A tech solutions provider operating in the oil & gas (O&G) space hired Stax to support their growth strategy by helping better understand growth opportunities in O&G production operations.
Carried out a collaborative working session to gain a thorough understanding of our Client’s current and intended strategic position, define the production operations ecosystem and identify which segments aligned best with their vision.
Used a multi-layer approach, assessing customer needs, market characteristics and potential entry strategies to prioritize market adjacencies to evaluate in more detail.
Applied market attractiveness metrics and synergy metrics to objectively assess each prioritized segment.
Based on findings, Stax prioritized four adjacent markets which provided our Client with a means for expansion as well as an opportunity to mitigate future risk.
We also highlighted the near term opportunity in tech solutions which mitigate the existing challenges faced by O&G producers.
We identified several challenges faced by O&G firms, which made our Client’s plans for expansion within O&G production operations timely.
Furthermore, producers recognized and embraced technology-based solutions as a means to help stabilize and improve oil and gas production operations in this challenged market environment.
Initial findings revealed that Seg B and Seg E were compelling growth markets for our Client where Seg F & G presented sizeable opportunities.
Further research and the market attractiveness metrics highlighted Seg B and Seg F as most attractive for our Client while synergy metrics highlighted Seg E and Seg B as being best aligned with our Client’s existing footprint and strategic vision.