Learn about actual and potential costs
How much should I pay for Underbalanced Drilling Services?
What is the average price of Underbalanced Drilling Services?
This procurement report includes pricing information to help you purchase Underbalanced Drilling 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 Underbalanced Drilling 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 Underbalanced Drilling 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 Underbalanced Drilling 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 Underbalanced Drilling 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 ?
There are an estimated 186 suppliers of underbalanced drilling services in the United States. The top four providers account for roughly 35.0% of total market revenue, indicating a moderate level of market share concentration. Market share concentration is moderate primarily because market leaders operate on a large scale and perform... 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 years has your company been a supplier of underbalanced drilling services?
How have your operations progressed and changed during the past decade? What has been the most significant change?
Can you provide a list of clients with similar operations to mine that can be contacted as a reference?
What is your experience with different soil conditions? How often do you work on wells that are similar to mine in geological terms?
What actions do you take to ensure your company is up to date with all federal and local regulations that are applicable to my operation?
Has your company, or a past client, faced legal issues as a result of failing to comply with a law? What was the result?
What type of training do you provide for your employees to avoid being noncompliant?
Can you provide proof that your employees hold all the certifications required by law?
What type of safety training does your company provide your staff? How often does your staff receive additional or refresher training?
Do you have employees dedicated solely to maintaining a safe work environment?
When was the last accident that occurred on a project your company was contracted for? What was the result?
On average, how often do accidents occur and what is the average severity of these accidents?
How have cost fluctuations for key inputs affected the price of your services in the past three years?
What key input has the largest effect on the price of your services?
What steps do you take to mitigate the risk of sudden cost fluctuations?
What do you expect to have the most significant influence on the price of your services during the next three years?
What methods does your company use to attract and retain clients?
How does your company maintain a competitive edge in the market?
What sets your services apart from your competitors?
Why are your prices more or less expensive than your competitors'?
Has your company ever been at risk of bankruptcy? What did your company do to improve the situation?
How does your company stay profitable during economic downturns or during times of low demand?
What large investments is your company planning to make in the near future?
What are the most significant factors that affect your company's profitability? How does profitability affect the price of your services?
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Key elements for every RFP
What should my RFP include?
Buyers should specify their total budget.
Buyers should specify the desired payment terms.
Buyers should provide an explanation of how additional costs will be handled, such as travel expenditures.
Buyers should ensure the proximity of vendors to reduce lead times.
Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating service providers.
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?
The supply chain for underbalanced drilling services exhibits a moderate level of risk overall, which is a challenge to buyers. Suppliers depend on fuel dealers in order to operate their machinery and transportation vehicles. As domestic oil production has risen, providers of underbalanced drilling services have had little difficulty obtaining... Subscribe to learn more.