Tag: quality

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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?”

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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”

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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”

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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”