Europe’s energy market is weathering a storm of transformations. With natural gas inventory at peak levels thanks to a diversified supply chain and falling prices, traders and analysts face an evolving challenge unlike any other. Amid this flux, Enverus’s MarketView® emerges as a pivotal tool, tailored with 122 fresh gas, power and energy transition products for the European sector, enabling professionals to steer through the tumultuous market with finesse. The Complexity of Supply Dynamics Consider the present scenario where Europe’s gas storage brims at 59%, a figure set to rise. With Marke ..read more

The levelized cost of energy (LCOE) serves as a valuable measure for assessing the economic viability of a specific project or energy source. Put simply, a lower LCOE suggests that a project is more efficient in generating electricity. This metric is primarily influenced by three main factors: initial capital investment, ongoing operational expenses and the total electricity output throughout the asset’s lifespan. As depicted in Figure 1, most regions exhibit after-tax LCOEs ranging from $30 to $40 per megawatt-hour (MWh), with the exception of NYISO. In NYISO, LCOEs are comparatively ..read more

Questions around the relationship of data centers to energy demand are very quickly etching themselves onto the minds of industry and technology participants alike. Recent analysis from Enverus Intelligence® Research (EIR) forecasting Lower 48 and regional data center demand highlight some of the complexities of finding ideal traits such as connectivity to fiber networks, reliability and less critically, affordability of power supply. We see a growth floor near the fastest pre-AI period of deployment, while the dominant constraint is access to reliable power capacity. Industry participants ..read more

Over the last seven days, the Enverus Power and Renewables forecast has accurately predicted the 630__B constraint (KLNSW-HHSTH 138 kV with contingency DSALKLN5) in ERCOT. This major constraint near the town of Killeen, TX had the second highest total congestion shadow price, a major component of ERCOT prices, more than $13,000 in total congestion last week. While this congestion is fundamentally driven by high wind and solar generation, there were two transmission outages responsible for increasing flow on the constraint by 50%, while other longer term transmission outages also had a sma ..read more

The Enverus Intelligence® Research (EIR) Subsurface Innovation Team attended AAPG’s CCUS 2024 conference in Houston March 11-13. The conference, which also brought together SPE and SEG membership, hyped up the need for CCUS to offset the demand for fossil fuels, which according to our forecast is expected to grow from 103 MMbbl/d in 2024 to 108 MMbbl/d by 2030. The takeaways here were originally published by our Subsurface Innovation Team shortly after the AAPG conference. To gain early access to crucial insights in a rapidly changing industry, learn more from our EIR team’s daily insights wit ..read more

E&P activity targeting the Cleveland formation in the Anadarko Basin more than doubled in 2023 with 46 new wells reaching first production, compared to 20 in 2022 and similar levels the previous two years. The increase has bucked the overall trend in the Anadarko Basin, where completion activity decreased to 589 new wells in 2023 from 630 in 2022. A large portion of the increase is attributable to privately owned Mewbourne Oil increasing its program from 11 wells in 2022 to 21 in 2023. In particular, Mewbourne ramped up activity in Ellis County, Oklahoma, to 16 new wells last year versus t ..read more

Renewable fuel uptake has surged in California in recent years, contributing to a 141% increase in the California Low Carbon Fuel Standard (LCFS) credit bank surplus and resulting in a drop in credit prices from ~$185/tonne to $75/tonne from 2019 through 2023. A tsunami of renewable diesel (the largest credit-generating fuel type), renewable natural gas/biomethane and electric vehicles have flooded into the state, accounting for 81% of the credits generated in 3Q23. Fuel volumes grew by 233%, 62% and 130% since 1Q19, respectively, while the corresponding credits generated increased by 166 ..read more

In the biggest oilfield services transaction since 2016, SLB agreed to acquire ChampionX Corp. for $7.76 billion in stock, bringing an industry leader in production chemicals into the OFS giant’s fold. ChampionX’s $420 million in net debt brings the transaction to an $8.18 billion enterprise value. Of the $3.76 billion in revenue that ChampionX reported for 2023, 64% came from its production chemicals segment and 27% from production and automation technologies, which include artificial lift equipment and digital automation applications. The offerings of its smaller segments include polycrystal ..read more

Offshore drilling is a complex and multifaceted process essential for accessing oil and gas reserves beneath the seabed. Exploration drilling is the initial phase, crucial for identifying potential oil or gas reservoirs. It involves the deployment of mobile drilling units to conduct exploratory drilling on selected sites. During exploratory drilling, wells are drilled targeting prospects identified through seismic surveys, typically taking 60 to 90 days each to complete. Geologists obtain cutting and core samples to analyze the geological formations and look for signs of petroleum, known as a ..read more

Did you know that Enverus now has 18 offices around the world, with the most recent addition of the Brno office in Czechia. To mark the expansion of our #OneTeam values, a group of runners will participate in the country’s legendary relay event, the Vltava Run. Spanning an epic distance and stunning landscapes, the Vltava Run begins in the mountainous region of Southwest Czechia, in Šumava, and follows the Vltava River into the historic city of Prague. Covering a total of 360km, the run is segmented between 12 runners. Half of these runners will come from our Brno office [link to careers page ..read more