GLG Network Survey Tracker: Drilling Market III
Please complete the form below to request access to the survey data.
GLG surveyed 50 senior executives working in the drilling space (onshore and/or offshore) globally. This is the third wave in this tracker series.
What will you learn from this survey?
- This survey revisited topics explored in the first waves of the Drilling Market Overview Tracker, providing a wave-by-wave outlook on the industry.
- The research investigated the impact of COVID-19 on the drilling market and respondents’ projections for the short and medium term.
- Lastly, respondents commented on initiatives taken to mitigate client pricing pressures and factors they believe will affect their activity levels the most for the next years.
Examples of findings:
- In this last iteration, most experts (72%) mentioned their rig activity has increased in the last 12 months.
- 78% of the experts mentioned that the rig rates have increased by at least 5% in the last 12 months, up by 56% from August 2021.
- More than half of our experts (54%) stated that their companies have terminated office/base personnel as a result of the COVID-19 pandemic.
The GLG Surveys team drafted the questionnaire with the support of GLG Network Member, Roger Hodgson, former Commercial and Marketing Director at Weatherford Drilling International.
The standard deliverable includes:
- 1 x Individual responses (“raw data”) in Excel.
- 1 x PPT report with aggregated data.
- Executive summary with key takeaways and highlights from the raw data.
- Have you seen a decrease or increase in rig activity over the last 12 months?
- Have rig rates changed significantly over last 12 months?
- Have you seen any change in client contractual preferences in the past 12 months?
- Has your retiring/scrapping of assets been affected in the past 12 months?
- Do you think that the Covid-19 pandemic will have/has had a permanent negative impact on your drilling operations?
- Which factors do you believe will most affect your activity levels over the next 1 to 2 years?
- How likely will the current climate cause consolidation of drilling contractors?
This survey is available to subscribers of the Energy and Industrials (EI) sector. This offer includes the raw data file and a high-level presentation through PowerPoint. Please contact your GLG representative for details on your firm’s access.
Please be advised that GLG Network Surveys operate differently than traditional GLG consultations, surveys, teleconference, etc. and it is advisable that you consult with your firm’s legal and/or compliance department to review your use of the product and the payment for such work under your current subscription. Availability of this Network Survey is also subject to your firm’s compliance requirements. Please also note that some respondents may not be Network Members, and the Terms and Conditions of Network Membership would not apply to such respondents and detailed records for them will not be available aside from the information that GLG captures in the Network Survey.
By downloading this document and/or participating in the Network Survey, you understand and agree that the information and material provided by GLG, including survey results and survey proposal information, is provided for your own insight and informational purposes only. You further acknowledge and agree that this is a Network Survey for multiple GLG clients, and the results will be provided to all GLG clients that agree to participate in the Network Survey and GLG clients that agree to purchase the Survey results in the future. All survey results do not constitute investment advice or a recommendation. In using this Survey, you agree to hold Gerson Lehrman Group and the Survey respondents harmless and free of all liability as a result of your use of this Network Survey, other than liability resulting from the gross negligence or wilful misconduct of the protected party. You otherwise agree to be bound by Gerson Lehrman Group’s Usage Policies in your interactions with Gerson Lehrman Group and your receipt of services. These Survey results are for are for client’s own use and client shall not redistribute, disseminate, publish, or display the same, in whole or in part, to any third parties or publicly without the prior written permission of Gerson Lehrman Group, except explicitly set forth in your agreement with GLG. This survey will be double-blinded to both client and respondent. GLG reserves the right to restrict the number of clients that can pre-commit access. These Network Surveys are priced outside of standard GLG subscriptions but at a substantially reduced price to commissioning a fully proprietary GLG Network Survey. Upon finding these terms acceptable, please send an affirmative confirmation via email, which GLG will file in its records. Once confirmed, please note that the Client’s agreement to purchase the Network Survey is a legally binding and irrevocable commitment. If the survey is not included within your subscription, GLG will invoice Client for the fees due for the Network Survey. Please note that some respondents may not be Network Members, and the Terms and Conditions of Network Membership would not apply to such respondents and detailed records for them will not be available aside from the information that GLG captures in the Network Survey.