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Enverus releases Top 50 Public E&P Operators of 2025

AUSTIN, Texas (Jan. 21, 2026) — Enverus, the leading energy SaaS and analytics platform, has released its annual list of the top public onshore exploration and production (E&P) companies in the U.S. based on gross operated production last year.

ExxonMobil leads the ranking again at 1.95 MMboe/d, followed by Expand Energy (formerly Chesapeake Energy) at 1.75 MMboe/d and ConocoPhillips, which climbed three positions to claim the No. 3 spot at 1.42 MMboe/d. Six of the top 10 companies list the Permian Basin as their primary operating region, reinforcing the basin’s role as the center of U.S. oil and gas production.

According to Enverus, production trends this year reinforce how concentrated the U.S. energy supply landscape has become at the top. Strong Permian exposure, scale advantages, ongoing energy consolidation, and increasing rig efficiency help explain why the largest operators continue to widen the gap. Movement across the Top 50 Operators list highlights how mergers and acquisitions, regional performance, and portfolio optimization continue to influence competitive positioning. ConocoPhillips, EQT, Crescent Energy, Range Resources, Chord Energy and CNX Resources all posted notable year-over-year climbs. New entrants include BKV Corporation, TXO Partners, Infinity Natural Resources and Prairie Operating, reflecting ongoing shifts in the Lower 48 landscape.

The ranking also reveals the ability to integrate assets, adopt advanced analytics, and optimize multi basin development strategies is becoming a defining advantage for public operators

The use of Enverus’ ranking extends beyond operators themselves. For example, the Geology Department at Stephen F. Austin State University (SFA) integrates real world subsurface data, well logs, header data, and directional data directly into its curriculum to prepare students for careers in geoscience, energy analytics, and subsurface modeling.

“One of the biggest challenges in teaching geology is providing students with access to real-world data and tools,” said Julie Bloxson, associate professor at Stephen F. Austin State University. “Enverus makes it easy for us to integrate comprehensive geological data into our curriculum, enhancing student learning and preparing them for their future careers. Enverus helps us create comprehensive models for the subsurface work that we do. It supplies not just well log data, but also header data and directional data, which are crucial for our projects,” Bloxson said.

This Top Public Operators list, compiled using Enverus Foundations® energy data, incorporates last year’s mergers, includes well breakdowns by oil, liquids and gas production, total company well counts, and recent rig count trends. The list appeared in Upstream Pulse, Enverus’ bi monthly report covering E&P activity, dealmaking, and energy market intelligence.

Key takeaways:

• Top 3 operators: ExxonMobil, Expand Energy (formerly Chesapeake Energy), ConocoPhillips
• Permian Basin dominance: 6 of the top 10 list the Permian as their primary region
• Gas weighted producers (Expand, EQT, Antero, Range, CNX and others) anchor the Eastern U.S.
• Rig activity: ExxonMobil (37 rigs), ConocoPhillips (33), Occidental (30)
• Top movers: ConocoPhillips (+3), EQT (+2), Crescent (+3), Range (+3), Chord (+3), CNX (+3)
• New entrants: BKV Corporation (#30), TXO Partners (#38), Infinity Natural Resources (#40), Prairie Operating (#44)

Download the Ranking

Methodology: Production and ranking for 1H25 include all gross operated production from assets and companies acquired up to and including Dec. 1, 2025, as accounted for in Enverus’ platform; as a result, all changes in rankings are based on organic production changes on the post-transacted assets. Oil production includes condensate. Primary Enverus Region refers to the region with the highest contribution to production and ranking in this table, not necessarily for the company as a whole. Rig numbers are from middle of 1H25. Numbers are subject to change because of lags in reporting.

About Enverus
Enverus is the energy industry’s most trusted source for decision intelligence and operational efficiencies. With petabytes of proprietary data, deep domain expertise and AI-native technology, Enverus empowers customers to invest smarter, operate more efficiently, and scale faster — across upstream, midstream, minerals, power and renewables — all while navigating the most complex energy market in history. Learn more at Enverus.com.

Supersonic Shift: Boom Accelerates Distributed Generation

Aerospace-energy crossover Boom Technology, Inc. (trade name Boom Supersonic) is making waves beyond aviation with a recent deal to supply 29 Superpower 42 MW natural gas turbines, derived from its Symphony supersonic jet engine, to Crusoe. The AI infrastructure provider also disclosed 29 ~35 MW aeroderivative gas turbines from GE Vernova in 2024-25. The deals signal a broader shift toward distributed generation as data centers drive intensifying energy demand.

Enverus Intelligence^® Research finds the inability of utility-scale infrastructure to keep pace with hyperscale demand is accelerating the adoption of behind-the-meter solutions. We project annual production of small-scale turbines, reciprocating engines, and fuel cell technologies will increase more than 3 GW from 2024-27 (Figure 1) as operators seek alternatives to large projects slowed by supply-chain bottlenecks and long development timelines.

Timelines diverge sharply: utility-scale turbine delivery lead times, averaging ~2.5 years plus two years for construction, are pushing new-build gas economics higher, while aeroderivative packages can be installed in weeks to months. For data center operators, this dynamic underscores the urgency of securing reliable generation capacity amid tightening supply chains. As hyperscale growth continues, collaborations such as the Boom Supersonic-Crusoe partnership highlight a critical pivot in the power sector: distributed generation is a strategic necessity to meet rising data center loads while mitigating grid stress. In this landscape, distributed power generation and energy storage systems are essential components for achieving distributed energy generation goals.

This blog offers just a glimpse of the powerful analysis Energy Transition Research delivers on the trending themes, don’t miss the full picture.

Get the Full Picture

Research Highlights:

2026 Global Energy Outlook – Enverus Intelligence® Research’s 2026 outlook for global oil and gas markets, the energy transition space as well as North American and international E&P activity.

Long-Term Load Forecast – Pushing Peaks – This report encompasses our view on how exponential load drivers will impact our power demand forecasts from 2025-50.

Biofuel Feedstocks – Go Local To Stay Viable – EIR’s assessment of how recent U.S. policy-driven feedstock restrictions affect biofuel competitiveness and which producers are best positioned to remain resilient.

Reliability on the Edge – Fast-Tracking the Queue – We examine the market impacts of recent developments in fast-track interconnection processes in SPP, PJM and MISO.

DID YOU KNOW?

Boom Supersonic says its Superpower system packages a 42 MW turbine and generator into a shipping container-sized footprint for fast deployment. The unit can operate without water, targeting hot, arid locations where cooling water is limited.

Key Takeaways

Why is Boom Supersonic’s deal with Crusoe significant?

It marks a major aerospace-energy crossover, leveraging jet engine technology for distributed power generation to meet surging AI-driven energy demand.

What’s driving the shift toward distributed generation?

Utility-scale projects can’t keep pace with hyperscale data center growth due to long lead times and supply-chain bottlenecks, making behind-the-meter solutions essential.

How do aeroderivative turbines change the game for data centers?

They offer rapid deployment, weeks to months versus years, providing critical flexibility and reliability as operators race to secure generation capacity.

Enverus Intelligence® | Research, Inc. 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.

Venezuela’s return: North America to absorb incremental heavy oil supply as Brent outlook remains unchanged

CALGARY, Alberta (Jan. 14, 2026) Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy SaaS company that leverages generative AI across its solutions, is releasing new research analyzing the implications of Venezuela’s re-entry into global oil markets for U.S. Gulf Coast and Canadian crude dynamics.

Venezuela’s return to the global supply system is projected to increase oil production by approximately 500,000 barrels per day, reaching 1.5 million barrels per day by 2035. Despite recent political changes and potential sanctions relief, EIR finds that near-term impacts on Brent prices will be muted due to existing market oversupply and China’s strategic stockpiling last year.

“Even with accelerated sanctions relief, we still see 1–2 million barrels per day of global oversupply in the first half of 2026 and limited incremental volumes from Venezuela,” said Al Salazar, Head of Macro Research and Director at EIR. “Our near-term Brent outlook remains unchanged.”

“Sanctions relief will redirect Venezuelan crude toward the U.S. Gulf Coast, increasing competition among heavy barrels and widening Western Canadian Select (WCS) differentials. The region’s extensive refining capacity, combined with Canada’s ability to flexibly redirect exports, will be pivotal as market dynamics evolve.”

Key takeaways:

Venezuela’s oil production is forecast to rise to 1.5 million barrels per day by 2035, with a potential high-case scenario of 3.0 million barrels per day if political and investment conditions improve.
Near-term Brent price impacts are expected to be minimal, as global markets remain oversupplied by 1–2 million barrels per day in the first half of 2026.
Western Canadian Select (WCS) Houston differentials have widened relative to WTI, reflecting market anticipation of Venezuelan crude re-entering the region.
Long-term global oil balances are projected to face a deficit of 2 million barrels per day by 2035, creating space for Venezuela’s incremental supply without materially impacting prices.

EIR’s analysis leverages proprietary data and modeling, and draws from a variety of products including Global Research and Enverus AI.

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Additional Resources:

Venezuela’s return to the global oil stage could reshape trade flows, pricing dynamics, and investment strategies. Join Enverus experts for a data-driven webinar and overview of Venezuela’s re-emergence and its implications for U.S. Gulf Coast and, Canadian crude prices and global upstream strategies. Register Here.

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.

Breaking news alert on the impact on oil prices due to Israel attacking Iran

Enverus releases 2026 Global Energy Outlook highlighting commodity price pressure, increasing strain on power systems and geopolitical shifts in oil markets

AUSTIN, Texas (Jan. 13, 2026) — Enverus, the leading energy SaaS and analytics platform, is releasing its 2026 Global Energy Outlook, a comprehensive overview that frames the year around hydrocarbon prices, power system realities, upstream efficiency, selective low‑carbon investment and geopolitical risks such as evolving conditions in Venezuela and Iran that continue to influence global oil supply sentiment.

Enverus’ latest outlook calls for Brent crude oil to average about $55 per barrel in 2026, Henry Hub natural gas to average about $3.80 per MMBtu this winter and $3.60 next summer, Permian Basin gas supply to rise ~1.1 Bcf/d by year end, and European TTF natural gas to hold near $10–$12 per MMBtu as power markets lean more on firm capacity and grid reliability.

“2026 is a year of recalibration as capital focuses on specific winners like gas-fired generation and landfill RNG, grid operators tightening AI-driven load forecasts, and data centers move toward behind-the-meter generation,” noted Ian Nieboer, managing director of Enverus Intelligence® Research.

Dane Gregoris, managing director at Enverus Intelligence® Research added, “Our work shows oil prices will reset lower in 2026 without signaling long-term scarcity. Upstream operators will continue to push for efficiency gains while capital stays highly selective.”

Key takeaways:

Oil prices reset before recovering. Brent is projected to average about $55/bbl in 2026 with first‑half weakness followed by second‑half stock draws as markets weigh geopolitical headlines from Venezuela, Iran and Russia.
Gas benchmarks remain constructive. Henry Hub averages about $3.80/MMBtu in winter and $3.60/MMBtu next summer, while TTF stays near $10–$12/MMBtu amid steady global LNG demand and renewable balancing needs.
Associated gas rises with new takeaway. Permian gas supply is expected to increase ~1.1 Bcf/d by year‑end 2026 as pipeline expansions progress toward Gulf Coast markets.
Power markets absorb last year’s policy changes. Expect increased renewable portfolio distress and divestitures, gas-fired generation M&A to remain hot (above $1 million/MW), and BESS to reach saturation in some markets (ERCOT).
Independent System Operators (ISOs) tighten AI‑driven load assumptions leading to lower ISO load forecasts. Meanwhile, utility reforms push more data centers to seek behind-the‑meter generation.
Capital to remain selective across transition technologies. Landfill renewable natural gas (RNG) and carbon capture and storage (CCS) screen as winners on aftertax‑returns basis, while hydrogen and manure-based‑renewable natural gas (RNG) face headwinds from weaker incentives and market signals.

Enverus’ analysis pulls from a variety of products including Enverus PRISM®, Enverus FOUNDATIONS® – Carbon Innovation, Short‑Term Grid Analytics & Forecasting Solutions, Oil & Gas Production Forecast Solutions (Forecast Analytics), Enverus CORE®, and Enverus AI.

Authored by more than 120 experts and proprietary datasets, Enverus has created a publicly available e‑book of its 2026 Global Energy Outlook containing insights across natural gas, power, upstream, and M&A for professionals in finance, operations, renewables, and oilfield services.

Download 2026 Energy Outlook Report

Enverus Press Release - Looking past the CCUS power plant pipe dream

Navigating the Shifting Tides: Venezuela’s Oil and the Future of Canadian Energy

Unlock real-time, actionable energy insights. This blog offers just a glimpse of the powerful analysis Oil & Gas Research delivers on today’s energy markets, don’t miss the full picture. Click here to learn more.

The global energy landscape is perpetually in motion, and recent developments surrounding Venezuela’s oil industry have introduced new complexities for key players, including Canada. US President Donald Trump’s stated plan to take control of Venezuela’s oil industry has ignited discussions about its potential impact on Canadian energy. While Prime Minister Mark Carney expressed confidence in Canada’s continued competitiveness, the market has already shown signs of unease, with shares for some of our largest producers experiencing a hit. This analysis will delve into the factors influencing Canada’s oil sector and explore how these changes could reshape market dynamics.

Canada’s Resilient Energy Sector: A Foundation of Strength

Prime Minister Carney’s confidence in the Canadian energy sector is rooted in its inherent strengths. He highlighted its low risk, low cost, and low carbon profile as key competitive advantages. From our perspective at Enverus Intelligence® Research, this assessment reflects the sector’s significant evolution over the past decade or two. The Canadian energy sector has undergone extensive rationalization and cost-cutting, particularly following the shale war, making it “lean and mean.” This operational efficiency allows it to withstand periods of low oil prices, a testament to its resilience. The “low risk” aspect, as we interpret it, speaks to the consistency and reliability of Canadian production, a crucial factor in a volatile global market.

The Venezuelan Variable: Competition at the Gulf Coast

While much of Canada’s crude oil (approximately 2.5 million out of 4 million barrels per day) flows securely to the U.S. Midwest, a significant portion, about 500,000 barrels per day, makes its way to the U.S. Gulf Coast. This segment of our exports is where potential competition from Venezuelan crude could emerge. Historically, Canadian producers have competed with Venezuelan crude in this market. A critical, often overlooked, aspect is Venezuela’s current export strategy, which includes shipping just under 1 million barrels per day to China at a discounted price, potentially $20 below market rates. Should the US take control and redirect these volumes, or other existing Venezuelan oil production, to the Gulf Coast, it could create direct competition for Canadian crude.

Promotional banner reads 'A New Oil Chapter: Venezuela's Impact on Global Markets'

The Timing Question: A Multi-Year Horizon

The prospect of US oil companies revitalizing Venezuela’s oil infrastructure raises questions about timing and feasibility. President Trump’s vision involves large US oil companies investing billions to fix the “badly broken infrastructure” and generate revenue for the country. However, the immediate challenge is establishing security, which is currently lacking. We anticipate a significant timeframe for such an undertaking, with estimates ranging from half a decade to a full decade. Looking at historical parallels, the process of bringing Iraqi production back online after the removal of Saddam Hussein took approximately 10 years. While expedited timelines are possible, the current oil price environment, with WTI in the high $50s and Brent in the low $60s, suggests US operators may not be eager to commit substantial capital to new projects immediately. Nevertheless, the existing Venezuelan production could still impact Canadian crude in the interim.

Sanctions and Market Dynamics: A Pricing Pressure Point

Canada has benefited from the US sanctions against Venezuela over the past decades, as it limited the supply of Venezuelan crude to the market. The removal of these sanctions, particularly if the US assumes control, would fundamentally alter market dynamics. The redirection of Venezuelan crude, especially the volumes currently going to China, to the U.S. Gulf Coast is a logical outcome. We anticipate that Venezuelan crude would likely be offered at a lower price point than Western Canadian crude at the Gulf Coast. This increase in supply would inevitably exert downward pressure on pricing. For Western Canadian producers, even a reduction of a dollar or two in their received revenue per barrel would be meaningful, directly impacting profitability. This anticipated pricing pressure is a key reason why Canadian oil equities saw a sell-off following the initial news.

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Charting a Course Through Uncertainty

The evolving situation in Venezuela presents both challenges and opportunities for the global oil market, and particularly for Canada. While the Canadian energy sector has proven its resilience and competitive edge through past trials, the potential re-entry of Venezuelan crude into key markets like the U.S. Gulf Coast demands careful monitoring. We believe that by focusing on continued cost efficiency, consistent production, and strategic market positioning, the Canadian energy sector can navigate these potential headwinds. The long-term implications of these geopolitical shifts will unfold over several years, underscoring the importance of continuous analysis and adaptive strategies.

Key Takeaways

What makes Canada’s oil sector competitive amidst global shifts?

Canada’s oil sector is competitive due to its low risk, low cost, and low carbon profile, having undergone significant rationalization and cost-cutting to become lean and resilient.

How could Venezuelan oil impact Canadian exports to the U.S. Gulf Coast?

If Venezuelan crude, especially volumes currently going to China, is redirected to the U.S. Gulf Coast, it could directly compete with the approximately 500,000 barrels per day of Canadian crude currently sent there, potentially leading to downward price pressure.

What is the estimated timeline for a significant return of Venezuelan oil production under U.S. management?

Bringing Venezuelan oil production fully back online under new management is estimated to take half a decade to a decade, contingent on establishing security and significant capital investment, similar to the 10 years it took for Iraq.

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. See additional disclosures here.

Enverus/RatedPower Press Release - RatedPower publishes 2025 Global Renewable Trends Report examining the green landscape

The Week in Energy – Jan. 9, 2026

This week’s energy headlines were shaped by a major U.S. policy shift, leadership changes in U.S. natural gas, steady upstream growth in Canada and Brazil and continued investment in North American midstream and power infrastructure. Here are the stories that stood out.

Additional Stories

Also this week: A new North Dakota gas pipeline moved a step closer to reality, BP handed out a key deepwater subsea contract in the Gulf of Mexico, a U.S. utility advanced a large fuel-cell power project and Pattern Energy expanded its renewables platform with a major acquisition.

To learn more, reach out to businessdevelopment@enverus.com or visit www.enverus.com.

Enverus Intelligence® Research Press Release - Recap: How the Trump Administration is reshaping energy markets

2026 Energy Market Outlook | Long Lady Liberty

Our annual Global Energy Outlook highlights public infrastructure timelines continuing to lag the rapid pace of data center expansion, prompting hyperscalers to adopt behind-the-meter power solutions to accelerate availability. The outlook, published last month, summarizes our predictions on 2026 themes across energy markets, from the future of AI-driven energy demand to Permian gas supply increases. It concludes the trend to divert potential demand away from assets owned by utilities and independent power producers directly benefits oilfield services providers and midstream gas suppliers such as LBRT (Figure 1).

Shortly after the outlook’s release, LBRT announced a strategic partnership with Vantage Data Centers to deliver up to 1 GW of power generation capacity over the next five years, including 400 MW reserved for 2027. Enverus Intelligence^® Research expects it to become increasingly evident in-house generation solutions offer the fastest path to first power for hyperscale campuses, creating a significant near-term opportunity for traditional oilfield services power providers.

Research Highlights:

2026 Global Energy Outlook – Enverus Intelligence® Research’s 2026 outlook for global oil and gas markets, the energy transition space as well as North American and international E&P activity.
Long-Term Load Forecast – Pushing Peaks – This report encompasses our view on how exponential load drivers will impact our power demand forecasts from 2025-50.
Biofuel Feedstocks – Go Local To Stay Viable – EIR’s assessment of how recent U.S. policy-driven feedstock restrictions affect biofuel competitiveness and which producers are best positioned to remain resilient.
Reliability on the Edge – Fast-Tracking the Queue – We examine the market impacts of recent developments in fast-track interconnection processes in SPP, PJM and MISO.

Enverus named Best Place to Work across key U.S. markets

AUSTIN, Texas (Jan. 7, 2026) — Enverus, the most trusted energy‑dedicated SaaS company that leverages generative AI across its solutions, today announced it has been honored across four categories in Built In’s 2026 Best Places to Work Awards. Enverus’ workplace environment emphasizes professional development, inclusive culture, and hybrid flexibility, supported by ongoing programs that empower employees to grow their careers while contributing to meaningful outcomes for customers across the energy ecosystem.

For 2026, Enverus earned placements on the following lists:

Best Large Places to Work in Colorado
Best Places to Work in Dallas
Best Large Places to Work in Austin
Best Places to Work in Houston

These recognitions celebrate organizations that excel in compensation, benefits, workplace culture, and employee experience, reflecting Enverus’ continued commitment to cultivating a workplace where innovators, problem solvers, and energy experts can thrive.

“Being recognized again as a Best Place to Work is a direct reflection of our people,” said Matt Johnson, president and CRO at Enverus. “Our teams drive transformation across the energy value chain every day, combining AI, analytics, and domain expertise to solve the industry’s toughest challenges. These awards underscore the environment we’ve built together: innovative, inclusive, and deeply mission‑driven. It’s an honor and privilege to have the company recognized for its hard work and commitment to excellence.”

Built In’s annual awards evaluate companies using its proprietary algorithm, which considers employer benefits, flexible work opportunities, compensation, and culture programs. Enverus’ performance across multiple markets showcases the company’s dedication to attracting and retaining top talent in the rapidly evolving energy and technology sectors.

The company continues to expand its investment in talent, equipping employees with cutting‑edge tools, including AI‑powered workflows, and fostering a collaborative environment that accelerates innovation.

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 6,000 customers in 50 countries. Learn more at Enverus.com.

About Built In’s Best Places to Work
Built In’s Best Places to Work Awards honor companies of all sizes and stages that offer the best compensation packages, benefits, and employee‑centric policies. The 2026 lists will go live publicly at 8:30 a.m. EST on January 6, 2026, at which point recipients may begin promotional activities.

Enverus Press Release - Speed through records with Enverus Instant Analyst™ - Courthouse

2026 Power and Renewables Outlook for Energy Consultants: Navigating Demand

As energy advisors and renewable energy consultants prepare for 2026, the power sector is entering a period of rapid transformation. With data center growth, electrification, and evolving policy landscapes driving unprecedented changes, your clients need actionable insights to make informed investment decisions and optimize operational efficiency.

The recent 2026 Power and Renewables outlook webinar delivered expert perspectives on the trends shaping the grid, capacity markets, and technology choices. This recap distills the key takeaways to help you guide stakeholders through changes and complexities that we expect to shape 2026.

Key Drivers Shaping the 2026 Power Market

The American power grid stands at a crossroads that few anticipated just five years ago. While renewable energy dominated headlines and investment portfolios, a fundamental shift has been quietly reshaping the entire electricity landscape.

The focus is shifting from pure renewable development to reliability and affordability. Capacity prices in PJM have surged, reflecting system-wide scarcity for generation. The Effective Load Carrying Capability (ELCC) framework highlights the value of thermal resources during extreme events, while renewables and batteries play supporting roles.

What is driving this shift?

Demand Growth & Electrification: Data centers, electric vehicles, and industrial electrification are fueling unprecedented load growth—projected at 17.4% by 2035 and over 40% by 2050. This surge is concentrated in hotspots like PJM Dom and ERCOT West.
Policy & Market Dynamics: The One Big Beautiful Bill Act (OB3) and the accelerated roll-off of IRA tax credits are reshaping project economics, especially wind and solar. Navigating these policy headwinds and identifying where incentives still create value is critical.
Balancing Decarbonization Priorities: The market’s complexity now requires balancing decarbonization goals with the realities of grid stability and cost. Staying ahead means interpreting these trends, anticipating regulatory shifts, and building resilient strategies. In this environment, adapting to evolving market signals is essential—reliability, flexibility, and strategic asset allocation are more critical than ever.

Technological Forecast: Three Phases of Market Transformation

See how the next 25 years will unfold, with distinct phases for solar, coal, and nuclear technologies.

The market will move through three phases:

2025–2035: Solar and battery projects rush to capitalize on expiring tax credits. However, it is important to also prepare for a sharp shift in project economics post 2027.

2035–2040: As coal plants retire, natural gas and batteries will fill the gap in baseload capacity. This transition period may bring volatility in both pricing and reliability.

2040–2050: Small modular reactors (SMRs) and behind-the-meter solar are expected to gain traction as cost curves improve and policy mandates drive adoption. There is an opportunity to benefit from emerging technologies and new business models in distributed energy.

Aligning Investment Decisions with Market Realities

Appetite for gas-fired assets remains strong, with rising valuations and investor interest. However, oversupply risks may emerge if demand growth falls short due to data center delays or efficiency gains. Developers face headwinds from policy changes, but batteries and hybrid projects offer attractive economics, especially in markets like PJM. Geothermal and advanced nuclear retain full tax credit eligibility, positioning them well for future growth. Data centers and other load centers can participate in demand response programs, increasing grid flexibility without straining peak load.

Watch the Webinar Replay for Actionable Insights

To move from market awareness to effective action in 2026, it’s essential to hear directly from the experts. The full Enverus webinar replay offers in-depth analysis, practical recommendations for energy advisors and consultants plus answers to the questions your clients expect you to know:

Where will demand growth be strongest, and how should we plan for it?

How will rising capacity prices in PJM and other markets impact power costs and investment? returns?

What signals in M&A activity should investors and advisors act on now?

Watch the webinar replay to discover how you can turn these insights into strategic decisions and operational success in 2026.

Mauritania and Senegal: Opportunities and challenges in Africa’s forgotten hot spot

CALGARY, Alberta (Dec. 30, 2025) Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy SaaS company that leverages generative AI across its solutions, has released a new report examining the evolving outlook for oil and gas in Mauritania and Senegal, within the MSGBC (Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea-Conakry) Basin. Once a magnet for supermajors, the basin now faces a mixed picture: proven resource potential alongside significant investment headwinds.

Senegal and Mauritania have transitioned from frontier exploration zones to established producers. Sangomar, offshore Senegal, has been delivering around 100,000 barrels of oil per day, while Greater Tortue Ahmeyim (GTA) has reached approximately 250 million cubic feet of gas per day. These projects, online for over a year, underscore the basin’s technical capability and the value of years of development.

Despite more than 600 million barrels of oil and nearly 90 trillion cubic feet of gas discovered, large swaths of acreage remain underexplored. Opportunities exist for agile independents and national oil companies to leverage existing infrastructure and proven petroleum systems. Planned expansions, such as Sangomar Phase 2 and GTA Phase 1+, aim to further enhance regional output by the end of the decade.

However, optimism must be weighed against reality. Since 2019, international oil companies have relinquished 23 offshore licenses and over 170,000 sq km of acreage, citing regulatory changes, fiscal tightening and market volatility. Political uncertainty, tax disputes, infrastructure bottlenecks and evolving fiscal terms continue to challenge investor confidence and highlight the need for stability and predictable frameworks.

Both governments are offering open acreage through direct negotiations, aiming to attract new entrants. Yet, reversing the exploration exodus will require competitive terms and clear alignment on development priorities. While the basin’s resource base is undeniable, sustaining momentum from Sangomar and GTA will be critical to restoring investor interest.

“The start-up of Sangomar and GTA demonstrates what’s possible in the MSGBC Basin,” said Jimmy Boulter, regional manager at EIR. “But future success depends on addressing above-ground concerns and fostering a competitive upstream environment. With the supermajors stepping out of Mauritania and Senegal but into neighboring Guinea-Bissau and The Gambia, the MSGBC Basin is entering a new era where a wider mix of companies will need to redefine exploration and development.”

Key takeaways:

Senegal and Mauritania have transitioned from frontier exploration zones to established producers, following major project milestones in 2024 and 2025.
International oil companies have exited the region, relinquishing 23 offshore licenses and over 170,000 sq km since 2019, driven by regulatory changes and market volatility.
Output from Sangomar and GTA is ramping up, providing reliable cash flow and supporting future expansion, with Sangomar Phase 2 and GTA Phase 1+ on the horizon.
Both countries are offering open acreage via direct negotiations, with a new wave of explorers needed, including national oil companies and independents.
Infrastructure bottlenecks and evolving fiscal terms remain key obstacles to revitalizing exploration and development.

Ramp in Oil and Gas Production Following Project Startups

EIR’s analysis pulls from a variety of products including Enverus PRISM®, Enverus FOUNDATIONS®, Global Research, and Enverus AI.

View Report Here

You must be an Enverus Intelligence® subscriber to access this report.

Industries

Enverus releases Top 50 Public E&P Operators of 2025

Key takeaways:

Supersonic Shift: Boom Accelerates Distributed Generation