Interest was overwhelming in the February 2009 report “Customer Satisfaction Declines Sharply During Up Cycle” by EnergyPoint Research Inc., which has redistributed it for those who have not yet had the opportunity to read it.
The past several years were, without a doubt, heady times for the industry. Oilfield suppliers in particular enjoyed a kind of prosperity that even many industry old-timers regarded as nothing short of extraordinary. But growth in demand, and the challenges of serving that growth, clearly took a toll on the service and performance customers received from their suppliers during the period.
In fact, EnergyPoint Research’s Oilfield Customer-Satisfaction Index™ fell significantly, beginning in 2004, hitting its all-time low in mid-2008. Ironically, although not surprisingly, this low-point in customer satisfaction came at the same time the Oil-Service Index (OSX), which reflects the stock prices of publicly traded oilfield-equipment and -service suppliers, reached its historic peak.
Despite enjoying some recent recovery, oilfield-supplier scores still remain conspicuously low.
Comparison with other products and services in the broader economy—as measured by the American Customer-Satisfaction Index—suggests oilfield suppliers’ aggregate ratings currently rank somewhere between those of commercial airlines and the U.S. Postal Service, organizations few consider to be champions of the customer cause.
The full report: The full report, including rankings of how oilfield-service firms have been rated by their E&P customers by category, is available at http://www.energypointresearch.com/Feb%202009%20Special%20Report%20v%201.1.pdf.
About the author: Doug Sheridan is founder and managing director of Houston-based EnergyPoint Research Inc. (www.energypointresearch.com). Prior to founding the firm in 2003, Sheridan held commercial and corporate positions in midstream gas. He can be reached at 713-529-9450 and firstname.lastname@example.org.
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