The Customer Has Spoken: A Decade of Appraisals

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In 2004, EnergyPoint Research first set out to discern which oil and gas equipment suppliers and service providers work best for their customers and to quantify their experiences. A decade of collecting and analyzing the relevant data has established EnergyPoint as the resolute voice of the oilfield consumer and the only curator of independent customer satisfaction ratings in the industry.

EnergyPoint started its surveys solely with the assumptions that customer focus drives best practices and satisfied customers feed growth. Those facts held steady, and as we culled more industry wisdom from end users, we shared with our readers and subscribers a clearer picture of the critical variables companies can focus upon to create satisfied repeat customers. And we offered insights into how customers can influence the performance of their suppliers. Continue reading

M&A: Customer Friend or Foe? – Part 3

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In Parts 1 and 2 of this article, we examined the role customer dissatisfaction can play in the failure of M&A transactions, as well as the impacts various types of mergers can have on customers. In combination, the pieces presented what we hope is a cogent argument to reconsider, for the sake of both customers and shareholders, corporate combinations as the sector’s seemingly go-to means for achieving growth.

That said, we are not so naive as to assume two posts from EnergyPoint have forever slayed the forces that have made M&A such a popular strategic option in the industry over the decades. More combinations are inevitable. With this in mind, below are some tips for oilfield suppliers on the acquisition trail looking to maintain a customer satisfaction focus and, at the same time, be aware of potential customer-based risks. Continue reading

EnergyPoint Marks 10-yr Milestone with New Award

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Next month it will be 10 years since EnergyPoint Research published its first-ever survey results. The 2004 Wellsite Contractors Survey, now referred to as the Oilfield Services Survey, made quite a stir when it was released. Not only was it unique to the industry in its content, it was ground-breaking in concept as well: autonomously developed performance ratings of oil and gas industry suppliers as seen through the eyes of customers.

Today, EnergyPoint’s ratings are an increasingly important part of the industry’s understanding of how suppliers are doing in terms of satisfying their clients. The global oil and gas industry spends more than half a trillion dollars a year on oilfield products and services. Our mission is to provide market intelligence that impacts the success of suppliers and their customers.

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Ensco, Vallourec, Newpark and H&P Grab Top Spots

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Each of the major segment winners in EnergyPoint Research’s 2013 survey garnered high praise from oilfield customers for their long-standing commitment to quality, performance and customer satisfaction. The annual Oilfield Products & Services Customer Satisfaction Survey, conducted for the last decade, tracks the performance of oilfield suppliers in meeting the needs of the industry. The 2013 results, announced last week, reaffirm three past winners and introduce one new segment leader.

Ensco, Vallourec, Newpark Resources and Helmerich & Payne took top honors in the survey’s four main segments. The results were based on in-depth evaluations from thousands of qualified professionals at domestic and international customers of oilfield suppliers. Continue reading

Top Oil Companies Increasingly Defined by Shale Innovation

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U.S. shale plays may be creating a novel way to measure the new breed of top oil companies. The standard yardstick of worldwide barrels produced per day still evokes names of familiar global players such as Exxon Mobil, Shell and BP, as well as state-owned entities like Saudi Aramco and Petrobras. When gauged by innovation on the frontier of enhanced oil recovery, however, a host of more narrowly focused companies enter the conversation.

The sheer volume of extractable petroleum, and the related economic potential, justifiably dominate shale discussions. The Bakken Shale helped reinvigorate domestic oil drilling, and the Eagle Ford Shale promises to make Texas the eighth largest producer of crude in the world by the end of this year. EOG Resources, a gas company turned top shale-oil producer, has plans to drill 425 wells this year in Eagle Ford. These shales are incubators where today’s new type of top oil company is changing the way we extract hydrocarbons. Continue reading

FMC Technologies An Oil Equipment Company To Watch

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FMC Technologies, a leading oil equipment company, consistently outranks its peer-group average in EnergyPoint Research’s customer satisfaction surveys. The company has grown into a dominant player over the years partly on the strength of a vigorous research and development program that began bearing fruit in time for today’s exuberant revival of subsea drilling and development.

Not a pure customer satisfaction winner, though, FMC’s ratings fall more in line with its oil equipment company cohorts in the subsea segment. Like many of its peers, the company draws lower ratings from some customers for both organizational and equipment performance. And in what might come as a surprise to some, the company rates lower in shelf and deepwater wells, which account for about two-thirds of its business, than for onshore applications. Continue reading

The Low Down on Sizing Up Suppliers

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I recently finished Malcolm Gladwell’s book, David and Goliath. For those who have not read it, the book offers some interesting perspectives on how individuals and groups that possess seemingly little in the way of resources or opportunity can successfully take on more established players by using their size and ingenuity to their advantage.

The book quickly got me thinking about the role of smaller suppliers in the oil and gas industry. In general, if a company or individual has an idea they believe has merit, there’s little that can keep them from pursuing that idea if they desire. There’s also ample oil and gas industry research to suggest that if they are good enough at what they do, customers will (at least eventually) beat a path to their door. Continue reading

Global Shale: Potential Bonanza for Suppliers

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Shale-oil and -gas production in the U.S. has been revered by some as the fuel, engine and vehicle driving the nation toward energy independence and economic solvency. Astronomical estimates of reserves, millions of high-paying new oilfield jobs, enhanced competitiveness for American industry, greater tax inflows for state and federal governments, and incremental export revenues certainly justify the volume of discussion.

Shale has at once become both disruptive and transformative. It’s also here to stay. IEA estimates the share of U.S. shale oil and gas production to double by 2035. Continue reading

M&A: Customer Friend or Foe? – Part 2

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In Part 1 of this series, we discussed how customer defections and dissatisfaction can play very real roles in the under performance (or outright failure) of even the most highly touted corporate combinations. In Part 2, we’ll look at the different types of M&A transactions and the impacts on customers that tend to arise from each.

When it comes to M&A, understanding the legacy attitudes towards customers and customer satisfaction that exist at the acquiring company relative to those at a company being purchased can go a long way in predicting a deal’s eventual impact on customers. Below is a discussion of four different types of M&A combinations and the risk and opportunity they can pose for customers: Continue reading

What’s Going On at EnergyPoint, You Ask?

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As the leading provider of independent research and market intelligence on customer satisfaction in the global oilfield supply sector, EnergyPoint Research is continually updating and improving our approach to serving the needs of our subscribers and the industry as a whole.

So, with the end of another busy year fast approaching, we wanted to bring our readers up to date on some of the exciting developments and initiatives underway here at the firm.

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