Market Intelligence for Today's Global Energy Industry
Market Intelligence for Today's Global Energy Industry
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EnergyPoint Research, Inc.
713-529-9450
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HOUSTON (May 17, 2023) – EnergyPoint Research, the leading provider of independent customer satisfaction ratings for the oil and gas industry, has released the final results of its 2023 Oilfield Products Customer Satisfaction Survey. The survey, which covers dozens of major products suppliers worldwide, is based on evaluations by oil and gas professionals who use and depend on these products and services.
The survey reveals that Dril-Quip, a Houston-based manufacturer of drilling and production equipment and specialty tubular products, is the top-rated products supplier for the second year in a row. In addition to capturing the top rating overall, the company also earned the top scores in subsea wellheads and trees, risers and flexible joints, subsea equipment, harsh-environment applications, connections and couplings, and three additional categories.
Core Laboratories, driven by ratings for its perforation and other downhole products and technologies, again placed second overall. The company ranked first in five categories, including performance and reliability, perforation equipment, completion packers, onshore applications and two additional categories. Cactus Wellhead, Pason Systems and Ulterra rounded out the top five in terms of total satisfaction.
Top Five Providers: Total Satisfaction
Doug Sheridan, Managing Director and founder of EnergyPoint, commented on this year’s results, “The 2023 survey reflects a return to more normal times in the oilfield products market. That means customers are looking for products that deliver reliable performance and reduce costs. Many top-rated suppliers used the last few years to invest in areas that both enhance their products’ capabilities and value propositions–and it shows.” Sheridan added, “We congratulate all of this year’s winners for their resilience and commitment to customers in particularly trying times.”
Listed alphabetically, companies rating first in at least one category in the survey include:
Top Five Performance & Reliability
Top Five: Availability & Delivery
The following companies were also evaluated in the survey, listed alphabetically: Aker Solutions, Archer, Baker Hughes, Expro, Flowserve, Forum Energy Technologies, NESR, Tetra Technologies, Weatherford International and Worldwide Oilfield Machine.
Sheridan noted, “This year’s study suggests a handful of relative up and comers are making their presence felt in the oilfield. These include Cactus Wellhead, Ulterra and Varel, all of which rated first in at least one category. Should their peers hesitate as they assess the future of the oil and gas industry, they might find these newcomers taking market share. To be sure, the industry continues to hold significant opportunity—especially for the best of the best—for many years to come.”
The global survey utilized more than 40 questions to measure customers’ satisfaction with oilfield product suppliers. Covering the period ending December 31, 2022, the survey focused on aspects understood to drive the customer experience, including pricing and contract terms, performance and reliability, engineering and design, availability and delivery, personnel, post-sale support, digital oilfield and big data, and corporate capabilities. Respondents we also asked to evaluate suppliers across multiple product categories, applications and well types. All responses were based on evaluators’ experience with the suppliers over the last 24 months.
Final survey results reflect opinions collected through more than 4,200 customer evaluations concerning major oilfield product suppliers worldwide. For those categories and companies in which qualifying ratings exist, evaluations from EnergyPoint’s 2020 and 2021 surveys were included in this year's category‑winner calculations at lesser weightings. In no case were 2020 and 2021 survey results assigned a weighting of more than 20 percent on a combined basis for purposes of calculating this year’s final ratings and rankings.
Full survey results are available in EnergyPoint’s 2023 Ratings & Analysis Report. The publication includes detailed ratings for all rated companies, with analysis of trends and drivers of customer satisfaction as revealed by the survey data. Inquiries regarding the report, as well as promotional rights and programs for top-rated companies, should be directed to info@energypointresearch.com or +1.713.529.9450. Information can also be found at the following online locations:
Ratings & Analysis Reports: www.energypointresearch.com/detailed-reports
Licensing and Promotional Policy & Program: www.energypointresearch.com/licensing
EnergyPoint Research is an independent firm that specializes in customer satisfaction and other research in the global energy industry. The firm has published annual customer satisfaction ratings and rankings in various segments, including land drillers, offshore drillers, oilfield products, oilfield services, and midstream services since 2003. To learn more about EnergyPoint and its independent surveys, please visit the company’s website at www.energypointresearch.com.