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Procurement Market Intelligence Report

Formation Evaluation Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Formation Evaluation Services?

What is the average price of Formation Evaluation Services?

This procurement report includes pricing information to help you purchase Formation Evaluation 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 Formation Evaluation 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 Formation Evaluation 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 Formation Evaluation 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 Formation Evaluation 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 Formation Evaluation Services?

Market share concentration is high for formation evaluation services, with the top four suppliers generating about 65.0% of this market's sales. Market share concentration is high because the market's largest firms, which are diversified oilfield service companies, provide services across the country and globe. As a result, they attract much... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Personnel

What is the size and combined logging experience (in years) of your crew?

What are the specialties of the crew members that will come to my site?

Who will be the primary logging engineer at my site?

When and how often will they review well logs with me?

How will they communicate concerns about log validity to me?

Log Data Format

What are the advantages of the logging software that your company uses?

Is your software proprietary, and does it require translation for use on other suppliers' systems?

Can your company easily transfer log data using the Wellsite Information Transfer Standard Markup Language?

What oilfield service companies involved in well completion are able to work directly with your data?

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Key elements for every RFP

What should my Formation Evaluation Services RFP include?

Project Budget

Buyers should state the total budget for the contract.

Buyers should provide a breakdown of the budget if additional services are being requested.

Buyers should outline details regarding contingency fees and under what circumstances the budget may be exceeded.

Buyers should provide an explanation of how additional costs will be handled, such as transport, housing and other travel expenditures.

Selection Criteria

Buyers should look at the experience of the overall company and the individuals to be assigned to the account.

Buyers should look at past performance on similar projects, taking into account references from past clients.

Buyers should assess the level of accuracy suppliers have achieved in the past with determining the petrochemical composition of a region.

Buyers should consider the fees of each supplier.

Project Schedule

Buyers should provide a list of key dates pertaining to the RFP process, including the final date to submit questions, perform inspections and submit final bids.

Buyers should state the date on which services are to begin, and any key milestone dates throughout the entirety of the contract.

Evaluate major factors to mitigate risk

How risky is the Formation Evaluation Services supply chain?

Supply chain risk is moderate for formation evaluation services. Suppliers face a medium level of risk in procuring several key inputs for their services. For example, procuring well logging hardware, which includes data acquisition hardware, winches and imaging probes like televiewers and full waveform sonic tools, is moderately risky. These... Subscribe to learn more.

HIGH

MEDIUM

LOW