GLG Network Survey: Drilling Market Overview

Please complete the form below to request access to the survey data.

SURVEY DETAILS

TARGET POPULATION

GLG interviewed 65 senior executives working in the drilling space (onshore and/or offshore) in Americas and EMEA.

What will you learn from this survey?

  • These respondents discussed about their drilling activity and contractual impact in the last 12 months.
  • The survey investigated the impact of COVID-19 on the drilling market and the 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 the most their activity levels for the next years.

Examples of findings:

  • 45% of the respondents mentioned that their drilling activity has decreased by more than 20% in the last 12 months.
  • 63% of the participants have had their contracts terminated/ suspended by clients due to COVID-19, of which 54% have been compensated by their clients.
  • 73% of the sample believe COVID-19 will likely cause an increase/acceleration in digitalisation in their operations (e.g. remote equipment performance data collection and equipment malfunction trouble shooting).

DELIVERABLES

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.
  • In-depth PowerPoint report of survey findings presented by the Network Member via webcast (optional).

SAMPLE QUESTIONS

  • Have you seen a decrease or increase in rig activity over the last 12 months?
  • In order to mitigate client pricing pressures, which initiatives has your company implemented?- options were bucketed and not free text
  • Do you think that the OPEC/OPEC+ agreement and resulting production cuts has had an impact on your drilling activity?
  • How do you think that COVID-19 (and recent variants and developments such as vaccination roll-out) will affect your operations in 2021 vs 2020?
  • Were you compensated by your clients for personnel costs incurred due to contract termination or suspension?- options were bucketed and not free text
  • How do you see your organisation’s capital expenditure budget in 2021?- options were bucketed and not free text
  • Which factors do you believe will most affect your activity levels over the next 1 to 2 years?
  • How likely do you think recent events will lead to new technical innovations regarding rig designs or modifications?
  • How likely will COVID-19 cause price increases for rig related equipment, parts and services?
  • Do you think the commitments announced by major oil companies to reduce carbon emissions will affect future rig activity?

ACCESS

This survey is available to subscribers of the Energy and Industrials (EI) sector (Limited subscriptions and above). 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.

Request other available and upcoming Network Surveys within the sector:

Energy and Industrials (EI)

  • European Airline Executives II New!
    • Second wave to follow the initial survey conducted in August 2020. 50 current executives at European airlines shared their opinions on the impact of COVID-19 and economic slowdown currently and longer term on passenger volumes, routes and air travel prices, how asset values will develop in the future.
    • Questionnaire was drafted by Martin Lynch, former Head of Commercial Finance at EasyJet.
  • Automotive Semiconductors OEMs Suppliers New! ​
    • 80 senior executives working at the main players in the supply chain, including tier 1 suppliers, foundries, equipment manufacturing, and semiconductor suppliers, discussed the current shortage in the market for semiconductors driven by supply chain disruption.
    • Questionnaire was drafted by Hans Rijns, former Senior Vice President, Chief Technology Officer and Head of Research at NXP Semiconductors.
  • Automotive OEMs New!
    • 70 automotive OEMs based in Europe and US discussed electrification trends, COVID-19 impact, competitive landscape for Aston Martin, Land Rover, Range Rover, Jaguar, BMW, Mercedes.
    • Questionnaire was drafted by Bradley York-Biggs, former Managing Director at Aston Martin Lagonda Global Holdings.
  • Lab Testing New! 
    • 70 senior R&D professionals working at large FMCG companies discussed typical R&D budgets, selection criteria for 3rd party lab testing providers and whether or not they prefer in-house testing. They will also provide insight into the strengths and weaknesses of the main providers and impact of COVID-19 on testing requirements.
    • Questionnaire was drafted by Isabelle Decroos, former Group Financial Controller at Eurofins Scientific SE.
  • Mining Equipment II 
    • Second wave to follow the initial survey conducted in May 2020. 50 current mining equipment customers at mining majors, predominantly in North America, South America, and Australia provided their views on equipment OEMs and how they compare across different equipment verticals.
    • Questionnaire was drafted by Arrien Westhuis, former Director of Global Business Development at FLSmidth.
  • Aircraft Leasing Executives + Airline Leads II + Event
    • Second wave to follow the initial survey conducted in September 2020. 70 current executives at commercial aircraft leasing companies globally, discussed about the levels of discounting their airlines customers are asking for.
    • Questionnaire was drafted by Dick Forsberg, former Head of Strategy at Avolon Holdings until March of 2019.
  • Airport Ground Handling II + Event  
    • Second wave to follow the initial survey conducted in June 2020. 50 current executives at ground handling operators, airlines and airport operators in the USA, UK, France and Germany, discussed about the latest trends in the market and the impact of COVID-19.
    • Questionnaire was drafted by Richard van Bruygom, former Head of Strategy, EAS at Etihad Airways, former CEO, Americas at WFS and former President at Swissport.
  • European Packaging 
    • 50 buyers of paper and packaging solutions provided insight into their current packaging needs, trends in the market and future outlook. Specifically, they discussed the shift away from plastics and drivers of this behaviour, likely beneficiaries of this shift (opportunities for alternative types of packaging materials), rate of packaging change in terms of formats / print / SKUs and impact of COVID-19 on different types of fibre- based packaging (on costs / purchasing / supply / pricing mechanisms etc.).
    • Questionnaire was drafted by Chris Brereton, an advisor on the European Paper and Packaging Industry and former COO of Group Business/Operational Strategy at DS Smith Plc.
  • Rolls-Royce Customers
    • 50 buyers of Rolls-Royce engines from aeronautics and defence space discussed about the key trends within the industry and impacts of past economic downturns, outlook on the sector, including underlying risks and opportunities.
    • Questionnaire was drafted by Chris Weir, former Engineering and Technology Executive and Strategy and Business Development Vice Present at Rolls-Royce.
  • Battery Innovation
    • 70 executives across the US and Europe working for an automotive OEM, consumer electronics, grid storage firm (utilities, independent power producers, developers, system integrators), telecom, datacentre, high volume battery manufacturing firm to comment on the latest innovations of lithium-ion batteries and how it is used by different verticals.
    • Questionnaire was drafted by Brian Dillard, former Vice President at Primus Power.
  • Elevator Market
    • 50 experts in the elevator industry across the US and Europe shared current trends and their projections for market recovery after COVID-19 and its impact on both new installations and repairs.
    • Questionnaire was drafted by Robert Williams, owner of Legacy Elevator Advisors LLC.
  • European Refineries
    • 50 high level decision makers at European refineries commented on the future of the industry. The survey investigated the impact that COVID-19 has had on the industry and whether it is expected to bounce back.
    • Questionnaire was drafted by Richard Fullarton, Former Senior Lead at Royal Dutch Shell, and Founder of Matilda Capital Management.
  • Biofuels
    • 75 executives across the globe (focus on the US) procuring feedstock to produce biodiesel, renewable diesel (HVO) and co-processed renewable diesel (HVO) discussed about the company technology, impact of Low Carbon Fuel Standard (LCFS) policy, current trends and future industry outlook.
    • Questionnaire was drafted by David Elsenblast, current President of AgribioConsulting and former VP International Feedstock Development at Renewable Energy Group.
  • Hydrogen + Event
    • 40 users of hydrogen in the energy and industrials industry, as well as manufacturing and construction, discussed about the use of hydrogen and how it can also be used as fuel replacement for green initiatives.
    • Questionnaire was drafted by Brendan Bilton, former Managing Director at Acal Energy.

DISCLAIMER:

Please be advised that GLG Network Surveys operate differently than traditional GLG consultations, surveys, teleconferences, 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.

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 capture in the Network Survey.

Request Access