In the land-based drilling segment, Helmerich & Payne (NYSE:HP) once again received the top customer satisfaction marks in the survey. H&P’s honors came as customer satisfaction for land-based drillers a whole, a segment comprised primarily of North American players, declined compared with last year as rig count and drilling activity, which tend to move inversely to customer satisfaction, rose over the course of the year.
Ensco also rated first internationally, including in the Asia & Pacific Rim and North Sea regions. The London-based driller received some of its highest marks ever in the survey despite a year in which offshore contractors were forced to balance a host of operational, economic and regulatory factors.
“Ensco’s assets are generally better maintained than their peers. It makes a difference in lower NPT [non-productive time].” – Drilling Engineer, Large Independent E&P
“The company runs its operations well. Over the course of my career, I have found that Ensco provides a consistent [level of] service across most of its regions.” – Drilling Supervisor, Supermajor E&P
Other winners in the offshore drilling segment include Noble Drilling (NYSE:NE), which placed second to Ensco overall, Pride International (NYSE:PDE), and Rowan Drilling (NYSE:RDC). Noble rated first with multinational E&P customers, while Pride took top honors in three separate survey categories: deepwater drilling; non-vertical wells, and; in Latin America & Mexico. In a repeat of last year’s results, Rowan ranked first for high-pressure high-temperature, or HPHT, wells.
H&P Sets the Standard Among Land Drillers
“H&P has a great management team and works very well with our company. I consider them first-class in HSE and [the company] is very much aligned with our policies.” – Drilling Supervisor, Supermajor E&P
“Very good overall service with quality people and equipment.” – Drilling Supervisor, Large Independent E&P
Precision Drilling (NYSE:PDS), the only other land driller to receive a top regional rating, rated highest in Canada.
EnergyPoint Research’s 2010 survey was the third in a row of its independent studies in which H&P dominated the standings for land-based drillers. H&P’s customer satisfaction scores continue to reflect a culture and business model characterized by discipline, engineering and operational excellence, and proven technology.
The company clearly sets the standard for performance and professionalism and has over the years effectively raised the bar for other land-based drillers, many of which continue to transition to business models and technology that, not coincidentally, look and feel like H&P’s.
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EnergyPoint’s contract drilling survey was conducted as part of the firm’s annual industry-wide study, which this year was comprised of more than 4,100 in-depth evaluations performed over 24 months by qualified professionals at domestic and international customers of oilfield suppliers. The survey succeeds similar industry-wide studies conducted and published by EnergyPoint Research going back to 2003.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.