Category: Industry Suppliers

Posted on

MarkWest, Williams & Sunoco Logistics Garner Midstream Kudos

EnergyPoint Header Image

As customers in the hotly contested midstream services segment have demanded more reliable operations and deeper product-development capabilities from their suppliers, MarkWest Energy once again has emerged as best-in-class as it captured top honors in EnergyPoint Research’s 2013 Midstream Services Customer Satisfaction Survey. 

The recently announced results cinches back-to-back customer satisfaction victories for MarkWest, which also took first-place overall in EnergyPoint’s midstream survey conducted in 2011. The biennial study, which dates back to 2006, is the leading independently conducted benchmark customer satisfaction study focusing on U.S. midstream service providers.

Continue reading “MarkWest, Williams & Sunoco Logistics Garner Midstream Kudos”

Posted on

The Grapevine – Weatherford Int’l

OIlfield Grapevine

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 “The Grapevine – Weatherford Int’l”

Posted on

Sizing Up GE + Lufkin Industries – Part 1

M&A

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 “Sizing Up GE + Lufkin Industries – Part 1”

Posted on

Positive Change Underway at Nabors Industries

Nabors Industries Featured Image

Are positive changes are underway at Nabors Industries? The company, which currently rates Low overall but is trending Upward in EnergyPoint’s oilfield customer satisfaction ratings, seems to be undergoing a cultural and strategic transformation under the leadership of Tony Petrello, who recently replaced Gene Isenberg as CEO.

As COO, Petrello was seen by many as complicit in the strategies and ways of Isenberg. So, were not sure if these transformational steps Petrello’s own initiative, or if they stem from specific directives from an increasingly proactive board. Continue reading “Positive Change Underway at Nabors Industries”

Posted on

Wellheads & Trees: Consistency a Virtue, Reliability a Requirement

Wellhead and Tree Image

The father of modern scientific method, Sir Francis Bacon, believed consistency to be “the foundation of virtue.” Dramatist and poet Oscar Wilde, on the other hand, saw consistency as the “last refuge of the unimaginative.”

While we do not wish in any way to diminish Wilde’s esteemed position in literary circles, we do suppose it’s a good thing he made his living with a pen and not with the drill bit. Why? Because this much we know: consistency matters in the oil and gas industry.  In fact, it matters a lot. Continue reading “Wellheads & Trees: Consistency a Virtue, Reliability a Requirement”

Posted on

Rethinking Tetra Technologies

Rethinking Tetra Technologies

TETRA Technologies is a good example of how top-level leadership can impact a company. The provider of completion fluids and other oilfield products and services experienced a dramatic 90% stock price deterioration beginning August 2008, as the oilfield supply declined less than 60%. The outsize fall culminated with the resignation of the company’s long-term CEO in March 2009.

Since that time, data from EnergyPoint’s independent customer satisfaction surveys show TETRA has begun to rise from the ashes, earning more positive reviews from customers while simultaneously gaining back more than half its market value. Continue reading “Rethinking Tetra Technologies”

Posted on

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”

Posted on

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”

Posted on

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”

Posted on

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”