A complete market outlook including information on how service and supply companies are adapting to the low oil environment; current challenges and opportunities; short- and long-term strategies to survive and thrive; and an industry forecast on what 2016 and beyond has in store for the sector.
After five years of over-investment in the global oil and gas industry, supply out-stripped demand in late 2014, leading to an almost 50 per cent decline in 2015. The service and supply sector has been hit hard as operators try to bring costs in line with current prices.
JWN Energy and partner Grant Thornton have conducted a detailed review of the oilfield service and supply market and an exhaustive survey of service and supply company leaders concluding in mid-January. The study included over 545 survey responses, 100 workshop attendees and 38 interviews, capturing the most comprehensive data on the health of the service industry, both in Western Canada and on a global scale
If you work in the service & supply sector, here's what you will take away from the report:
- Insight into the challenges being faced by the sector in today's lower-for-longer commodity price environment and what opportunities still exist.
- How the industry is responding to cuts in field activity and pricing and how they preparing for an uncertain future.
- How the downturn has affected different sizes of companies servicing different sectors of the industry and what survival plans are currently in place.
- Short to medium term strategies if prices don't improve.
- Solutions on how to diversify and differentiate yourself.
- Opportunities for cost-cutting and improved efficiency Industry forecast and areas of potential growth.
If you're a customer/client of service & supply companies (e.g. in a supply chain management, operations, engineering, or project management role), here's what you will take away from the report:
- Insight into the service & supply sector
- Learn what challenges your contractors are currently facing so that you can better work together to create win-win business relationships
- How is the service & supply sector responding to the low oil environment?
- Are your suppliers planning on diversifying out of the oil and gas industry?
- How are your contractors dealing with pressures to reduce costs?
- Are there opportunities to work more collaboratively?
- Are there less aggressive but equally effective approaches you can take to the traditional cost-reduction request letter?
- Industry forecast: What 2016 and beyond has in store for the service & supply sector and how it will impact you as a customer.
- How the service and supply sector is responding to cuts in field activity and pricing and how they are preparing for an uncertain future.
Download the report here: