throw out of the game and tough to get back in. What I mean is working late , working or covering extra days , looking after and respecting the equipment you operate one must prove one's self worth and it takes sacrifice but it will keep you in the game.
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03-28-2017, 10:10 PM
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Join Date: Feb 2017
Location: Edmonton
Posts: 288
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Baseball!!
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03-29-2017, 06:22 AM
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Join Date: Dec 2008
Posts: 2,588
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Quote:
Originally Posted by coyotebutcher
baseball!!
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monday!!!!!! Go jays go!!!!
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03-29-2017, 06:38 AM
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Join Date: Dec 2012
Location: At the end of the Thirsty Beaver Trail, Pinsky lake, Alberta.
Posts: 24,502
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Quote:
Originally Posted by TBark
If it's offered to you, take it, lots of experienced contract guys are out of work.
TBark
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I was offered a few times, could not come to terms, wanted a 5 year contract but only would entertain 1 year snapshots, plus would not agree on money, travel etc...I know these big companies can do it but are very careful with thier cash flow now...the hay days are over
I am at a different stage in my life now but if I was a young man, family, mortgage etc I would set my hooks in deep and ride this low out if offered a contract or perminent position because things will get better...slowly.
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Be careful when you follow the masses, sometimes the "M" is silent...
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03-31-2017, 08:22 AM
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Banned
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Join Date: Jun 2007
Posts: 4,158
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Any good contract operators looking for a few more wells at Rocky Mountain house? Pm me
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03-31-2017, 08:54 AM
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Join Date: Nov 2011
Location: Grande Prairie AB
Posts: 294
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I wouldn't get hung up on the length of the contract they offer you. A contract doesn't really mean a whole lot when you read the fine print. They can terminate it with very little notice. Usually a 15 day notice. Once you get a year or two under your belt then they may offer you a 2-3 year contract. If you do your job and do as your told then there won't be any issues.
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