The process of tracking all costs associated with a specific job or project, including labor, equipment, materials, and overhead. Accurate job costing is essential for understanding profitability.
Cash FlowGlossary Term
Job Costing
Guides on this topic
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Job Costing for Field Service Companies: How to Know If You're Actually Making Money
A practical job costing guide for oilfield and construction subcontractors. Track labor, equipment, and materials per job to find profit leaks and bid smarter.
From the Field to the Office: What Oilfield Workers Should Know Before Making the Switch
Thinking about moving from field work to an office role? This guide covers how your field experience translates into technical and operations positions, what the transition actually looks like, and the trade-offs most people do not talk about until it is too late.
Related Terms
Alteration
Cash FlowA formal change to an existing contract's scope, timeline, or pricing. Subcontractors must document alterations in writing to protect payment entitlements. Verbal agreements alone rarely hold up during disputes or audits.
Differential
Cash FlowA pay premium added to a base rate for working in hazardous, remote, or demanding conditions. Subcontractors should account for applicable differentials when pricing bids and setting crew rates.
Firm Customers
Cash FlowClients committed to regular, ongoing work under standing agreements or master service contracts. For subcontractors, firm customers provide predictable scheduling and steady revenue. They reduce reliance on spot work and help justify keeping crews and equipment mobilised.
Base Load
Cash FlowThe guaranteed minimum volume of work a client commits to a subcontractor over a contract period. It provides predictable revenue and helps justify keeping crews and equipment on standby. Subcontractors use base load commitments to stabilise cash flow between project spikes.
Fixed-Price Contract
Cash FlowA contract where the subcontractor agrees to complete a defined scope of work for a set price regardless of actual labour, equipment, or material costs incurred — meaning cost overruns come directly out of your margin. Unlike time-and-material agreements, these contracts reward efficiency but expose field service companies to significant financial risk if scope creep or unforeseen site conditions arise.
Backcharge
Cash FlowA charge issued by an operator or general contractor to a subcontractor for costs incurred due to defective work, delays, or failure to meet contractual obligations.
Latest Cash Flow News
Cash Flow
Claremore Data Center Deal Sends $172M to Oklahoma Schools, County
A Beale Infrastructure data center project near Claremore, Oklahoma will pay $172 million in PILOT funds to local schools and county agencies over 25 years, with Sequoyah Public Schools receiving the largest share at $100 million.
3 days agoCash FlowUtilities Tighten Large-Load Tariffs With Upfront Fees, Longer Contracts
A new LBNL and Brattle Group analysis finds utilities increasingly requiring upfront payments, exit fees, and ramp schedules for large-load customers like data centers, a shift that will slow project timelines for grid-tie and on-site generation subcontractors.
8 days agoCash FlowTrump Administration Appeals Ruling Blocking Hudson Tunnel Funding Freeze
The Justice Department has appealed a federal court ruling that barred DOT from withholding funds on the $16B Hudson Tunnel Project, though reimbursements and construction continue for now, ENR reports.
15 days agoCash FlowMammoth Energy Still Owed $20M for 2017 Puerto Rico Storm Work
Nearly nine years after Hurricane Maria, Mammoth Energy subsidiary Cobra Acquisitions is still collecting on Puerto Rico power restoration invoices, with $20 million outstanding as of June 2026, OK Energy Today reports.
1 month agoRelated Guides
Industry Guide
What Is an AFE in Oil and Gas and How Does It Affect Subcontractor Payments?
An AFE (Authorization for Expenditure) controls every dollar spent on an oilfield project. Learn how it affects your billing, change orders, and cash flow as a subcontractor.
Cash Flow GuideWhat Happens to Subcontractor Billing When a Project Stalls, Goes Over Budget, or Never Gets Commissioned
You did the work. The project was cancelled, shelved, or never activated. Here is what subcontractors need to know about billing rights, legal remedies, and how to get paid when no one wants to discuss the invoice.
Cash Flow GuidePost-Completion Warranty and Punch Work: Protecting Your Margins After the Job Ends
Warranty walks, punch lists, and post-completion callbacks eat into subcontractor margins. Learn how MSA warranty clauses work, when you can push back on mobilization costs, and how to document your way out of disputes.
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