Skip to the content

Procurement Market Intelligence Report

Oil Well Fishing Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Oil Well Fishing Services?

What is the average price of Oil Well Fishing Services?

This procurement report includes pricing information to help you purchase Oil Well Fishing 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 Oil Well Fishing 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 Oil Well Fishing 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 Oil Well Fishing 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 Oil Well Fishing 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 ?

The market for oil well fishing services has a moderate level of concentration, whereby the top four vendors account for between 30.0% and 50.0% of revenue. The market is moderately concentrated due to large up-front costs required to operate in this market, which restrict the entry of new vendors. Moreover,... 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?

Regulation

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?

Experience

How long have you provided services such as this to your longest tenured client?

Do you have case studies or client testimonials detailing the services performed? Can we speak to or visit a current client about their experiences?

Tell me about similar projects you have worked on in the past. What challenges did you face and how did you overcome them?

On average, how many years of experience does your staff have in the field of oil well fishing? How does that measure up to the industry average?

Customer Support

Do you offer 24/7 customer account and technical support services?

What is your process for dealing with customer problems and complaints? Do you have an escalation process?

Do clients have dedicated representatives, or will clients have to call a general support line?

How do you evaluate customer satisfaction and how frequently? Is this made available to clients?

Amidst widespread health concerns, 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?

Value-Added Services

What value-added services do you provide? How will including value-added services impact pricing?

Do you offer discounts for bundled services, and if so, what are the terms?

What other services do you provide in-house that you think may be of use to me specifically?

Could you refer me to another firm for related services I may need?

Timeliness

What is your process for working on multiple projects concurrently?

How often do you experience problems with the timeliness of transactions? What is your on-time delivery rate?

What is your average turnaround time for fishing projects of this size?

What priority will this project be in relation to other projects your firm is currently working on? What guarantees can you give to ensure this project won't fall by the wayside if you land a bigger client?

Employees

How do you keep your wage costs under control?

Are there records that show prior training and certifications available for all members of the company?

How long has each member of the team you are proposing for this project been working with you?

What is the average tenure of your employees?

Geographic Coverage

Does your company provide services on a national level or on a local level? What markets do you primarily serve?

Do you partner with any other vendors that offer services in other regions?

Are you capable of supporting a global implementation?

What makes your location more strategic than your competitors'?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

“Sending out RFPs used to be a nightmare”

Let’s chat about how procurement market intelligence can reduce 
the time you spend issuing RFPs.

Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify the total budget.

Buyers should specify the desired payment terms.

Selection Criteria

Buyers should select suppliers that can provide services within their desired time frame.

Buyers should ensure the proximity of suppliers to cut lead times.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers should specify the date when proposals are due and when the award will be announced.

Buyers should specify the desired start date of the service.

Evaluate major factors to mitigate risk

How risky is the supply chain?

There is a moderate level of supply chain risk for oil well fishing services, challenging buyer power to some degree. Key inputs in this market include fishing tools and equipment, such as junk baskets, milling tools and internal and external catch tools. In addition, providers of oil well fishing services... Subscribe to learn more.

HIGH

MEDIUM

LOW