Network infrastructure expansion will lag load growth, driven primarily by the rapid expansion of data centers to support artificial intelligence. Data hub developers are looking to gain a first-to-market advantage and are eager to find ways to connect to the grid as soon as possible. Demand response (DR) – a voluntary reduction in power consumption during peak hours – is one method to ensure that new loads can be integrated into grids despite current capacity constraints. Enverus Intelligence® Research’s (EIR) new report measures the efficacy of DR for rapidly connecting new loads to the grid.
Using hourly operating data from the EIA, EIR estimates that PJM and MISO have the greatest ability to accommodate new loads with DR. At only 100 hours of DR, PJM and MISO can add 11.9 GW and 8.2 GW, respectively. CAISO would see the greatest utilization of idle resources, with the added capacity at 100 hours (5.8 GW) making up 14% of peak net load. These values increase proportionally with the number of DR hours. Although promising, large loads with high-reliability requirements, such as data centers, may lack the capability to reduce their power consumption without expanded backup generation. Furthermore, increasing loads without expanded infrastructure may lead to higher wholesale power prices.
Midstream Opportunities – L48 Gas-Fired Power Growth Potential – We examine which midstream operators hold the most gas pipeline capacity near increasing load and retiring coal-fired power plants and projects the volume growth potential for each operator.
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. See additional disclosures here.
The need to identify and secure quality acreage is more critical than ever for operators, from traditional family businesses to private equity-backed firms and public companies. The market is valuing and rewarding operators who are making the right moves to manage their inventory and remain capital efficient. This is a fine balance for producers to walk, and leveraging advancements in AI technology will be crucial to optimizing operations and maximizing profitability. This blog explores how AI in oil and gas can be a game-changer for small and mid-sized operators and what tools they can use to increase their bottom line.
Topics covered:
The role of AI in oil and gas
Current challenges that AI can solve
Practical steps for implementing AI in your business
Emerging AI technology can help with anything from lagging drill speeds, difficult well spacing and higher breakeven costs. Smaller operations companies can leverage these tools to remain competitive and explore growth opportunities.
The Role of AI in the Oil and Gas Industry
AI offers significant advantages in understanding and navigating the oil and gas market. By analyzing vast amounts of data quickly and accurately, AI enables operators to make better decisions. AI can process large amounts of geological data, production history and market trends, providing insights that would be impossible to obtain manually. This capability is particularly valuable in identifying quality acreage and understanding market dynamics.
With Instant Analyst™:PRISM, you can use AI to ask questions about active rigs, permits, wells and other factors and the software will generate a pre-populated workbook for you. Click above to give it a try!
Current Challenges Facing Small and Mid-Sized Operators, and How AI Can Help
Small and mid-sized oil and gas operators face numerous challenges, including lagging drill speeds, difficulties in optimizing well spacing and inconsistent drilling programs. While machine learning has been used for years, newer technology in oil and gas that leverages more advanced AI can offer solutions by optimizing drilling operations, enhancing well spacing strategies, identifying cost-saving opportunities, and streamlining drilling and completion programs, leading to more efficient and effective operations. Let’s delve into the specific challenges faced by small and mid-sized operators and explore how new AI technology in oil and gas can provide effective solutions for each.
Problem: Drill speed and well cycle times often lag behind basin medians
How AI helps: Emerging AI technology can optimize drilling operations by analyzing historical data and real-time inputs to recommend the best drilling parameters. Machine learning algorithms can predict the optimal drill speed and adjust parameters dynamically to improve efficiency and reduce cycle times.
Problem: Challenges in optimizing well spacing and development strategies
How AI helps: AI can analyze vast amounts of geological and production data to recommend optimal well spacing and development strategies. This ensures maximum resource extraction while minimizing interference between wells.
Join us as we explore the intersection between technology and energy, including many fascinating AI innovations at this year’s EVOLVE conference.
Problem: Inconsistent drilling and completion programs
How AI helps: AI can streamline drilling and completion programs by providing a data-driven foundation that can be used by planning teams to properly allocate resources and schedule the best times and methods for these activities.
Practical Steps for Implementing AI
For operators looking to integrate new AI technology for oil and gas into their workflows, there are several practical steps to consider:
Invest in Training and Development: Ensure that your team has the skills and knowledge needed to use AI effectively. This may involve training programs or hiring new talent with expertise in AI and data analysis.
Start Small and Scale Up: Begin with pilot projects to test the effectiveness of AI in your operations. Once you see positive results, you can scale up your AI initiatives to cover more areas of your business.
Conclusion
In the ever-changing oil and gas market, AI offers a powerful solution for small to mid-sized operators. By providing insights into market dynamics and identifying quality acreage, AI can help operators make informed decisions and stay competitive. Embracing AI is not just about adopting new technology – it’s about transforming the way you operate and positioning your business for long-term success.
Ready to explore how AI can benefit your operations? Join us at our annual EVOLVE Conference being held May 12-15 in Houston. We even have a specialized stream of sessions focusing on AI and its impact on the energy industry – “Innovating Energy Tech with AI.” Learn more about AI solutions and how they can help you navigate the complexities of the oil and gas market. Visit the link above or fill out the form below for more information.
Interested in learning about how we leverage AI in our energy analytics solutions? Fill out the form below to speak with an expert!
CALGARY, Alberta (April 16, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages Generative AI across its solutions, is releasing a series of reports focused on its Haynesville growth forecast including natural gas production, operational efficiencies and Henry Hub basis fluctuations amid high price volatility.
According to EIR, the high volatility in natural gas prices expected at East Texas hubs served by Haynesville production is driven by timing mismatches related to gas supply, pipeline development and LNG export demand. Over the next decade, the Haynesville is anticipated to experience underutilized pipeline capacity, according to EIR reports.
“Operator guidance and a minimal increase in drilling activity in the Haynesville has driven a downgrade for our 2025 and 2026 production outlook,” said Alex Ljubojevic, director at EIR.
Jason Feit, an adviser at EIR added, “Gas producers and consumers should expect volatile prices at key trading hubs in Texas over the next few years as new pipelines come onstream and alter supply-demand dynamics. Prices at the Katy and Carthage trading points should stabilize in 2028 and beyond but expect a bumpy ride until then.”
“There could be as much as 6 Bcf/d of underutilized pipeline capacity over the next decade in the Haynesville. Legacy pipelines and those lacking LNG access face the most challenges,” Feit said.
Key takeaways from the report:
EIR has downgraded its Haynesville production forecast in 2025 and 2026. Lack of activity pick-up and operator guidance indicating a slower production ramp drove the downgrade.
Longer laterals have kept total drilled but uncompleted (DUC) footage in line despite lower DUC counts.
EIR is bearish relative to the current forward curve for Katy and Carthage gas prices in 2026-27. It expects abnormally high volatility during this period.
New pipelines targeting the growing Gulf Coast LNG export are forecast to add 3.5 Bcf/d of takeaway capacity by the end of this year. Another 1.7 Bcf/d of capacity is expected by 2027.
Underutilized Haynesville pipeline capacity will exist over the next decade, according to our estimates. Legacy pipelines and those lacking LNG access face the most risk.
Alex Ljubojevic will present the findings at EVOLVE 2025, a conference where visionaries converge to shape the future of energy. The conference will be held May 12-15, 2025, at the Hilton Americas in downtown Houston (1600 Lamar St, Houston, TX 77010).
You must be an Enverus Intelligence® subscriber to access these reports.
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. 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.
In a recent conversation with Loren McGinnis, host of CBC’s Calgary Eye Opener, I, Al Salazar of Enverus Intelligence® Research (EIR), delved into the recent sell-off in oil prices and whether such a dramatic drop was justified. We’ve seen Brent and WTI plummet by roughly $10-$15 per barrel, primarily due to fears of a global economic slowdown and the impending recession triggered by President Trump’s tariffs. The market is reevaluating its expectations, forecasting weakened oil demand amid a fragile global economy.
Based on EIR’s models, sustaining prices of $65/bbl Brent in Q2, or $60/bbl WTI, imply a market imbalance of around 2 million barrels per day. This imbalance would stem from increased OPEC production paired with reduced oil demand, leading to higher stockpiles. Such an imbalance has yet to manifest. Moreover, the forward curve’s pricing does not incentivize such behavior since the cost for the front-month contract remains higher than future months. Based on present fundamentals, the price drop appears somewhat unjustified. Nonetheless, market behavior suggests some investors are bracing for a potential downturn.
Market Outlook Amid Tariffs and Production Increases
Despite recent oil price volatility, EIR’s outlook on oil prices remains steadfast. About a month ago, EIR downgraded its oil price forecast in light of Trump’s tariffs and OPEC’s decision to roll back production cuts. We now project an average Brent price of $70 (and $65 for WTI) in 2025, decreasing to $65 (and $60 for WTI) by 2026. This downgrade, which predated the broader ramifications of global tariffs, prompted us to significantly slash our demand forecast. To warrant another revision, we would need to witness a rapid deceleration in demand or unexpected shifts in supply dynamics. The focus presently remains on demand, with OPEC’s decision to accelerate the unwinding of production curbs further fueling bearish sentiment.
Western Canadian Select Differentials: What’s Driving the Narrowing?
The recent narrowing of differential for Western Canadian Select (WCS), a benchmark grade of heavy oil that includes oil sands output, has sparked much discussion. However, the emphasis on tighter differentials has overshadowed the more pressing issue — the absolute price of WCS, which hovers around $50 per barrel. WCS differentials typically widen when Alberta’s crude transportation faces constraints amid favorable pricing and robust supply growth. Today’s low-price environment mitigates the risk of transportation congestion from Alberta’s supply growth. While demand for Canadian heavy crude has surged in response to President Trump’s threats against Venezuelan crude importers, this uptick is relatively insignificant when set against widespread global demand concerns and suppressed absolute prices.
President Trump’s initiative to rectify the U.S. global trade deficit has ushered in a period of uncertainty and oil price volatility. We can expect lower global economic growth compared to previous years. For Canada and Alberta, this marks an economic transition characterized by reduced trade, slower economic growth, job losses and diminished capital investment. As the federal election on April 28 approaches, discourse will likely revolve around strategies to address these challenges. We urge industry players to brace for a potentially tumultuous period ahead, one that could last years.
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. See additional disclosures here.
The oil and gas industry is undergoing a significant digital transformation, with artificial intelligence (AI) playing a crucial role in revolutionizing oilfield procurement processes. As the demand for efficiency and cost-effectiveness increases in our increasingly competitive economic environment, AI technologies are reshaping procurement strategies, from supplier selection and order processing to invoicing. Some of the most significant advancements in this area — “neural search” and document data extraction — are set to impact how we manage and process documents like contracts and invoices. Join us as we explore how these innovations are paving the way for the future of procurement in the oil and gas sector.
As AI technology continues to evolve, so will its impact on oil and gas. From predictive maintenance and real-time data analysis to neural search and AI data extraction for back-office processes, AI is revolutionizing how we explore, extract and manage our oil and gas resources.
The Impact of AI in Oil and Gas
The integration of AI in oil and gas processes is bringing about significant changes while making the industry more efficient and cost-effective. In terms of procurement, AI-driven systems are already playing a larger part in streamlining repetitive and time-consuming activities such as vendor selection, order processing and inventory management. This automation reduces the burden on procurement teams and minimizes human error, allowing professionals to focus on strategic decision-making.
Enverus’s latest AI-powered sourcing solution is purpose-built for oil and gas and designed to provide quicker insights and access to vetted suppliers, allowing you to secure the best value for your bids.Click above to give it a shot!
AI in oil and gas increases transparency and visibility in sourcing. AI tools provide comprehensive insights into the procurement process, from initial sourcing to contract management. This visibility allows organizations to track spending patterns, monitor compliance, and ensure procurement decisions align with strategic business objectives. Utilizing AI, companies can make informed decisions, optimize sourcing strategies and mitigate potential challenges before they escalate.
Now, let’s dig into a couple of these AI enhancements that we mentioned earlier: neural search and document data extraction.
Neural Search and the Future of Contract Management
What Is Neural Search Anyway?
Neural search marks a significant advancement in how information is retrieved and interpreted, especially in complex fields like oilfield procurement. Unlike traditional keyword-based search methods, neural search uses AI to understand the context and intent behind questions, delivering more relevant and nuanced results.
By enabling smarter searches through natural language processing, teams can quickly locate critical clauses, obligations and compliance requirements within contracts. For instance, let’s say you wanted to search all your existing contracts for missing T&Cs or state and federal regulatory requirements that might’ve changed recently. Instead of having to sift through hundreds (or thousands!) of contracts, you could instead use the following prompt: “Find all contracts that are missing a confidentiality and indemnity clause.” And the software would list out any contracts that fit that description — all without you needing to comb through the contracts themselves or fiddle with clunky filters.
As neural search technology evolves, its integration into contract management systems will redefine how organizations approach procurement in the oil and gas industry.
Learn more about how we’re innovating new AI solutions affecting oilfield procurement at our annual EVOLVE Conference.
Document Data Extraction
What Is Document Data Extraction Anyway?
Document data extraction involves converting various types of documents—such as invoices, contracts, and purchase orders—into structured data that can be easily analyzed and used within business systems. Leveraging advanced technologies like AI and machine learning, organizations can automate the extraction of relevant information from these documents, significantly reducing manual input and errors.
In source-to-pay (S2P) processes, document data extraction is crucial. Automating the collection and processing of procurement documents streamlines operations, enhances accuracy, and improves efficiency. For instance, when suppliers send invoices, AI-driven document data extraction tools quickly identify and capture critical information like amounts, due dates, and line items, allowing procurement teams to focus on more pressing tasks rather than tedious data entry.
We’re currently working on AI enhancements for our existing digital invoicing solution, OpenInvoice®, that allow you to quickly identify duplicate and fraudulent invoices — but you’ll have to wait until later on this year to try it out! In the meantime, if you’re itching to see how we already use machine learning and document data extraction, you could always check out the guided demo below.
We currently use machine learning and document data extraction with our ticketing and invoicing software to establish three-way matches between digital field tickets, contracted rates and invoices.Click above to give it a try!
The future of document data extraction promises even more advancements. With ongoing AI developments, we can expect more sophisticated algorithms capable of understanding context and language nuances, improving extraction accuracy. Integrating these capabilities with other procurement technologies will enable predictive analytics and smarter supplier management, leading to a more resilient and responsive supply chain in oilfield procurement.
The Future of Procurement in Oil and Gas With Enverus
As AI continues to evolve, its impact on oilfield procurement will only grow. Advancements in AI technology, such as enhanced machine learning algorithms and natural language processing capabilities, will enable procurement professionals to analyze vast amounts of data with unprecedented speed and accuracy. These technologies will facilitate better forecasting, supplier assessments and risk management, leading to more informed decision-making processes. The long-term impacts on procurement strategies are expected to be transformative. Companies will shift from traditional, reactive procurement methods to proactive, data-driven approaches leveraging AI insights.
Biomass energy with carbon capture and storage (BECCS) is emerging as a leading pathway for CCUS commercialization. With the ability to stack incentives such as the $85/tonne 45Q tax credit, renewable energy credits (RECs) ranging from $2.08/MWh in the national voluntary market to $48.50/MWh in CAISO, and the $387/tonne carbon dioxide removal (CDR) credit, BECCS can achieve negative levelized costs of electricity (LCOE). At the lower end, LCOEs can reach as low as -$57.82/MWh, driven by high CO₂ capture volumes that benefit from economies of scale, proximity to sequestration sites, and access to premium REC markets depending on the ISO. In contrast, smaller-capacity facilities situated farther from Class VI injection wells can see LCOEs rise substantially, up to ~$267/MWh. This cost disparity indicates the importance of location and scale when considering BECCS opportunities.
The CDR market saw rapid growth last year, with BECCS at the forefront, accounting for 55% of total volumes transacted at an average disclosed price of $387 per tonne. BECCS also stands out as the only carbon removal technology with single transactions surpassing 1 million tonnes, with an average deal size of 535,760 tonnes. This reflects its current advantages in scalability and technological readiness compared to other CDR pathways.
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. See additional disclosures here.
There is no question that AI is changing the way we access information across renewable energy projects in 2025. At Enverus, we are leading the energy industry in AI applications, ranging from how we can help our customers get answers faster to how we can gather and verify new data more efficiently. Using Enverus Instant Analyst™, powered by Generative AI, it has never been easier to get data and answers around the energy industry. Our AI tool can quickly gather insights from our thousands of data sources and return exactly what you are looking for.
To explore the possibilities, I used Enverus PRISM® Instant Analyst to understand how our grid is expected to change in 2025. The tool helped me understand what renewable assets will be reaching operations this year.
First, I input the question: What are the 10 largest solar projects coming online in 2025?
PRISM Instant Analyst will perform the following steps:
Rephrase the question
Pick relevant calculated fields
Show relevant columns
Create a plan
Generate SQL
Find relevant workbooks
Summarize the answer
The PRISM Instant Analyst will clearly show the work and logic of the above steps taken to reach the solution so that the user can follow along and verify if the tool is interpreting the question as intended. The answer is summarized moments later in the following table.
We can ask a similar question; What are the 10 largest wind projects coming online in 2025?
The answer is summarized in the following table.
Want to See Instant Analyst in Action? Check Out This Quick Demo:
Arizona accounts for half of the top ten projects, including the largest — 2,000 and 1,000 MW solar installations in Coconino County by Avantus. This signals the state’s growing role in utility-scale solar, thanks to sunny skies, land availability and evolving policy support.
🔋 Battery Storage Is Becoming Standard
70% of these projects include co-located storage, underscoring a broader shift in how developers plan for dispatchability and grid flexibility. Storage is no longer a nice-to-have but becoming essential for merchant viability and grid services.
Cedar Springs IV Capacity: 390 MW Developer: NextEra Energy State: Wyoming
Garfield County (AVA – TCS-14) Capacity: 375 MW State: Washington
Key Wind Trends Emerging
🌵 Texas Invests in Wind
A quarter of the capacity of the largest projects coming online this year are in Texas. Despite uncertainty in the wind market, owners and developers in Texas are taking advantage of the large spaces and windy environment.
NextEra Remains a Prominent Player
NextEra, as the largest wind and solar by capacity developer in the U.S., is responsible for nearly half of the capacity coming online in wind this year. Despite headwinds in the industry, NextEra remains steadfast in their investment in wind development.
Unlock Deeper Insights With Enverus
Want to go beyond project lists? With Enverus, you can forecast nodal prices 20 years into the future, identify congestion risks and model merchant or PPA strategies — all from one platform.
Let us help you de-risk your portfolio and move faster with smarter, scenario-based power price forecasting.
AUSTIN, Texas (April 10, 2025) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is inviting members of the media to EVOLVE 2025, a conference where visionaries converge to shape the future of energy. The conference will be held May 12-15, 2025, at the Hilton Americas in downtown Houston (1600 Lamar St., Houston, TX 77010).
EVOLVE 2025 is a three-day conference featuring more than 65 sessions with 130 speakers focused on technology and energy innovation and exclusive insights from the Enverus Intelligence® Research team. This powerhouse symposium offers unmatched market insights, cutting-edge technological know-how, and the chance to connect with industry leaders across the entire energy spectrum.
A press room and hospitality suite for will be available for journalists to meet with Enverus subject matter experts and schedule one-on-one interviews.
When asked about attending the 2024 EVOLVE conference, Paula Rhinehart of Suspiro Group said, “Hearing from the visionaries that are telling us where the future is headed is important to me because it’s the industry I’ve always worked in, and it’s important because our children will be working in that industry. I went to the first session that explored the history of GenAI and learned about the history of computing. It may have started in the ’50s, but the last five years have been pivotal.”
Malini Manocha of Nabors Industries said, “I was absolutely stunned at the capacity at which Enverus was running such a conference. The diversity of the panels, different sessions, including the pure technical sessions, and at the same time, emerging trends and investor presentations, were impressive. I wasn’t expecting all of that at EVOLVE.”
EVOLVE 2025 Agenda Topics & Themes:
Macro & Market Outlook: Navigate how supply-demand shifts, geopolitics and investments are reshaping the energy industry.
Power & Renewables: Tackle power grid challenges with solutions for new generation integration and rising demands.
Carbon Innovation: Explore groundbreaking decarbonization technologies driving the future of energy.
Business Automation: Learn how innovative digital solutions are enhancing energy operating efficiency through automation, from procurement to payment.
Asset Optimization: Insights and best practices for optimizing oil and gas asset performance through comprehensive case studies.
Trading & Risk: Hear valuable insights around key narratives to unlock trading strategies in a volatile market affected by politics and global shifts.
Members of the media with questions or looking to register for EVOLVE 2025 should contact Jon Haubert to obtain a complimentary media registration code.
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 7,700 customers in 50 countries. Learn more at Enverus.com.
CALGARY, Alberta (April 9, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages Generative AI across its solutions, is releasing a report looking at the impact of increased oil sands production on in-basin demand for condensate, a liquid hydrocarbon used to dilute bitumen for transportation by pipelines. The report examines the effects on AECO hub gas pricing, the Canadian benchmark price for natural gas, from what is expected to be exceptional levels of condensate-directed Montney drilling in the coming years.
“We see good and bad news for Canadian gas producers trying to capitalize on increased oil sands production over the next four years,” said Trevor Rix, a director at EIR and lead author of the new report. “The good news is that prices for condensate — produced by many operators alongside natural gas volumes — will likely be quite robust. The bad news for dry gas producers is that a pivot toward condensate-directed drilling risks flooding the natural gas market with an oversupply of cheap gas.”
“Investors should look at companies with exposure to liquids-rich areas of the prolific Montney play in Alberta and B.C, the largest source of gas in Canada, as well as select midstreamers, the companies that gather and process the gas and liquids,” Rix said.
Key takeaways from the report:
EIR estimates that non-upgraded Canadian oil sands production will rise by around 100 Mbbl/d annually until 2028. This will result in substantial demand growth for in-basin condensate volumes because of increased need for diluent.
Due to insufficient growth within the highest-yielding condensate regions of the Montney gas play in B.C. and Alberta, a supply gap will become apparent over the next couple of years.
To fill the gap, Montney E&Ps will pursue condensate growth within the context of their asset portfolios, which will likely bring on quantities of associated gas that will strain the Canadian market and pressure prices at the AECO hub.
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. 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.
CALGARY, Alberta (April 8, 2025) — 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 Oil Sands Play Fundamentals report that examines recent development trends, remaining resource and associated economics across both surface mining and steam assisted gravity drainage (SAGD) projects.
“The oil sands resource in Western Canada is vast and anticipated to continue to grow approximately 400 MMbbl/d by the end of the decade,” said Dane Gregoris, managing director at EIR.
“Almost all of this growth will be driven by brownfield expansions of existing SAGD projects. We expect WCSB oil production will fill existing pipeline capacity by 2027. Enbridge’s Mainline expansion and TMX’s additional expansion should relieve egress pressure thereafter.”
“Existing projects deliver the lowest-breakeven oil in the region. Total company-disclosed proved oil reserves amount to about 30 billion barrels which breaks-even at prices lower than $50 WTI. That’s over 20 years of current production.”
“To access most of the remaining 100 plus billion barrels of undeveloped oil sands resource, new greenfield mining and SAGD projects are required. According to our calculations, top-tier greenfield SAGD projects require stable oil prices of $80 plus WTI to generate enough profits to be greenlit in today’s market environment,” said Gregoris.
Key takeaways from the report:
Canada is anticipated to grow oil production by ~600 Mbbl/d by 2030 with oil sands expansion projects making up two-third of this volume.
U.S. trade tensions and oil price declines, if sustained, may slow down oil sands growth but only at the margin, given these are long lead time projects and significant capital is already sunk.
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 technical research and interactive maps, investment opportunities, benchmarking, macro trends and basin analytics, empowering 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.
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. 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.
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NextEra Remains a Prominent Player
