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In the Oil & Gas Industry 30 to 90-day pay terms are standard. These long pay terms can add "Cash Flow Stress" to growing companies.

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The Oilfield Factoring Blog

Midland Texas and Permian Basin Oil Activity Heating Up

August 4, 2014 -- With drilling activity on the rise in the Permian Basin, it's all optimism in Midland, Texas. Stretching across 52 counties and over 86,000 miles in West Texas and eastern New Mexico, the Permian Basin has more than 500 active rigs -- that's more than twice the number of rigs in the second-ranked Eagle Ford Shale.

Day in, day out, the Permian is pumping an astounding 1.6 million barrels of oil and accounts for 18% of all oil production in the United States. It's evident. The Permian Basin is quickly becoming the most prolific oil-producing area in the United States.

Drilling activity is expected to remain active in the coming years, and as hydraulic fracturing technology continues to thrive, areas like Midland, Texas, are growing rapidly and showing no signs of slowing down. But with that growth comes many new challenges.

Opportunity for Midland Texas Oilfield Suppliers

In the Permian Basin, demand for qualified oilfield service professionals is at an all-time high. In places such as Midland, Texas, the flood of money and workers into the area is almost impossible to miss. Water haulers, rig movers, oilfield truckers and other oilfield suppliers are flocking to Midland, Texas to cash in on the once-in-a-lifetime opportunity.

Often start-ups and many times strapped for cash, small to midsize oilfield suppliers in Midland, Texas, are quickly discovering the challenges that come with growth and success in the oil patch. Pay terms as well as the competitive nature of the oil and gas industry, can be quite unpredictable. 30- to 90-day pay terms are extremely common, which create cash flow stress on growing businesses. And in the booming market, oilfield suppliers need to have enough cash flow in place to grow rapidly. Looking for ways to finance operations, and as an alternative to traditional bank loans, oilfield suppliers are thriving using TCI's oilfield factoring services.

Oilfield Factoring for Midland Texas and Permian Basin Oilfield Suppliers

When a smaller or growing company struggles with cash flow issues, TCI's oilfield factoring programs serve as a lifeline for oilfield service professionals. TCI Business Capital's oilfield factoring services ease oilfield supplier stress by giving oilfield suppliers the working capital that is tied up in their accounts receivable.

TCI Business Capital provides instant cash for oilfield invoices. By paying cash for invoices, TCI Business Capital gives oilfield suppliers the operating capital needed to explore opportunities in the Permian basin. As a result of using TCI's oilfield factoring services, oilfield suppliers are able to obtain the cash they need to get caught up on bills, make equipment purchases and take advantage of the once-in-a-lifetime oil and gas boom.

Click here to learn more

History of Invoice Factoring

Factoring's origins lie in the financing of trade, particularly international trade. Factoring Companies were in fact a part of business life in England prior to 1400, and then came to America with the Pilgrims, around 1620. Invoice Factoring appears to be closely related to early merchant banking activities. The latter however evolved by extension to non-trade related financing such as sovereign debt. Like all financial instruments, Account Receivable Factoring evolved over centuries. This was driven by changes in the organization of companies; technology, particularly air travel and non-face to face communications technologies starting with the telegraph, followed by the telephone and then computers. These also drove and were driven by modifications of the common law framework in England and the United States.

Originally Factoring Companies took physical possession of the goods, provided cash advances to the producer, financed the credit extended to the buyer and insured the credit strength of the buyer. By the twentieth century in the United States the use of a Factoring Company was still the predominant form of financing working capital for the then high growth rate textile industry. In part this occurred because of the structure of the US banking system with its myriad of small banks and consequent limitations on the amount that could be advanced prudently by any one of them to a firm.

Today Accounts Receivable Factoring Companies are still dealt with the task of advancing funds to smaller to mid sized rapidly growing firms who sell to larger more creditworthy organizations. While almost never taking possession of the goods sold, Factoring Companies offer various combinations of money and supportive services when advancing funds.

Why use a Factoring Company?

Factoring Accounts Receivables is a method used by some firms to obtain cash. Certain companies factor accounts when the available cash balance held by the firm is insufficient to meet current obligations and accommodate its other cash needs, such as new orders or contracts; in other industries, however, such as textiles, Oil & Gas and Trucking, for example, financially sound companies factor their accounts simply because this is the historic method of finance. The use of a Factoring Company to obtain the cash needed to accommodate a firms immediate cash needs will allow the firm to maintain a smaller ongoing cash balance. By reducing the size of its cash balances, more money is made available for investment in the firms growth. Accounts Receivable Factoring is also used as a financial instrument to provide better cash flow control especially if a company currently has a lot of Accounts Receivables with different credit terms to manage. A company sells its invoices at a discount to their face value when it calculates that it will be better off using the proceeds to bolster its own growth than it would be by effectively functioning as its "customer's bank. Accordingly, Invoice Factoring occurs when the rate of return on the proceeds invested in production exceed the costs associated with Factoring the Receivables.

TCI Oilfield Business Capital is the leading source of Oilfield Factoring Services for the Oil and Gas Industry. TCI Oilfield Business Capital provides Oilfield Invoice Factoring and Oilfield Accounts Receivable Factoring solutions for small to mid-size companies in the Oil and Gas Industries.

What is Oilfield Accounts Receivable Factoring? Accounts Receivable Factoring is a transaction where an Oilfield Service Company sells (Factors) its Accounts Receivables, or invoices, to an Oilfield Factoring Company in order to improve cash flow. With Oilfield Invoice Factoring, the Oilfield Service Company will have immediate cash available for payables, payroll, maintenance, or improving equipment. Oilfield Accounts Receivable Factoring is not a loan, and therefore no debt is incurred.

Oilfield Factoring is often referred to by other names including; Oilfield Account Factoring, Oilfield Accounts Receivable Factoring, Oilfield Business Factoring, Oilfield Factoring Services, Oilfield Receivable Factoring, or Oilfield Invoice Factoring.

Invoice Factoring is different from a bank loan in two significant ways. First, the Accounts Receivable Factoring Company places the emphasis on the value of the Receivables, the firms credit worthiness or fixed assets. Secondly, Accounts Receivable Factoring is not a loan it is the purchase of a financial asset (the Receivable). The Receivable is a financial asset associated with the debtors Liability to pay money owed to the seller for work performed or goods sold. The seller sells its invoices (the Receivables) at a discount to the Oilfield Factoring Company to obtain the cash needed for day-to-day operations.

Oilfield Factoring transfers ownership of the Receivables to the Invoice Factoring Company. The account debtor is then notified of the sale and then remits payment directly to a lockbox designated by the Oilfield Factoring Company.

An Oilfield Factoring Company may provide other mission critical services including credit analysis, risk assessment, a/r management, billing, collections, treasury and 24/7 web reporting.

There are three integral parts to an Invoice Factoring transaction.
1. The fee, this is the amount an Oilfield Factoring Company will charge you for the service. Most Oilfield Factoring Companies will charge you a Factoring fee also known as a service charge as well as interest based on how long it takes the debtor to pay.
2. The advance, this is the percentage of the face value of the Oilfield Invoice you will be paid upon submission of that invoice.
3. The reserve, this is the remainder of the total Oilfield Invoice amount held until the payment by the account debtor is made in full.

TCI Oilfield Business Capital is a leading Oilfield Factoring Company. TCI Oilfield Business Capital provides Invoice Factoring services to a wide variety of small to mid-sized companies.

TCI Oilfield Business Capital has earned a reputation for providing world-class service to companies who need Accounts Receivable Factoring for their businesses. When searching for Invoice Factoring Companies, look no further than TCI Oilfield Business Capital.

Banks often call their Factoring programs Factoring loans. Don't be confused with this statement because Factoring your Oilfield Accounts Receivables is not a loan. Accounts Receivable Factoring is simply the sale of your invoice at a discount to an Invoice Factoring Company.

Are you interested in learning more about Invoice Factoring with TCI Oilfield Business Capital?

Call today and talk to one of our Oil and Gas Factoring specialists. Our specialists will give a free consultation on how Oilfield Invoice Factoring can help your business succeed. With TCI Oilfield Business Capital there is no red tape to cut through or bureaucratic maze to navigate.

TCI Oilfield Business Capital makes the Invoice Factoring application process simple and straightforward, and what's more, TCI Oilfield Business Capital can get you approved in just 5 minutes.

TCI Oilfield Business Capital - Industries Served

  • Acidizing & Cementing
  • Flowback Testing
  • Pipe Hauling
  • Slickline Services
  • Aggregate
  • Fly Ash
  • Pipe Construction
  • Spill Clean Up
  • Conductor Services
  • Frac Sand Haulers
  • Pipeline Inspection
  • Tank Manufacturers
  • Crude Haulers
  • Frac Tank Cleaning
  • Pit Clean Up
  • Testing Services
  • Disposal Wells/Sites
  • Gravel Haulers
  • Plugging Contractors
  • Vacuum Trucks
  • Drillers
  • Gravel Pit/Suppliers
  • Pneumatic
  • Water Haulers
  • Drilling Equipment Suppliers
  • Hot Shots
  • Pressure Washing
  • Water Purification
  • Environmental Clean Up
  • Logging
  • Refinery Maintenance
  • Welding
  • Equipment Hauling
  • Mud Hauling
  • Rig Movers
  • Well Servicing
  • Equipment Rentals
  • Open Pit Services
  • Rig Transportation
  • Winch Trucks
  • Excavating
  • Open Tank Services
  • Road Construction
  • Wireline Services
  • Excavators
  • Pad Builders
  • Rousabouts
  • And Many More
  • Fishing Services
  • Paraffin Services
  • Scoria Pit/Suppliers
  • Flatbed Carriers
  • Pipe Cleaning
  • Site Preparation
  • Sometimes securing an Oilfield Factoring Line can be a challenge because of the unique nature of your business. We offer a variety of creative Oilfield Factoring solutions to companies providing a wide range of services to the Oil & Gas Industry. We take pride in understanding the needs of our clients and working with them to meet their goals.

    TCI Oilfield Business Capital customers provide Olfield service work to these companies, and more:

  • Anadarko E & P
  • El Paso E & P
  • Marathon Oil
  • Sandridge E & P
  • Anadarko Petroleum
  • Encana Oil & Gas
  • Marathon Oil EF
  • Sanguine Gas Exploration
  • Anschutz Exploration
  • Endeavor Energy
  • Matador Production
  • Sheridan Exploration
  • Apache Corp
  • Enerplus Resources
  • Mewborne Oil
  • Slawson Exploration
  • Bill Barrett Corp
  • Enervest Operating
  • Mull Drilling
  • SM Energy Company
  • BP America
  • EOG Resources
  • Nadel & Gussman
  • Southern Bay
  • Brigham Oil & Gas
  • Escondido Resources II
  • Newark E & P
  • Stovall Operating
  • BTA Oil Producers
  • Exco Resources
  • Newfield Exp Mid-Con
  • Strat Land Exploration
  • Burlington Resources
  • Exxon Mobile
  • Newfield Production Co
  • Summit Petroleum
  • Burnett Oil
  • Fasken Oil & Ranch
  • Noble Energy
  • SWEPI
  • Cabot Oil & Gas
  • Fidelity E & P
  • Oasis Petroleum
  • Talisman Energy USA
  • Callon Petroleum
  • FIML Natural Resources
  • OXY Permiam
  • Three Rivers Operating Co
  • Carrizo Oil & Gas
  • Forest Oil
  • OXY USA
  • Trio Consulting
  • Chesapeake
  • Goodrich Petroleum
  • OXY USA WTP
  • True Oil
  • Chevron
  • Hadaway Consulting
  • Parsley Energy
  • Unit Petroleum
  • Choice Exploration
  • Hess Corporation
  • Petrohawk Operating
  • Vaalco Energy
  • Cimarex Energy
  • Hilcorp Energy
  • Petro-Hunt
  • Valence Operating
  • Citation Oil & Gas
  • Holmes Exploration
  • Pioneer Natural
  • W & T Offshore
  • Clayton Williams Energy
  • Hunt Oil
  • Plains E & P
  • Wagner & Brown
  • CML Exploration
  • Jetta Operating
  • QEP Energy
  • Wexpro Co
  • Cobra Oil & Gas
  • Jones Energy
  • Quicksilver Resources
  • Whiting Oil and Gas
  • COG Operating
  • Kerr McGee Oil and Gas
  • Range Resources
  • Williams Production
  • Conoco Phillips
  • Laredo Petroleum
  • RKi E & P
  • XTO Energy
  • Continental Resources
  • Lewis Petro
  • Rosetta Resources
  • Yates Petroleum
  • Crimson Exploration
  • Lime Rock Resources
  • Sabine Storage
  • And Many More
  • Dan A Hughes
  • Linn Operating
  • Samson Lone Star
  • Denbury Onshore
  • Mack Energy
  • Samson Resources
  • For more information on TCI Oilfield Business Capital, please call 800.707.4845

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