A Sea of Discontent

A Sea of Discontent

The wisdom of the masses is a concept that contends information gathered from a group is generally more reliable than information gathered from any single individual within that group.  If so, what is the industry saying en masse about the products used to develop offshore wells—particularly those at greater depths—in light of the Deepwater Horizon incident?

In short, EnergyPoint’s data suggest customers are significantly less satisfied with the equipment and materials available for subsea and deepwater projects than for land- and surface-based applications.  In fact, since 2005, subsea products received the lowest overall customer ratings of all product segments tracked in our surveys. Continue reading “A Sea of Discontent”

The Other Drilling Guys

Directional Drilling Feature Image

The increasing complexity of today’s drilling process places considerable attention on the role of drilling contractors.  However, there are drilling-related services not traditionally provided by drillers that play an equally important role in determining the quality and profitability of a well.

For the purposes of EnergyPoint’s independent surveys, these other services fall into five segments: drilling fluids, fishing, cementing, directional drilling and measurement-while-drilling (MWD). Generally speaking, survey results suggest customers have high regard for the drilling-related services they provide.  In fact, the category’s customer satisfaction scores have outperformed EnergyPoint’s broader index of oilfield products and services since 2004. Continue reading “The Other Drilling Guys”

Wanted: Responsible Oilfield Suppliers

HSE Feature Image

It doesn’t take long for even the most casual observer to understand the role health, safety and environmental (HSE) plays in the relationship between customers and suppliers in the oil and gas industry. Put simply, HSE performance is the first and last factor many consider when selecting an oilfield supplier.

In general, EnergyPoint’s data indicate customers’ satisfaction with suppliers in HSE-related areas remains strong. In fact, the last five years’ HSE scores are materially higher than for other satisfaction metrics. Moreover, despite overall satisfaction hitting a low point in 2006-07, HSE ratings remained in relatively good shape. Continue reading “Wanted: Responsible Oilfield Suppliers”

Getting More of What’s Down There

Getting More of What's Down There

No doubt the ability to maximize well potential is crucial to the oil and gas industry’s future. Companies must complete wells damage-free and seek new ways to enhance them in order to stand apart. Continued progress in well-completions is vital to the industry’s ability to develop its reserves.

This post examines the state of customer satisfaction across various completion-related products and services in our surveys. And generally speaking, survey respondents are pleased. In fact, the data show the category’s ratings have outperformed since 2006. Continue reading “Getting More of What’s Down There”

The Rig Equipment Blues

Dark image of a drilling rig
Today’s wells cost tens or even hundreds of thousands of dollars a day to drill. Thus, few things rankle operators like slowed activity.
 

To limit downtime, the equipment on rigs receives close attention. However, EnergyPoint Research surveys show many equipment providers are missing the mark. There’s room to improve in post-sale support, availability and delivery, and pricing. Without improvements, the status quo will only entice new entrants.

Continue reading “The Rig Equipment Blues”

Knowing the Hole

Since the oil and gas industry’s early days, providers of formation and well evaluation  (FWE) services have helped answer two questions: Are there hydrocarbons down there? And, if so, in what amounts, forms and environments? Gaining the answers with greater certainty and at lower cost is an ongoing pursuit.

Of course, the needs of today go beyond those of past eras. Today’s E&Ps seek and extract deposits held in more complex and unconventional formations. Thus, ever more rigorous, precise and available data—and the equipment and personnel to gather and interpret such data—remains the focus.

Tight Conditions Weigh on Ratings

Image of a thumbs up and thumbs down sign
Global oilfield activity remains buoyed by high long-term commodity prices. But a first look at customer satisfaction in 2008 suggests industry suppliers still struggle to serve ravenous customers.
 

Ratings in the natural gas-driven U.S. & Canadian markets, though low, are stable for the time being. Weaker natural gas prices in the second half of 2007 have helped.

It’s oil-driven international markets that are eroding. Ratings in this segment are down significantly, according to EnergyPoint Research’s 2Q 2008 survey.

Continue reading “Tight Conditions Weigh on Ratings”

NOV + Grant Prideco: A Different Kind of Merger?

NOV + Grant Prideco: A Different Kind of Merger?

History indicates National Oilwell Varco’s (NOV) purchase of Grant Prideco may benefit the latter’s shareholders more than its customers.

Why? Acquisitions of companies with higher customer satisfaction ratings by lower-rated players tend to hurt the purchased company more than help the ratings of the acquirer.

More so, bigger is not always better in terms of execution or customer satisfaction. Some customers like the broader line of products NOV now offers as a result of the past merger between Varco and National Oilwell. However, a number of NOV customers express concern. Continue reading “NOV + Grant Prideco: A Different Kind of Merger?”

What’s Wrong with the Midstream?

Featured midstream image

A feature of EnergyPoint Research’s ratings is that they span numerous segments within the oil and gas industry. We currently publish ratings for contract drilling, oilfield services, oilfield products, and natural gas midstream services. Since our surveys are performed via a standardized process, the data enable fair comparison across segments. This reveals a balanced understanding of how segments and their participants are viewed by customers.

Below are the surveys conducted by EnergyPoint since 2003. The list is in descending order based on the average Total Satisfaction ratings of all suppliers rated in each respective survey: Continue reading “What’s Wrong with the Midstream?”