Enverus Intelligence® Research Press Release - Haynesville operators calculate remaining growth

Haynesville operators calculate remaining growth

CALGARY, Alberta (Nov. 19, 2024) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its annual Haynesville Play Fundamentals that examines the distribution of remaining inventory across the play using economic viability.

The report leverages Enverus analytics to assess the prospective quality of the emerging Western Haynesville play. Additionally, it uncovers the call on Haynesville rigs, same-zone and across-zone well interference and the economic advantages of longer laterals in the Haynesville.

“We estimate the Haynesville has 12.5 years of sub-$3.00/Mcf inventory at last year’s turn-in-line (TIL) cadence,” said Jimmy McNamara, principal analyst at EIR. “This drops to 10.5 years when modeling EIR’s 2026 TIL cadence that increases Haynesville supply by 2.0 Bcf/d to match incoming LNG demand.”  

McNamara continued, “A select few companies boast 15 years or more of sub-$3.00/Mcf inventory and 10 years of sub-$2.75/Mcf. This runway of high-quality inventory puts them in the best position for long-term sustainable growth, in our opinion.”

“Most producing wells in the Western Haynesville are targeting the Bossier and Haynesville at depths of 15,000’ to 19,000,” added Adrienne McDougall-Bell, analyst at EIR. “We’ve currently assigned limited inventory in the Western Haynesville due to it being in the early stages of development.”

Key takeaways from the report:

  • The Haynesville has 12.5 years of sub-$3.00/Mcf inventory at last year’s turn-in-line (TIL) cadence. This drops to 10.5 years when modeling EIR’s 2026 TIL cadence that increases Haynesville supply by 2.0 Bcf/d to match incoming LNG demand.
  • A select few companies boast 15 years or more of sub-$3.00/Mcf inventory and 10 years of sub-$2.75/Mcf. This runway of high-quality inventory puts them in the best position for long-term sustainable growth, in our opinion.
  • Most producing wells in the Western Haynesville are targeting the Middle Bossier or Lower Bossier at depths of 15,000’ to 19,000’. EIR currently assigns limited inventory in the Western Haynesville due to it being in the early stages of development.

Play Fundamentals is an EIR research series that dives into a key geographical basin or technology. A collective series, with each play updated annually, it includes inventory estimates, technical research, interactive maps, investment opportunities, macro trends and basin analytics. The reports empower readers to make intelligent connections and, overall, more informed investment, operating and strategic decisions. It is considered the most in-depth research EIR offers and among the most-read analysis series in the energy industry.

EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research, Placed Wells Analytics, Enverus Forecast Analytics, Enverus Spacing and Enverus Geoscience Analytics.

View Report Here

You must be an Enverus Intelligence® subscriber to access this report.

About Enverus Intelligence® Research
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers and more than 40,000 suppliers. Learn more at Enverus.com.

Enverus Intelligence® Research Press Release - Opening New Mexico’s Delaware Basin and the potash problem palliated

Opening New Mexico’s Delaware Basin and the potash problem palliated

CALGARY, Alberta (Nov. 19, 2024) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released a report that explores the resource potential of the Known Potash Leasing Area in the Delaware Basin of New Mexico. EIR dives into regulatory hurdles, potash operator mine workings and the quantification of inventory quality and depth within the area.

“Drilling restrictions stemming from potash mining in New Mexico’s portion of the Delaware Basin have traditionally been viewed as a notable challenge for operators in the area,” said Shili Yang, EIR research associate and author of the report. “Our assessment concludes that the challenges are more manageable than previously thought, as advancements in drilling technologies, increased cooperation between potash miners and oil producers, and permitting of drilling islands help open up formerly risked-off drilling locations in parts of Lea and Eddy counties to oil and gas development.”

“Our updated analysis has added an incremental 1,000 well locations that break even at $50/bbl or less, increasing by 4% our estimate of remaining drilling sites in the Delaware Basin,” Yang said.

Key takeaways from the report:

  • Parts of the Delaware Basin in New Mexico formerly were considered off limits for drilling because of potash mining operations. Energy companies and regulators recently have made significant progress through cooperative development agreements, permitting of drilling islands and long-lateral development.
  • EIR increased by 4% its estimates of remaining drilling locations in the Delaware Basin that break even at or below $50/bbl WTI.
  • Several energy companies will gain hundreds of drilling sites because of EIR’s reassessment. 
  • EIR’s estimates of remaining drilling sites have since increased by several hundred locations for multiple energy companies.

EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research and Placed Well Analytics.

View Report Here

You must be an Enverus Intelligence® subscriber to access this report.

About Enverus Intelligence® Research
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers and more than 40,000 suppliers. Learn more at Enverus.com.

energy-transition

Power Precise Energy Transition Decisions With Enverus Foundations® | Carbon Innovation

The energy transition and the drive toward net zero have created a nascent market where investment opportunities, regulations and risks evolve daily. This new investment landscape lacks the track record of success and failure that stakeholders rely on to guide capital intensive decisions. To adapt and move in the fast-moving transition market, you need innovative tools to power breakthrough thinking and precise decisions.

Enverus Foundations® | Carbon Innovation is the culmination of seven years of development, data curation, and research by Enverus. From stunning UI of Enverus PRISM®, access energy transition specific analytics and datasets, calibrated and validated by the Enverus Intelligence® Research team. Foundations for Carbon Innovation puts the actionable insights you need at your fingertips to navigate, derisk and find the right investments in decarbonization technologies. With a broad focus on the entire molecule-based energy transition landscape, Foundations for Carbon Innovation is poised to revolutionize how stakeholders evaluate project viability and make informed decisions.

What Foundations for Carbon Innovation Means for You

Foundations for Carbon Innovation delivers a seamless and mature platform with multifaceted benefits wherever you are in the energy value chain.

  • Financial services – Foundations for Carbon Innovation empowers investors and bankers by delivering up to date, verified insights on carbon innovation projects, powering well-informed decisions on resource allocation and project viability. It provides both a detailed evaluation of individual projects and the macro-level market trends, ensuring investments align with successful projects.
  • Operators – Operators can leverage Foundations for Carbon Innovation’s daily updates and analytics to streamline decision-making and optimize asset management. Forecast market dynamics, repurpose existing infrastructure and diversify revenue streams by efficiently identifying viable offset projects.
  • Midstream – Foundations for Carbon Innovation empowers midstream companies with comprehensive and up to date insight into rapidly evolving energy transition projects. Supported by decision-ready data and analytics, midstream companies can strategically align resources, repurpose or construct pipelines, and ensure smooth new energy investments as the market works to provide more energy while decarbonizing.
  • Oilfield services – Foundations for Carbon Innovation enables OFS companies to stay ahead in a competitive landscape by identifying potential partners and assessing which markets to enter. This market intelligence streamlines resource allocation and ensures resilience in rapidly shifting market conditions.

Learn More about Foundations for Carbon Innovation 

The Molecule-Based Energy Landscape

While hydrocarbon-based energy remains a crucial part of the energy mix, the race to net-zero is driven by innovations in carbon capture, utilization and storage (CCUS), hydrogen, biofuels and other emerging technologies. With more than 500 million tons per year of announced CCUS capacity, the demand for efficient commercialization strategies has never been greater. However, only a fraction of these projects move beyond the planning phase, largely due to regulatory bottlenecks, uncertain economics and infrastructure challenges.

Foundations for Carbon Innovation provides the necessary insights to navigate uncertainty and take the next best step in energy transition and decarbonization markets, offering a clear view of project status and potential success.

Current State of Carbon Markets

While the voluntary carbon market remains in turmoil, CDR based markets are gaining momentum and volatility with credit prices for CO2 removal soaring to over $1,000 per ton for direct air capture (DAC). Driving prices higher is a 30 billion ton supply gap by 2050 and a 27% compound annual growth rate in demand. As a result, DAC and bioenergy with carbon capture and storage (BECCS) transactions have risen to $1.3MM and $4.7MM, respectively.

Regulatory Support and Bottlenecks

93% of the more than 2,000 CCUS projects announced are in 46 policy friendly countries, yet as ambitions around decarbonization have grown, the momentum has slowed. In the United States, key provisions introduced in 2022’s Inflation Reduction Act are still pending full implementation, delaying tax credits
and projects.

Foundations for Carbon Innovation alongside our industry leading Intelligence team delivers critical insights into the varying state and federal policies that influence project timelines, particularly regarding permitting and pore space ownership. With delays in EPA approvals and state-specific challenges, Foundations for Carbon Innovation helps users identify regions with favorable regulatory environment and avoid potential bottlenecks.

Beyond CCUS: Broadening the Scope With Hydrogen and Bioenergy

While CCUS is a cornerstone of the energy transition, Foundations for Carbon Innovation also covers emerging technologies such as hydrogen, biofuels and direct lithium extraction. These innovations are essential for decarbonizing hard-to-abate industries and ensuring a diverse, resilient energy landscape. By consolidating data across multiple technologies, Foundations for Carbon Innovation offers a holistic view of the energy transition, enabling stakeholders to diversify their portfolios and capitalize on new markets.

More than just a data and analytics platform, Foundations for Carbon Innovation is the intelligence engine powering critical insights into new opportunities in the energy transition. Whether you are an investor, operator, midstream company or OFS provider, Foundations for Carbon Innovation equips you with the tools and insights required to de-risk moves in the market, pinpoint viable projects and filter down to the real opportunity set on the journey to net zero.

Learn more about how Carbon Innovation Foundations is revolutionizing the way upstream, midstream and Wall Street analyze and execute energy transition strategies.

Book a Demo With an Expert Today

energy-transition

Natural Gas-Fired Screening – Benchmarking Prime Development Regions

Natural gas power plants have become increasingly attractive to investors, due to rising load growth expectations and the need for reliable grid balance. With coal plant retirements and a surge in intermittent generation, natural gas is critical for ensuring adequate supply. To guide this interest, Enverus Intelligence® Research (EIR) has created a market screening analysis that ranks U.S. regions based on factors such as forward power prices, gas feedstocks and power demand growth, helping investors identify top areas for natural gas development.

As part of the market screening analysis, EIR uses spark spreads—a measure of the difference between electricity market prices and the cost of natural gas in generation—as a key indicator of profitability for natural gas plants across ISOs. Spark spreads reflect the gross margin between fuel costs and electricity revenue. The market-implied spark spreads through 2031 shows the lowest average spark spreads in ISONE and CAISO, at $15/MWh and $16/MWh, respectively, while SPP and WECC record the highest, at $37-$38/MWh. These insights help evaluate market profitability and guide natural gas investment decisions across regions.

How Enverus Beats Public Data

Understand the benefits of up-to-date renewable and traditional power project tracking with Enverus Power & Renewables

As the process to successfully build profitable renewable assets becomes more challenging, the need for accurate and up-to-date data on the power grid is needed more than ever. Asset owners, developers, engineers and suppliers need to comprehend the power market at scale to be able to make well-informed decisions in a time where the smallest misunderstanding in data can lead to project failure. 

Project data is published across many different websites and in a variety of formats. It can be laborious and inefficient to gather it and make the necessary connections independently. Usually, companies end up relying on a few respected organizations as their source of truth. Commonly trusted sources are independent system operator (ISO) interconnection queues and reports from the U.S. Energy Information Administration (EIA).  

But what happens when this data is not published in a timely manner or is published with incorrect information? Opportunities can be missed, leading to delays in project development, increased costs and losing out to competitors. In an industry where timing and precision are crucial, missing key opportunities can mean the difference between success and failure in securing new projects or investments. Those working in the energy industry need to feel confident in the data they are working with to stay ahead of their competition and set themselves up for the best opportunities. 

This is why many businesses in power markets are turning to trusted data partners to access the most up-to-date and reliable information. However, not all data is created equal, and when millions of dollars are on the line, it’s critical to work with a partner that can deliver the highest quality data with confidence.  

Enverus stands out as the only provider offering the most comprehensive, analytics-ready data, with broader project coverage and delivering more value across the power markets than any other energy data provider. Additionally, Enverus has a dedicated team of analysts across the world who not only parse through data and make connections but also apply their own expertise to uncover insights and enhance the value Enverus provides. Every source is cross-checked and verified before the data is integrated into the Enverus PRISM® platform.  

The team of analysts makes new updates to the dataset every day from major sources like ISO queues, EIA, FERC, utility queues, PUCs, IRPs, RFPs and more. Enverus also goes beyond traditional data sources by tracking information published in less formalized methods, such as reading news articles from across the country and integrating the information, engaging in project contact outreach and searching for project-specific websites.  

In addition to public sources of information, Enverus has also built models to track physical project construction via satellite imagery that allows for better timelines and more exact coordinates. It accurately tracks key project events including land clearing, solar panel installation and the completion of panel installation. Because of our in-depth tracking across many sources, we are often able to find updates in a timelier manner or even improve upon conflicting or unclear information.  

The Amite Solar Project in Tangipahoa County, Louisiana

The Amite Solar Project in Tangipahoa County, LA, first entered the MISO Interconnection Queue in July 2017 and was immediately added to the PRISM platform by our analysts. MISO reported this project as under construction in November 2019; however, there was no physical construction seen in satellite imagery to confirm this status change. In March 2024, Enverus analysts found a news article that confirmed NextEra had just broken ground on the project. Using this news article and satellite imagery as confirmation, Enverus was able to provide a more accurate picture of this project’s development timeline and projected operating date. In this instance, relying solely on MISO information would have resulted in confusion over where this project was being constructed and incorrect assumptions over the length of the construction period. 

Incorrect timeline data from public sources can easily mislead developers, EPCs, suppliers and asset owners, derailing project expectations and significantly affecting long-term opportunity planning. These missteps can lead to delays, cost overruns and missed contracts, including critical PPAs, putting the entire project’s viability at risk. 

The Hopkins Solar Project in Hopkins County, Texas 

The Hopkins Solar Project in Hopkins County, TX, first entered the ERCOT Interconnection Queue in April 2019. Over the next four years, Enverus continually tracked changes to the commercial operation date, capacity, status and involved companies via the ERCOT Interconnection Queue, public documents, news articles, and Texas Chapter 313 applications. Minor land clearing was seen via our in-house solar imagery tracking system in the second half of 2022. In February 2023, major construction was detected. At this point, Enverus changed the project status to under construction. ERCOT does not provide under construction status updates, so this is a value add from Enverus. EIA does provide under construction status information; however, Hopkins Solar was not added to the EIA 860m report until April 2024 – over a year after construction had kicked off. The project was reported to be operational by ERCOT the following month. In this instance, relying solely on EIA results in extremely outdated data that is published too late to result in any business opportunities. Relying solely on the ERCOT Interconnection Queue results in a decent understanding of the project, but key details like exact coordinates, construction status and suppliers would not be available. 

Enverus - RatedPower Press Release - RatedPower expands efficiency and precision with solar project design software release

RatedPower expands efficiency and precision with solar project design software release

MADRID, Spain (Nov. 14, 2024) — RatedPower, a part of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing new software updates aimed to further assist solar developers, engineering, procurement and construction firms giving them greater flexibility in designing photovoltaic (PV) plants. RatedPower is a one-stop cloud-based solution for PV plant design and engineering. More than 4,300 solar professionals in more than 160 countries use their solutions. In addition to optimizing processes, with today’s announced software updates, users can now access advanced financial metrics to select the most profitable designs.

The software empowers users to simulate project proposals within seconds, seamlessly compare options and export detailed technical documents — all with remarkable efficiency. Going beyond traditional PV, RatedPower supports integrated project elements, including energy storage, interconnection facilities and transmission lines, offering unmatched ease and flexibility. Users also benefit from enterprise-grade data security and protection, ensuring that each project is safeguarded to the highest industry standards. RatedPower is the only solution fully integrated with PRISM®, Enverus’ hallmark energy decision-making platform, allowing users to combine PRISM’s extensive, analyst-reviewed renewables data with RatedPower’s automated PV design methodology. This integration enables users to quickly identify ideal project locations and create optimized PV plant designs in minutes.

“RatedPower gives us a lot more control than what we normally have with an external consultant. That flexibility over the product and site design is really important to us. Designs are so flexible, and we were able to do them in a fraction of the time,” said Tyler Caron, Business Development director with Carolina Solar Energy, a RatedPower customer.

When customers utilize RatedPower, they find they are reducing time spent designing and engineering PV plants by more than 90% and lowering the levelized cost of energy (LCOE) by 5% with efficient and integrated project development. One independent power producer (IPP) reported a significant reduction in design time after switching to RatedPower software. Previously, they spent 1-2 days creating designs in AutoCAD, but now they complete the same task in just 20-30 minutes. The software’s quick design capabilities are particularly useful for feasibility studies, comparing designs and reviewing BoQs.

Key updates from the software release:

  • Advanced financial metrics: RatedPower users can now easily set the energy sales price and obtain accurate revenue calculations. With new options to optimize financial planning, key KPIs such as NPV, IRR, ROI, payback, and discounted payback can be used. These tools enable more detailed and informed evaluations to improve profitability and make informed decisions.
  • Flexibility in area design: RatedPower offers greater control in designing available and restricted areas in photovoltaic plants. Users can customize names and colors, and adjust interactions between fences, roads and structures based on the specific needs of the land. Additionally, with various fence options, they can enhance the accuracy of their estimates and increase efficiency in design.
  • Fast CAD file import: Users of the platform can now import CAD and SHP files in just a few clicks, working seamlessly in modules such as topography, substations and transmission lines. This functionality eliminates manual creation errors and saves time in file conversion, thanks to more accurate and faster selection of the Coordinate Reference System. This improves design precision and streamlines the workflow in one place.

About Enverus
Enverus is the most trusted energy-dedicated SaaS company, with a platform built to maximize value from generative AI, offering anytime, anywhere access to analytics and insights. These include benchmark cost and revenue data sourced from more than 95% of U.S. energy producers and more than 40,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing. Our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.

About RatedPower 
RatedPower helps companies discover the smartest ways to design and engineer utility-scale solar PV plants and maximize their potential through their software to automate and optimize the study, analysis, design and engineering of photovoltaic plants and their electrical infrastructure in all its stages. RatedPower has helped design more than 55 TW in more than 160 countries. Bringing value to developers, IPPs, contractors, investors and manufacturers, helping them make better decisions, democratizing engineering knowledge and boosting the deployment of solar plants worldwide. Learn more at RatedPower.com.

Enverus Press Release - No pain, no gain: Short-term headwinds for natural gas could bring beneficial long-term tailwinds

No pain, no gain: Short-term headwinds for natural gas could bring beneficial long-term tailwinds

CALGARY, Alberta (Nov. 13, 2024) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released its updated natural gas outlook through 2035. The report provides comprehensive insights into the global natural gas supply and demand forecasts, examines the impact of renewable adoption trends on gas demand, and explores the implications for LNG markets.

“EIR expects short-term headwinds for natural gas pricing but long-term tailwinds for the commodity,” said Al Salazar, a director at EIR and lead author of the new report.

“We see natural gas supply risk as skewed toward underperformance and demand skewed toward outperformance. Our updated view is informed by our Global Scout network and our more granular approach to renewable adoption.”

Key takeaways from the report:

  • EIR’s updated supply view suggests a lack of future proposed projects to feed the global demand for natural gas.
  • EIR foresees Qatar and Saudi Arabia driving gas production by 2028 to feed incremental demand as U.S. production flattens.
  • The LNG market is forecast to be oversupplied 2025-27 and short gas 2028-30, driven by EIR’s refined global supply view.

EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research.

View Report Here

You must be an Enverus Intelligence® subscriber to access this report.

About Enverus Intelligence® Research:
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.

bA

Energy Stakeholders Meet in New Mexico to Address Key Permian Basin Issues

Energy Stakeholders Meet in New Mexico to Address Key Permian Basin Issues

Last month, stakeholders from across the energy sector gathered in New Mexico to tackle the pressing issues facing the Permian Basin. Among the wide-ranging discussions, three key themes emerged: the electrification of the basin, potential and challenges for production growth, and the environmental and political risks tied to ongoing operations. Below are some key takeaways.

Electrification

During a polling session, the majority of attendees highlighted power grid reliability as the top priority for infrastructure development in the Permian, closely followed by pipeline expansion.

Question: Which area of infrastructure development in the Permian Basin should be prioritized to support future growth? 

Power grid limitations have long been a challenge, but the increasing focus on energy transition, especially the growing demand from data centers, has pushed this issue to the forefront. Operators, who already contend with common oilfield downtime, and data center stakeholders, who demand even more reliable power, are both pressing for improvements.

According to Enverus Intelligence® Research (EIR), power demand in the Permian is projected to more than double by 2040, with an average annual load growth of 5.74% if 65% electrification is achieved by 2050. The urgency for new grid infrastructure and power generation investments was palpable among those in attendance. Without these upgrades, significant strain on grid reliability is expected. A managing partner from a private equity firm cleverly dubbed this challenge “midstream by wire,” comparing it to the infrastructure hurdles faced by the midstream sector.

Question: What is the primary barrier to widespread electrification of energy operations in the Permian Basin?

Production Growth

Another focus of discussion was the imminent resource expansion, particularly in the secondary zones and edges of the Delaware. EIR estimates that top operators in the basin have about eight years of Tier 1 inventory remaining. While not immediate, plans for future growth are already in motion. Technology advances, such as longer lateral lengths, have already boosted production, and these innovations are expected to help operators unlock Tier 2 acreage as well.

Question: As operators focus on resource expansion to increase inventory life, where will they be most successful?

However, midstream infrastructure will need to catch up to sustain this growth. The Blackcomb pipeline is expected to support production for several years, but a potential mismatch in timing looms with five FID pipeline projects still in development. If not addressed, there could be a bottleneck in takeaway capacity before the decade’s end. Panelists emphasized the need for stronger alignment between operators and midstream stakeholders to ensure growth continues smoothly.

Question: What is the single most significant challenge for maintaining or increasing gas production in the Permian Basin over the next five years?

Environmental and Political Risks

Environmental and political risks were a hot topic, with many attendees identifying these as the biggest challenges facing the Permian. Unlike infrastructure problems, these issues can’t be solved with more capital. There is a growing concern that private capital is hesitant to invest due to the increasing regulatory pressures and environmental risks.

Question: What is the biggest challenge facing operators in the Permian Basin today?

Produced water regulations and new setback requirements are among the issues slowing down operations. EIR data also highlights the Permian’s high super-emitter incident rate (0.95%), significantly exceeding other regions like the DJ Basin and Marcellus/Utica.

Question: What is the most pressing environmental concern in the Permian Basin today?

The Environmental Protection Agency and producers are actively addressing this with advanced monitoring technologies, but more work is needed.

Question: Which emission reduction strategy do you believe will have the greatest impact in the Permian Basin?

Conclusion

Over two days of discussions in Santa Fe, it became clear that the industry faces significant hurdles, but solutions are already in the works. Infrastructure for electrification, production growth, and environmental challenges will all require collaboration between operators, regulators and investors. Events like Energy Dialogues provide a critical platform for sharing successes and finding common ground to tackle these shared challenges.

About Enverus Intelligence® | Research

Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. See additional disclosures here.

About Energy Dialogues

Energy Dialogues is proud to be a top networking facilitator for the North American and global energy sectors.

Committed to our goal of stimulating forward progress within the energy industry, we offer our clients and members indispensable insights and expertise from international energy leaders representing all sectors—commercial, policy and regulatory.

Enverus Press Release - Heightened natural gas price volatility expected amid supply and demand challenges

How to Increase Bid Opportunities in the Oil & Gas Industry With the OFS Directory

In today’s oil and gas industry, standing out and securing visibility with operators has become increasingly challenging.  As traditional marketing channels lose their effectiveness, oilfield service providers are left looking for powerful ways to showcase their strengths and seize valuable business opportunities. I understand the struggle well. As a marketing professional, I’m constantly on the lookout for ways to amplify our company’s visibility without overspending.  That’s why the launch of the OFS Directory (formerly BidOut) is so exciting. This isn’t just a directory; it’s a powerful connection tool linking oilfield service companies directly with operators who prioritize quality and reliability. Let me show you how the OFS Directory can become your key to greater visibility and growth in a competitive industry.

Enhanced Visibility and Bidding Opportunities for Oilfield Service Companies

Remember when you had to wait for the phone to ring or invest in costly campaigns that didn’t deliver? Those days are behind us. In today’s competitive landscape, the pressure to stand out is greater than ever, but that’s exactly where the OFS Directory comes in. Imagine a platform where operators actively search for the exact services you provide. This isn’t just marketing—it’s targeted, efficient, cost-effective exposure that directly leads to growth.

Explore the OFS Directory

The OFS Directory Advantage

The vision behind the OFS Directory was simple yet ambitious – to create a seamless, effective path for oilfield service companies to showcase their services while providing operators with a streamlined search experience. Here’s how the OFS Directory delivers:

  • Maximized exposure: Ensure your company’s expertise is front and center for operators who are looking for exactly what you offer.
  • Increased bid opportunities: Open the door to projects that match your company’s strengths by highlighting your unique services, safety records, basin footprints and more.
  • Efficiency for your team: Say goodbye to the time-consuming lead search. Our optimized matching system brings clients to you, expanding your reach and improving engagement.

What Our Customers Say

BidOut is very user friendly and straightforward. We use it for 90% of the bids we do. The supplier help us connect with new suppliers. This is especially helpful when we need bids in regions where we aren’t as familiar with the available supplier network.

Brittney Pool | Senior Supply Chain Specialist

Quick and Easy Account Setup

Setting up your account on the OFS Directory is as simple as it gets. In just a few clicks, you’ll be ready to connect with potential clients and showcase your offerings with features like:

  • Comprehensive profiles: Share your service summary, corporate videos, contact details, locations, brochures and more.
  • Bid invitations tailored to your niche: Receive targeted invitations, perfectly aligned with your expertise.
  • Top-positioning benefits: Gain premium visibility with top positioning on directory pages, enhancing your brand presence.

Why Wait? Join the Fastest-Growing Directory

The OFS Directory is quickly becoming the go-to resource for oilfield service providers and operators alike. Boost your visibility and increase your bid opportunities by joining more than 4,500 service providers across 150 categories. Don’t miss out on the chance to be discovered by operators you might not otherwise reach. Step into the spotlight with the OFS Directory and elevate your brand’s presence in the oil and gas industry.

Get Started Today
Enverus Blog - Oil and gas procurement automation: End project delays and overspending

Growth Rate Moderates Within Canada’s Clearwater Play

Is the top tier inventory exhausted, or is there growth remaining with multilateral development?

Multilateral wells have transformed Canada’s Clearwater and Lloydminster Mannville plays, among others, into some of the best resource plays in North America today. Starting in 2017, steady development has led to an aggregate production rate of more than 170,000 bbl/d (Figure 2) of medium to heavy crude oil from the Clearwater play located in central Alberta and the Lloydminster Mannville play located in eastern Alberta and western Saskatchewan.

In search of shallow drilling targets, operators have stayed for the great economics. For the price of an 8-well Permian pad, operators in the Clearwater and Lloydminster Mannville plays could drill dozens of multilateral wells at a cost of $1.1 – $1.9 million CAD per well. And instead of a 10,000 – 20,000ft single lateral length of deep unconventional wells, Clearwater and Lloydminster Mannville multilaterals combine to create an overall lateral length of 30,000 to 50,000 ft and leverage geometric wellbore designs to maximize reservoir contact.

Figure 1 | Developed multilateral wells in the Clearwater and Lloydminster medium/heavy plays

Typical Clearwater breakeven costs hover around $40 WTI with assets in the Peavine region with the best economics and the Jarvie and Figure Lake regions having the most expensive breakevens. The Marten Hills Central, Marten Hills West and Nipisi sub-plays in the Clearwater generally also offer sub-$40 WTI breakevens.

Just three operators in the Clearwater account for ~70% of total multilateral development today while a single operator dominates in the Lloydminster Mannville with a 50-60% compound annual growth rate since the start of 2022. Only seven years after multilaterals breathed life into these plays, a crack may already be forming in the strong growth. Let’s look at the epicenter for the recent decline in productivity and what it means for the future of multilateral wells in the region.

Marten Hills East, Where It All Started

Early Clearwater development focused on the Marten Hills East region. In early 2023, there was a notable plateau and then definite decline in production.

Once home to some of the best performing multilateral wells in the Clearwater, the performance drop off can be attributed to dwindling top tier drilling inventory. Infill drilling and secondary tier targets still exist but the breakevens are not as attractive as other plays or sub-plays within the Clearwater or Lloydminster Mannville. Capital that is deployed in Marten Hills East is largely being spent on water flooding to squeeze as much productivity as possible.

The epicenter of early development and early decline, the production profile of Marten Hills East is now on par with other parts of the Clearwater play, which just goes to show how strong of a run the region has had.

Figure 2 | Clearwater and Lloydminster multilateral production
For the purposes of this report we have focused exclusively on multilateral wells with four or more legs.

What’s Next for the Clearwater and Lloydminster Mannville Plays?

So far, the other regions in the Clearwater and Mannville are not showing as rapid of a shift in production decline as Marten Hills East. However, this region is likely an analog for the other similar plays, so we would expect to see indications of aggregate production level flattening over the next three years across the fairway spanning Marten Hills Central, Marten Hills West and Nipisi. At Wolf Lake (Lloydminster play), despite the presence of multiple operators in the play, the bulk of production growth is being driven by one producer focused on development. Here, the operator is drilling the highest quality wells in the region with an estimated ultimate recovery to lateral length of 7bbl/ft.

Figure 3 | Enverus PRISM® workbook showing multilateral pad productivity

Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. See additional disclosures here.

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