Record Heat and Potential Blackouts Roll Into Northwestern US
Record-high temperatures and below-average hydro-generation conditions will rock the Pacific Northwest in the coming days, with a record summer load forecast for the wholesale electrical providers in the region. Temperatures are expected to reach or exceed all-time record highs in Seattle and Spokane, Washington; Portland, Oregon; and Boise, Idaho; after a “heat dome,” or large […]
Accurate Power Forecasts Essential to Survive This Summer
It’s going to be a long, hot summer for folks living on the U.S. West and Gulf Coasts. As early as April, the Enverus Power Market Analytics team has advised its customers to prepare for extreme high temperatures this summer. As we noted last week, western power markets from California to Texas came up against […]
Will Fracture Sand Pricing Power Return?
Rigs have jumped nearly 30% YTD in the Lower 48. The average number of actively fracturing fleets jumped 20% month-over-month in January and has remained steady since. Due to both a large backlog of drilled uncompleted wells (DUCs) built during the pandemic-induced activity crash and the higher-than-anticipated crude prices we’re now experiencing, completion activity — […]
ERCOT Power Demand Hits June Record in Extreme Heat
Western power markets from California to Texas are up against extreme heat and low wind production, putting electric grids under duress and prompting ERCOT officials to ask Texans to conserve energy through Friday. A new June record demand level was set in ERCOT Monday. Enverus estimated demand reached near 69,943 MW during hour ending 16:00, […]
Do Renewable Asset M&A Multiples Point to a Bubble?
The M&A market for renewables assets gained momentum over the past decade (Figure 1), demonstrating increased interest that we attribute to cost declines, stricter government policy and growing societal support. Recent high-water mark deal multiples of $8-$10 million/megawatt (MW) observed in the North Sea raise the question of whether renewable asset valuations are floating in […]
Automate Trading Reporting Efficiency With MarketView APIs
Access to the right commodity market data at the right time is key to the success of traders, quants, risk managers and back-office professionals. Enverus’ MarketView APIs provides just that. While many of our competitors focus on front-end solutions, MarketView also offers an API to help deliver the market data needed by the top global […]
ESG in the Energy Industry — Embracing Change
How did we get here and what is the challenge? The evolution of an energy company’s environmental, social and governance (ESG) profile demonstrates the tremendous power of capital markets. In just a few years, ESG moved from a footnote on public disclosure to the forefront of investment decisions and operators’ corporate strategies, a change largely propelled […]
Oil Sands Forecasting — More Accurate Than Your Local Meteorologist
Despite reduced capital spending in the Canadian oil sands since 2015, production grew from 2.4 MMbbl/d in January 2015 to 3.6 MMbbl/d in December 2020 (Figure 1). Our monthly oil sands forecast individually models 48 projects by assessing a company’s near-term guidance, development plan, turnaround schedule, blending patterns and activity data from Prism. The detailed […]
My Career in Energy: Krishnan Karuppaiah
Krishnan Karuppaiah is lead functional and solutions consultant at Principia Consulting Pte. Ltd. In this week’s “My Career in Energy,” we meet Krishnan and learn about his first job in energy, where he thinks the industry is heading, and what excites him about his current role. What was your first job? Financial engineer in a […]
How Operators Using OPIS Fuel Rack Prices Can Cut Costs
Oil and gas operators are having a decent year so far, price-wise, with WTI lately hovering near $70/bbl. Who could imagine prices were nearly $100 lower in April 2020? Despite the healthier margins for operators, the lessons learned from 2020’s dramatic decline in oil prices will not be forgotten. Oil and gas operators continue to […]