Tag: performance

Posted on

It’s A Mad, Mad, Mad, Mad Oilfield

Mad Mad Oilfield

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 “It’s A Mad, Mad, Mad, Mad Oilfield”

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

Top-rated Oil & Gas Industry Suppliers

EnergyPoint Header Image

With so much at stake in today’s oil and gas industry, customers are looking 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.

Continue reading “Top-rated Oil & Gas Industry Suppliers”

Posted on

The Emotive Power of Rankings

Emotive Power

In the 1970s, J.D. Power began publishing his ratings and rankings of initial quality as reported by new car buyers. The publishing of these results, which were based on comprehensive independent surveys designed and conducted by his firm, were notable for two reasons.

First, he published the entire set of rankings (i.e., top to bottom, first to last). This was not a common practice in those days, and is still relatively rare today. Second, the rankings consistently showed that U.S. auto manufacturers (General Motors, Ford, Chrysler and American Motors) were putting out products that were markedly inferior in terms of quality and customer satisfaction to those of their foreign counterparts, particularly the Japanese. Continue reading “The Emotive Power of Rankings”

Posted on

Can Weatherford Rise From The Ashes?

Weatherford

With the long-awaited restatement of its financials and resolution of tax issues expected to be completed shortly, Weatherford is looking to put one of the gloomiest chapters in its history behind it. And while the company faces challenges going forward, there’s evidence it could be closer than one might suspect to finding its natural place in the world.

An amalgam of acquired companies that provides everything from contract-drilling services to downhole completion tools, Weatherford has always possessed potential. Even its oilfield competitors acknowledge this. Yet, this potential has continually been arrested by an ongoing string of issues that, in whac-a-mole fashion, never seem to stop popping up. Continue reading “Can Weatherford Rise From The Ashes?”

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

The Supplier Side of Shale

Shale Renaissance: A Look at the Supplier-side

Horizontal drilling, multi-stage fracturing and other innovative technologies have forever changed both economics and mechanics underlying oil and gas development in U.S. onshore markets. Moreover, it’s looking increasingly like these methods will spread to other parts of the globe.

Unlike for certain other segments, suppliers deserve much of the credit for today’s shale renaissance. And that’s not just our opinion. Since 2008, users of oilfield products and services participating in EnergyPoint’s customer satisfaction surveys have rated suppliers noticeably higher for horizontal wells and other shale-related applications. This is the case for overall satisfaction and across multiple product and service attributes.

Continue reading “The Supplier Side of Shale”

Posted on

Watchful Eyes, Everywhere

The Oil and Gas Industry Searches for Ways to Improve

In the wake of the BP Macondo Gulf of Mexico oil spill, the oil and gas industry is, and will remain for years to come, under the microscope. And it’s not only politicians and environmentalists peering through the crude-stained eyepiece. The gawking multitudes this time include the media, investors, John Q. Public, and even industry participants.

Going forward, virtually every move the industry makes (or fails to make) will be subject to efforts to ascertain whether the industry can be trusted.  Will it take the steps needed to improve its performance, stewardship and reputation? Continue reading “Watchful Eyes, Everywhere”

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”

Posted on

Are Today’s Drill Bits Better Mousetraps?

Chart showing drill bit scores by supplier
When oilfield suppliers make outsized claims regarding a new technology or design, we, like many in the industry, can be skeptical.
 
Looking good on paper doesn’t always produce repeatable results for customers. Over-promoted offerings spawn the kinds of high expectations that lead to low customer ratings.

Continue reading “Are Today’s Drill Bits Better Mousetraps?”