Oil Markets in Crisis: Production Outlook and Outline for Recovery
By now, everyone reading this blog should be aware of the crisis in oil markets. If not, this week’s spectacular collapse of the May WTI contract almost certainly caught your attention. I’m not the first to say this, but it’s worth repeating: the WTI settlement of -$37.63 a barrel was the result of traders’ difficulty […]
Coronavirus Power Demand Destruction Forecasting 101
When the coronavirus power load demand destruction began appearing in Enverus Trading & Risk’s daily ISO load forecasts, our team had to quickly tackle a new set of realities. Just like businesses all over the world, we were faced with never-before-seen scenarios as a result of the nationwide shutdowns. Our machine learning-based forecasting tools have […]
Why Automated Forward Curves Matter to Energy Traders
Forward curves are an integral part of the trading & risk business across the energy industry. In a typical trading & risk organization, you’ll see a few different segments focused on forward curve management. Risk managers watch curves to manage their value at risk Traders evaluate curves to value their profits and losses on a […]
Deep Learning Brings Texas-Sized Accuracy to Power Forecast
Machine learning has powered the forecasts of PRT, the Enverus power analytics platform, for more than 25 years. PRT analysts were trailblazers, using machine learning to build more accurate power forecasts in the 1990s. We have now cracked a new code in lowering MAPE (mean absolute percentage error) with deep learning, a powerful new counterpart […]
Data Management is Everything for Energy Traders & Risk Professionals
Our customers have an enormous amount of data to manage, digest, and analyze in a quick, timely manner. How can customers have a single source of the truth to gather that data and mitigate risk? We asked Wendi Orlando, VP of Enverus Trading & Risk Product Management, and Ben Golden, Director of North American Professional […]
As the World Watches the Permian, Enverus Brings the Rockies & Bakken In Focus
Austin, TX (February 19, 2020) – Enverus, the leading oil & gas SaaS and data analytics company, has released its latest FundamentalEdge report focused on oil, gas and natural gas liquids production, pipelines, and prices in the Rockies and the Bakken. This report, Rockies & Bakken in Focus, reviews upstream and midstream activity in these […]
How Utilities Can Mitigate Price Risk With Enverus Forecasts
Third-party power forecasts are key when ISOs provide inaccurate load projections. Power market participants in the PJM, a regional transmission organization covering a large swath of the northeastern U.S., may remember Oct. 1, 2019 for the rest of their careers. PJM power traders that relied on their local ISO for load forecasting began the […]
Texas Fractionation Shortage to Feel Some Relief During Q1
NGL pipeline construction to the Texas Gulf Coast has moved faster than fractionation projects, causing frac capacity to run short for much of 2018 and 2019, according to Enverus’ FundamentalEdge report for January. However, though more pipelines are coming this quarter, the extended capacity crunch will begin to lift. Oneok and Energy Transfer will put […]
PADD 1 After the PES Fire: A Look Back at the Past Six Months
[contextly_auto_sidebar] On June 21, 2019, a massive fire and explosion ripped through the Girard Point section of the Philadelphia Energy Solutions (PES) refinery, destroying the largest alkylation unit on the East Coast. Unable to recover from such a devastating blow, cash-strapped PES made the fateful decision to permanently close the refinery. In doing so, PADD […]
Power Price Volatility to Rise in 2020 as Renewables Gain Market Share
The influence of renewable energy in power generation is rising across the U.S. Growing adoption is creating an increase in wholesale price volatility, which we expect will expand in importance with the new decade. Much of the uptick to price volatility is caused by a reduced dependence on thermal units. These units are power stations […]