Without clear ways to standardize your RFQ results, you end up comparing apples to oranges. Often there has been a misunderstanding about what line items to bid on – some may have included freight while others did not. Some set a flat fee for delivery while others charged by the mile.
In an attempt to alleviate those frustrations, RigUp began to work with operators to create job specific templates. These powerful tools augment the bidding and normalization process by giving the service companies specific guidelines. Using a template ensures all vendors are bidding on the same line items, dramatically reducing time spent in the analysis phase.
All of our templates are tagged by product or service allowing you to easily find one that is specific to the needs of your job. If you find that our current templates do not match your company’s requirements we will work with you to create templates specific to your company’s bid.
You may think that this is only beneficial for an operator and that most service companies would rather not use a template. We have found, however, that bid submission rates increased when templates were included on a request. Based on the RFQs of five RigUp operators, those who used templates saw a 13% increase in submission rates.
This increase could indicate that service companies appreciate the elimination of guesswork in the bidding process. They know exactly what the operator is looking for without having to waste time clarifying.
We have not only been able to create templates for tangible goods but also for many complicated services including frac jobs, directional drilling, etc. No matter what the job is, our experienced team of petroleum engineers will create templates that are up to industry standards.
Recently we worked with WPX to create 6 templates for a wide variety of bids. We asked District Production Engineer, Justin Warren what he thought of the process:
Have an upcoming job you want a custom template for? Reach out to us at email@example.com.