EOG still top U.S. drilling client, but Exxon-Pioneer coming up
EOG Resources is arguably the largest customer in the U.S. onshore oilfield services industry, leading all E&P companies in feet drilled, average rig count and wells completed, and finishing second in frac fluid pumped during Q2, according to an analysis using Enverus Core data presented in the most recent issue of Oilfield Pulse. EOG held […]
Oil and gas procurement automation: End project delays and overspending
Purchase order automation has the power to relieve oil and gas operators and OFS companies of many headaches in the procure-to-pay process. Energy companies continue to manage the procurement process using tedious, manual workflows that result in the same issues over and over — limited visibility to accounting teams on committed spend, duplicate invoices and payments, delayed payment to suppliers, manual verification and matching of documents, to name a few.
Digital Invoicing for Small- and Mid-Sized Operators
“OpenInvoice saved my marriage.” This isn’t a value point you’d see in a typical software brochure. But it’s something a customer shared with us a few years ago. Turns out, this customer was the only accounts payable manager at her job with an independent oil and gas operator. Before her company had implemented digital invoicing […]
Raisa Energy automates well matching process on non-operated assets
Manual well matching is a painful, time-consuming manual process, especially when your minerals investment portfolio consists of thousands of wells across multiple entities. Slow processes don’t do your business any favors in a fast-paced, competitive minerals market. For mineral companies looking for ways to gain more efficiency and scale for growth – and let’s face […]
Flaring volumes spike in the Permian
Satellite-detected flaring data for the Permian shows volumes increased by 22% in the 12 months through September, with July rates nearing the three-year highs last seen in December 2022. Flaring rates in the Midland went up to 1.7x that of the Delaware from May to July, with several upstream operators recording sharp increases during those […]
Chevron acquiring Hess in another $60B blockbuster deal
Multi-billion-dollar deals are continuing to pile up at an extraordinary pace as 2023 draws closer to its end, this time with Chevron’s all-stock agreement Oct. 23 to acquire Hess Corp., valued at $60 billion including debt. The transaction, expected to close in 1H24, falls just a bit short of the recent high-water mark set by […]
U.S. drilling rig day rates decline for fourth straight month
Drilling rig day rates in the U.S. declined for the fourth consecutive month, although the pace of the decline slowed a bit, according to the monthly Enverus Day Rate Survey, as rig demand has yet to return to 2022 levels. The U.S. composite rate declined to $23,623, down $129 from August, the smallest sequential decline […]
Gulf Coast LNG offtake boom slows significantly in 2023
In the first nine months of 2023, U.S. LNG developers signed 14 long-term sales and purchase agreements totaling 19.65 mtpa. The pace is far slower than in 2022 when Russia’s invasion of Ukraine led European countries to scramble for future supplies not shipped from Moscow. The first nine months of 2022 saw 30 SPAs totaling […]
Analyst takes: Essential September energy trends to keep an eye on
As we step into October, it’s a great opportunity to reflect on the energy trends of the previous month. The expert team at Enverus Intelligence® | Research (EIR) has meticulously evaluated key trends and developments to bring you valuable analyst perspectives, supporting your business decision-making process. By being informed, you prepare yourself to jump at […]
Reshaping energy: A closer look at Duke Energy’s innovative integrated resource plan
The energy landscape is rapidly evolving, driven by the urgent need to transition from fossil fuels to renewable energy sources, while also managing an increase in demand associated with the region’s population growth. In this dynamic context, integrated resource plans (IRPs) provide valuable insights into how utilities are adapting and shaping the future of energy […]