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 →
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 →
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 mergers and acquisitions. In Part 2, we’ll look at the different types of M&A combinations 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 the 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 →
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.
National Oilwell Varco (NOV) operates just about everywhere oil and gas is extracted, enjoying a hearty share of the market for integrated oilfield equipment. Yet global reach and a wide-ranging portfolio of products do not necessarily translate to a better customer experience — for NOV or its competitors.
EnergyPoint’s most recent survey data suggest NOV’s customer satisfaction ratings, while certainly competitive within its peer group, have slowly trended down as the company logged lower scores in various segments. To be fair, ratings for manufacturers of capital drilling equipment remain below average industry-wide. However, NOV has been sliding from its previous perch. Continue reading →
EnergyPoint has collected tens of thousands of customer evaluations of oilfield suppliers over the years. The goal’s been to provide the industry and its stakeholders with greater transparency and understanding of oilfield suppliers’ performance for customers. The fact you and others are reading this post suggests there’s more than a passing interest in the subject.
Having stuck to our process for such a long while, we’ve definitely developed some valuable insights. Importantly, we’ve deciphered how and why highly rated oilfield suppliers rank above competitors. But we’ve also come to understand how oilfield customers can influence supplier performance as well. Here are the five ways that stand out to us: Continue reading →
One of the more frequent questions we’ve gotten over the years has to do with the impact mergers and acquisitions have on customer satisfaction in the oil and gas industry. It’s an important question, one deserving of a thoughtful response.
With apologies to our many readers and friends who make their livings buying and selling companies (or helping others do the same), we note that plenty of evidence has been compiled over the years that suggests the majority of mergers and acquisitions, when objectively examined, are not successful. Continue reading →
Having collected and analyzed tens of thousands of evaluations and over half a million data points related to oilfield supplier performance and customer satisfaction since 2003, EnergyPoint Research has a lot to share. So, we’re hitting the road to do just that.
EnergyPoint began its Oilfield Perspectivespresentation series in early 2013. The series features Doug Sheridan, managing director and founder of EnergyPoint Research, discussing the latest ratings, rankings, trends and implications from EnergyPoint’s independent customer satisfaction surveys in a uniquely compelling, informative and thought-provoking manner. Continue reading →
Conceptualizing, fabricating and installing the labyrinth of integrated systems and equipment required for today’s massive subsea projects are some of the most complex tasks in the oil and gas industry. Without question, the daunting challenges at these depths contribute to the historically low customer satisfaction ratings for subsea products we have observed in our surveys over the years.
Although not the market-share leader in the space, Cameron International has recently been dynamic in its efforts related to increasing the profile of its subsea offerings, most notably advancing the depth and breadth of its capabilities via its OneSubsea joint venture with Schlumberger.
A lot of life is about expectations. When expectations are not met, we tend to react negatively. Business is the same way. While it might feel good to make lofty claims concerning the reliability, value or benefit of our products or services, if doing so leads to unrealistically high customer expectations, we’re doing ourselves and our customers a disfavor.
One of the questions EnergyPoint gets most often concerning its survey results is why certain oilfield suppliers perceived as having strong technology fare so modestly, or even poorly, in our annual customer satisfaction rankings of oilfield suppliers. The answer has to do with who’s setting the customers’ expectations around the technology — the company or the market place? Continue reading →