Oklahoma Senate Passes Tax Hike on Oil and Gas

JD8

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It's hard. I had an llc that I worked on the side for years. Most location require you to carry 3-4 million in insurance for everyone on location. That is not cheap. Then people forget that after the states wants more and more money. The Feds are waiting for their cut. It is hard for a mom and pop to make it. I know many who tried.

I'm with ya, I write the insurance on a few wells, some service guys, and some saltwater haulers. Any of the big boys require 5 million minimum to walk on site nowdays.
 

Biggsly

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I'm with ya, I write the insurance on a few wells, some service guys, and some saltwater haulers. Any of the big boys require 5 million minimum to walk on site nowdays.
That figures. When I started I had to carry 4 million, but by the time I got out it was 4 million.
 

cm_osu

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I'm with ya, I write the insurance on a few wells, some service guys, and some saltwater haulers. Any of the big boys require 5 million minimum to walk on site nowdays.
Some might get by with 5m. I wrote $10m excess policies all day long to comply with oilfield MSAs. At least once a month we'd get a request for a 15 or 20m. This wasn't just on what I'd consider high risk contractors either.

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JD8

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Some might get by with 5m. I wrote $10m excess policies all day long to comply with oilfield MSAs. At least once a month we'd get a request for a 15 or 20m. This wasn't just on what I'd consider high risk contractors either.

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Right.... key word I believe.... was.... minimum. Naturally, contractual requirements can be much higher.
 
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