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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 ?

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?

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 many wells have you logged in the formations containing my wells during the past three years?

What are the tools and techniques that work best for logging wells in these formations, and how do you have a competitive advantage in their use?

How long have you offered well logging services?

What percentage of your business stems from well logging?

Investment in Equipment

Who are the primary suppliers of your logging equipment?

At what extremes of depth, temperature and pressure can your equipment make measurements?

How are your logging tools superior to those of your competition?

What was the latest major addition to your logging tool inventory, and when was it made?

How often does your firm make such investments?

Log Accuracy

How do you guard against common causes of data errors (i.e. sticking tools, logging engineer errors, tool rotation and excess logging speed)?

How do you detect equipment malfunction?

How do you proceed after detecting equipment malfunction?

What is the threshold for data flaws that result in rerunning a log?

How do you make corrections to a log without having to repeat the time-consuming process of rerunning it?


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?

Additional Services

How will service integration alter my satisfaction as a customer?

How will my pricing be affected by bundling services?

Why do you think that EnergyPoint Research found that bundling services decreases customers' overall satisfaction?

How does your company have a competitive advantage over competitors that are more diversified or more specialized?

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Key elements for every RFP

What should my 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 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.