Learn about actual and potential costs
How much should I pay for Coiled Tubing Services?
What is the average price of Coiled Tubing Services?
This procurement report includes pricing information to help you purchase Coiled Tubing Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Coiled Tubing Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Coiled Tubing Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Coiled Tubing Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Coiled Tubing Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
ProcurementIQ estimates that there are 920 providers of coiled tubing services in the US market, with the top four vendors accounting for more than 50.0% of revenue. While this is indicative of high market share concentration, the market still maintains strong competition since the majority of the vendors are concentrated... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
How long have you been providing coiled tubing services?
How many wells have you serviced that are similar to mine?
What kinds of coiled tubing services account for the majority of your business?
What is your on-time completion rate for projects such as this one? What is your implementation plan?
Research & Development
What share of your company's revenue is allocated toward research and development (R&D) initiatives?
How have your R&D investments changed during the past three years?
Can you provide concrete examples of how your company's R&D investments helped you provide high-quality and cost-effective coiled tubing services?
What technologies does your company offer that reduce overall environmental impact and cleanup costs?
What kinds of quality control procedures are in place to ensure that you are using the highest quality fluids and chemicals as well as high-quality coiled tubing and machinery?
How many suppliers do you have? How long have you been in a supply agreement with them?
How do you minimize the effects of fluctuations in the price and supply of raw materials?
Do you own or maintain any upstream operations (e.g. fluids, chemicals, heavy machinery manufacturing)?
Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
Are you up to date on applicable government regulations? How do you ensure your technologies and techniques are current with regulatory agencies?
How have you adjusted to new regulations in the market? How have additional compliance costs been handled?
Will you take care of all necessary licensing and permits as well as approvals and certifications from applicable associations?
Are there any other compliance fees for which I am responsible?
What additional services beyond coiled tubing services do you provide?
What share of your revenue comes from coiled tubing services?
Is there a discount for bundling related services with coiled tubing procedures?
Do you offer any warranties or guarantees for your services?
Vendor Financial Risk
What is your company's revenue history during the past three years?
Is your company currently dealing with litigation or facing the prospect of litigation in the near future?
From which markets, regions and services do you derive most of your revenue?
How likely is your company to be merged with another firm or bought out in the near future?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?
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Key elements for every RFP
What should my RFP include?
Buyers should state their total budget allocated to the entire contract.
Buyers should provide an explanation of how additional costs will be handled and the maximum contingency costs being allocated to the project.
If additional services are being requested from the same supplier, buyers should provide a breakdown of their budget and how much of it is to be allocated to each service.
Buyers should assess the potential suppliers' technical approach to the project, using past projects to determine the effectiveness.
Buyers should look at the suppliers past experience on projects similar to the buyer's.
Buyers should compare the proposed costs from each potential supplier.
Buyers should consider the supplier's attention to health, safety and environmental damage.
Buyers should provide a list of key dates that pertain to the RFP process, including the final date to submit questions and bids.
Buyers should provide a list of key milestones that will occur throughout the project, including the first day operations are expected to begin and the date which contracts can be renegotiated and renewed, if applicable.
Evaluate major factors to mitigate risk
How risky is the supply chain?
There is moderate risk associated with the supply chain for coiled tubing services. Key upstream inputs include steel products, trucks and mining, and oil and gas machinery. In particular, the limited number of truck and machinery suppliers poses a constant risk, such as the potential for property damage, environmental issues... Subscribe to learn more.