MarkWest Energy top honors in EnergyPoint Research’s 2013 Midstream Services Customer Satisfaction Survey.
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 in 2013, we’re hitting the road to do just that.
EnergyPoint began its Oilfield Perspectives presentation 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
Weatherford International recently reported 1st Quarter 2013 earnings after adjustments that were generally in line with consensus estimates. The following day, the company’s stock price rose more than seven percent. Investors seemed relieved that no additional shoes dropped in the earnings release or conference call. The fact that such rise in stock price occurred on a report of no unexpected bad news says a lot about how Weatherford is currently viewed in the investor community.
Below are our thoughts on what we’ve read and heard from Weatherford recently, both positive and negative, as well as some updated data regarding the company’s customer satisfaction ratings and what they suggest for its new strategic tact: Continue reading
Part 1 of this article discussed background issues at play for the companies in GE Oil & Gas‘ purchase of Lufkin Industries, including the uncharacteristic decline in Lufkin’s customer satisfaction ratings in 2011 and early 2012. It also took a look at the strategic rationale behind the deal.
This second part focuses on what the GE-Lufkin combination prospectively means for customers, with particular attention paid to the perceived cultural fit between the two companies. Continue reading
North American shale continues to rewrite the books, and its potential seems destined to spread globally. Simultaneously, new horizons are being forged offshore — from the ultra-deepwater of the world’s great oceans, to the lower-tertiary depths of the Gulf of Mexico, to the vast unknown of the Arctic. And operators are always looking to squeeze more from existing assets everywhere. All the while, the industry’s ingenuity and resolve is being both tested and showcased.
Given the clamorous state of the industry, maybe it’s not surprising EnergyPoint’s customer satisfaction ratings of oilfield service suppliers are, as they say, “all over the board”. After all, no one contends the demands of this brave new world are easily met. They are not. Everything from the far-flung and nomadic nature of today’s operations to the “big-crew change” lurking in the background suggests plenty of challenges. Continue reading
Despite its relatively small size and narrow focus, Lufkin Industries‘ products are iconic within the petroleum industry. Glance at virtually any photo of a West Texas oilfield, and you’ll likely see at least one gracefully oscillating Lufkin pump jack. The oilfield’s a pretty practical place, but there’s always been something sublime about that particular image.
With its announcement earlier this week that it will purchase Lufkin Industries for $3.3 billion — a rich 38% premium over the previous trading-day’s closing price — GE Oil & Gas obviously sees something inspiring in the shot as well. The industrial giant clearly believes there are strong secular growth prospects in artificial lift applications. Continue reading
The Wall Street Journal recently published an article pointing out that fewer environmental incidents are being recorded now that larger, more experienced operators have begun to supplant smaller ones in Pennsylvania’s Marcellus Shale. While this is certainly welcome news, the industry has reason to remain vigilant in greenfield regions that lack installed infrastructure and/or a pool of trained and experienced personnel.
With this in mind, we thought we’d share an updated version of the “Bad Apple” post we published back in the Fall of 2012. We hope it will serve as a reminder of the potential pitfalls that exist as the industry moves into new regions to develop an ever-expanding set of resources. Continue reading
With so much at stake in today’s oil and gas industry, customers arelooking for both measured authenticity and established competence in their oilfield suppliers. The ability of the current group of top-rated suppliers to perform so consistently well in EnergyPoint’s customer satisfaction surveys is a testament to their commitment to, and talent for, providing a superlative customer experience.
Three of the recently finalized 2012 survey’s four main segment leaders are repeat winners — Helmerich & Payne in onshore drilling, Derrick Equipment in oilfield products, and Ensco in offshore drilling. Newpark Resources captured the top overall ranking in the oilfield services segment for the first time.
In May of last year, we published an article discussing certain constructive developments we saw underway at Nabors Industries. The relatively sanguine tone of the report, which was met with a certain degree of skepticism by some readers, reflected our analysis of changes in both the executive suite and in the company’s stated strategy and plan for execution.
After reviewing the company’s fourth quarter 2012 earnings report, listening to the associated conference call, and examining updated customer satisfaction results, we continue to see Nabors as making strides. Granted, progress has been slower than expected. But EnergyPoint’s customer satisfaction ratings suggest both change and improvement are the overall trend at the company. Continue reading
My father’s friend tells a funny story about when his recently engaged son asked what it was like to be married. In paraphrase, here’s what he told the wide-eyed young man:
Years ago, your mother gave me two neckties as a gift on Fathers Day. As I got ready to go out to brunch later that morning, I decided I’d wear one of the ties to show my appreciation for her thoughtfulness. When I walked into the living room to show her how nice the tie looked, she looked at me, immediately burst into tears, and then ran out of the room. Both surprised and concerned, I followed her to Continue reading