Tag: oilfield

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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”

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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”

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Tight Conditions Weigh on Ratings

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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”

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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?”

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GE’s Purchase of Vetco Gray: Examining the Impact

GE's Purchase of Vetco Gray (FI) v. 1.00

It would not be surprising if last month’s announcement that General Electric will purchase oilfield equipment maker Vetco Gray sent a collective shiver down the spines of Vetco competitors.

For years, competitors watched Vetco more or less tread water under the ownership of ABB. Private-equity bought the company in 2004 and seemed to hold to the traditional private-equity model of limiting investments to initiatives offering the highest returns and quickest payback. We suspect to see changes at the company now that it is in the hands of a longer-term, more growth-oriented owner. Continue reading “GE’s Purchase of Vetco Gray: Examining the Impact”

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Courting the National Oil Companies

Courting the National Oil Companies Featured Image

By some estimates, national oil companies (NOCs) control an estimated 90% of the world’s proven petroleum reserves. One need look no further than Statoil’s recent announcement to purchase Norsk Hydro’s offshore oil and gas assets, Royal Dutch Shell’s sale of interest in the Sakhalin II project to Gazprom, or the creeping nationalization in Latin America to understand that state-controlled oil and gas companies are poised to grow in size and influence in coming years.

In the past, NOCs sought established international oil companies (IOCs) like ExxonMobil, Chevron, BP, ConocoPhillips and Shell to develop their reserves. Under these arrangements, the IOCs typically handled much of the selection and management of oilfield vendors on behalf of their NOC partners. However, NOCs now appear to be asserting themselves in the process to a greater degree . Continue reading “Courting the National Oil Companies”