Tag: suppliers

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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”

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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”

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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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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?”

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Tight Conditions Weigh on Ratings

Image of a thumbs up and thumbs down sign
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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What’s Wrong with the Midstream?

Featured midstream image

A feature of EnergyPoint Research’s ratings is that they span numerous segments within the oil and gas industry. We currently publish ratings for contract drilling, oilfield services, oilfield products, and natural gas midstream services. Since our surveys are performed via a standardized process, the data enable fair comparison across segments. This reveals a balanced understanding of how segments and their participants are viewed by customers.

Below are the surveys conducted by EnergyPoint since 2003. The list is in descending order based on the average Total Satisfaction ratings of all suppliers rated in each respective survey: Continue reading “What’s Wrong with the Midstream?”

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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”