In our latest blog, Chris Kennedy, READ Global Sales Manager, says gone are the days when READ may have once been considered direct competition for service companies…these days it’s more about the power of partnership with a shift in how we support and enable fellow service companies to expand into the cased hole logging space.
In 2021, partnerships which successfully combine people, equipment and integration plus being a “Cased Hole Logging Enabler” became our primary focus points and the key driver towards enablement is our truly unique position within the market.
Our services are now predominantly delivered to other ‘partner’ service companies with revenue sources now approx. 20% operators vs 80% service companies.
The most pertinent point here is the 180-degree shift in WHO we enable through our partnership business model. Today, we have successfully repositioned, so we are supporting service companies currently specialising in well intervention technologies. These companies are looking to include a cased hole logging services product line to increase their portfolio offering without the need for investment.
Our partners gain access to all READ’s logging equipment, personnel and services to meet the demands of the local or regional cased hole logging market, while combined capabilities, knowledge and experience maximises service quality and delivers added value.
Flexibility is key
With almost 40 years of knowledge amassed as a company and with more than 170 years of experience among the team, we fall into a rare space in terms of our combined experience and knowledge. Our commitment is towards helping our partners to carve out their place within the market rather than us leading the charge in every situation. The notion of a partnership model which comes from a founding desire to pull in the same direction is, for us, demonstrably successful and means that we can flex as our client needs evolve.
Flexibility will mean many things to many people and their organisations but, when you take it right back to basics, flexibility is best achieved by one thing: agility. They go hand in hand, and one nourishes the other – being flexible makes you agile and being agile empowers you to be flexible. Why? Because when it comes to supplying tools and people to an increasingly global client base, delivering value to the highest standards of customer excellence comes from a foundation of flexible agility.
For us, these cornerstones enable us to step up and step in where a technology gap emerges or where they may be a need to provide additional capacity whether that be tools or people. Key to achieving that nimbly is enablement by looking at each client relationship as a partnership working towards the common end goals of sustainability and growth.
As well as companies having access to our tools, we can train their engineers on how to use them and so that the relationship really is a journey. In the true spirit of partnership and enablement, it often works both ways and we frequently rent equipment from clients, for example. Just recently, we supplied a READ engineer to run someone else’s tools and trained their personnel to run their tools as well as training their personnel to run our tools – and the same applies to equipment where the circle can be completed just as effectively.
In creating that flexible, bespoke service we have also been careful to understand that not everyone will want the same from a partnership. Having a tiered system which reflects many companies’ desires to eventually own their own assets and deliver expertise themselves is another way which correctly accommodates growth aspirations and builds in the flexibility we all need to embrace the future.