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.
These days, talk of rig equipment often begins and ends with National Oilwell Varco (NOV). Yet, while no other company matches its scope, the talk is not always positive.
Our ratings for NOV and its legacy companies–National Oilwell and Varco International–go back to 2005. All register in the bottom quartile. Low scores for availability and delivery and post-sale support stand out.
But NOV is not the only integrated capital equipment provider, just the largest. Others include LeTourneau Technologies, Forum Oilfield Technologies, and Global Energy Services (previously IDM Equipment).
LeTourneau seems the best able to challenge NOV over time, with high marks for ease of install, operation and maintenance. It also garners plaudits for accountability after the sale.
Niche players are even better positioned. Derrick Equipment’s shale shakers and solids control systems post strong ratings. Cameron International, M-I Swaco and Caterpillar also enjoy sound marks.
