Businesses in the Marcellus and Utica Shale region looking to plug in to the drilling supply chain now have a new way to do so. A company called ShaleMarkets.com has just launched a Buyer Sourcing Application which they describe as somewhat similar to a reverse auction–with some important differences. Drillers or other companies in the supply chain post the products/services they want to buy, along with a list of preferred vendors, to the system. ShaleMarkets.com will then contact those vendors and other vendors in the network, not revealing the buyer’s identity, to elicit bids and pass them back to the buyer for a final selection.
Here’s the ShaleMarkets.com announcement detailing the new service and how it works: