Bob Payne, TRC Sucker RodsBob Payne

President, TRC Services, Inc.
Board of Directors, TRC Services, Inc.
Board of Directors, TRC Rod Services of Oklahoma, Inc.
Board of Directors, TRC Rod Services of Texas, Inc.

 

Q.  Why did you decide to make an investment in TRC?

A.  I had previously been in the sucker rod reconditioning business for 25 years, and I knew we could put together some of the most experienced people in this segment of the oilfield service business.  We all believed in shot peening used rods to relieve stress and add fatigue life to the metal.  We also had some new ideas for improving the inspection process. 

The main reason that I invested in TRC was because of the opportunity to partner with Mike Johnson and Larry Crews, who knew the oilfield service business.  Both had the financial expertise needed for us to be successful.

Q.  How has your investment in TRC turned out?

A.  Very good.  Since January of 1996 our revenue growth has seen a four-fold increase per month, with a customer base of over 300 oil companies.

Q.  What gives you the greatest pride in TRC?

A.  The employees of TRC are the most important part of the success we have enjoyed.  After 11 years, TRC is the only company that shot peens the sucker rod before inspection.

TRC is the only company with a written warranty on its rods for 1 year downhole.  And, we stand behind our warranty.

I’m also proud of the fact that TRC #1 reconditioned rods perform as good downhole as new uninspected rods for 30% of the cost of new rods.

Q.  When you are not working on behalf of TRC, how do you spend your time?

A.  I spend time with church and family.

Q.  If you only had a few moments to tell someone about TRC, what would you say?

A.  TRC has employees with over 450 years of rod inspection experience.  Our plants are the state-of-the art of reconditioning used sucker rods.  Our reconditioned rods perform as good as new uninspected rods but cost 30% less.