Work on Hand (WOH)

Revenue that is earned but never collected due to operational inefficiencies. Common causes include lost field tickets, unbilled equipment hours, forgotten third-party charges, and documentation errors. Industry estimates suggest 1-5% of revenue is lost to leakage in paper-based operations.

A pricing model where the contractor agrees to complete a defined scope of work for a fixed total price, regardless of actual costs incurred.

The average number of days it takes to collect payment after a sale. For field service companies, DSO measures how long between completing work and receiving payment. Industry benchmarks range from 30-60 days.

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.

A breakdown of costs on a field ticket or invoice, separating charges into labor hours, equipment usage, and materials consumed.

A pricing model where work is billed per unit completed (per meter drilled, per cubic meter hauled, per joint welded, etc.).

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.

How to Reduce Field Ticket Rejections: A Subcontractor's Complete Guide

Learn why field ticket rejections happen, what every ticket must include, and proven steps to get oilfield invoices approved faster and protect your cash flow.