"Derrick Equipment Rates First in Customer Satisfaction"
HOUSTON (February 3, 2010) – Oilfield equipment and material suppliers Derrick Equipment, Sumitomo Metals Pipe & Tube, and Smith International captured the top three spots in EnergyPoint Research’s 2008-09 comprehensive Oilfield Products Survey on customer satisfaction in the industry.
The independent survey, which is a successor to a similar study conducted by EnergyPoint Research in 2007, measures customers’ satisfaction with oilfield equipment and materials suppliers across a range of attributes and product categories. Evaluations were collected from customersof suppliers operating in multiple oil and gas producing regions, both in North American and international markets.
Derrick Equipment, a maker of shale shakers and other drilling fluids management equipment and systems, finished first overall in the survey and also took top honors in the category of solids control equipment. This dual distinction was also achieved by Derrick in 2007.
Additionally, Derrick rated first in various other categories: engineering and design; performance and reliability; product availability and delivery; post-sales support; rig-related equipment; land land-based applications. The company also placed first with both larger and smaller customers, as well as in North America and International markets.
“As has been the case in other surveys we’ve conducted, suppliers that are focused more narrowly on specific products and product categories tended to receive higher overall satisfaction marks from respondents than those with more fully integrated, or less focused, offerings,” said Doug Sheridan, managing director of EnergyPoint Research.
“Derrick Equipment continues to post impressive scores, as survey respondents have clearly found the company and its products to be up to the task. Overall, the company registered some of the highest satisfaction ratings we’ve seen in any of our studies.”
When it comes to oil country tubular goods (OCTG), Sumitomo Metals Pipe & Tube dominated the standings. Not only did the company rate number one in all three segments comprising the category of OCTG, it also gained top marks for high-pressure high-temperature (HPHT) and harsh environment applications. Its ratings were strong across most markets, as the company captured top rankings inside the U.S. and Canada as well as internationally.
The company’s ratings for engineering and design and other organizational and product attributes were also very strong.
Smith International placed third in the survey overall, driven by first-place ratings in a number of key categories, including: drill bits; downhole motors; fishing tools; tight sand and shale applications; and harsh environments. As in 2007, Smith was also the top-rated integratedproduct provider in the survey.
Other companies rounding out the survey’s top half, listed by descending overall rank, were:
Lufkin Industries, which rated first in the categories of artificial lift and production equipment
the Frank’s companies Davis-Lynch, which rated first in the categories of cementing equipment and downhole drilling equipment
CapRock Communications, which rated first in the category of communications and networking
Newpark Resources, which rated first in the category of drilling fluids products Scientific Drilling
M-I SWACO
Halliburton, which rated first in the categories of cements, completion fluids, production
chemicals and completion packers
Oceaneering International, which rated first in the categories of subsea umbilicals and controls, and ROVs
Wood Group
Caterpillar, which rated first in the category of engines
Dril-Quip, which rated first in the categories of subsea wellheads and subsea risers
LeTourneau Technologies, which rated first in the categories of integrated rigs and top drives V&M Tubes
Gardner Denver
“The biggest opportunity and challenge for suppliers of oilfield equipment and materials are the tremendous stress and strain that today’s equipment and products must endure,” noted Sheridan. “As customers continue to push the limits in their efforts to find and recover new sources of oil and gas, industry suppliers need to ensure that their offerings not only perform to specifications, but can do so in increasingly inhospitable environments.”
A total of 33 companies received the minimum number of evaluations required to be included in the survey. Companies ranking in the bottom half of the survey overall, listed alphabetically, include:
Aker Solutions
Baker Hughes
Cameron International, which rated first in the categories of surface wellheads, surface BOPs, flow control equipment , and subsea manifolds, flow lines and connectors
Champion Technologies
Expro International
FMC Technologies
Forum Oilfield Technologies
GE Oil & Gas, which rated first in the category of subsea BOPs
National Oilwell Varco, which rated first in the category of drill pipe
Omron IDM, which rated first in the category of rig instrumentation and controls
Schlumberger, which rated first in the categories of perforating guns and proppants
Tenaris
Tesco
US Steel
Weatherford International, which rated first in the categories of rotary steerable systems, sand control equipment, and intelligent sensors and controls.
The Oilfield Products Survey was conducted as part of EnergyPoint Research’s 2008-09 industry-wide Oilfield Products & Services Survey, comprised of more than 3,800 in-depth evaluations performed in 2008 and 2009 by domestic and international customers of oilfield suppliers. Respondents from both multinational and independent E&P companies and drilling contractors from all parts of the globe were represented in the Oilfield Products Survey.
For the Oilfield Products Survey, suppliers were evaluated in the areas of total satisfaction, pricing and contact terms, performance and reliability, technology, job quality, safety and environmental, service and professionalism and corporate capabilities, as well as across various domestic and global regions. For categories in which pre-2008 supplier ratings existed, historical ratings were included in the calculations at lesser weightings. In no case were historical ratings assigned a weighting of more than 20 percent for the purposes of calculating category winners.
About EnergyPoint Research, Inc. EnergyPoint Research provides independent research regarding the oil and gas industry’s satisfaction with the products and services it purchases and utilizes. Founded in 2003, the firm offers oil and gas industry professionals and their employers opportunities to both provide and access confidential ratings and customer feedback in areas important to oilfield product and service suppliers through objective and independent evaluation processes. For more information regarding EnergyPoint Research and its surveys and data, visit the company’s website at www.energypointresearch.com or contact the company at info@epresearch.com.