Blog Feed | Enverus

Updated US residential solar and storage forecast predicts major shifts in power demand by 2050

CALGARY, Alberta (Sept. 10, 2024) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released an updated view of its U.S. Residential Solar and Storage Forecast and the impact on power demand until 2050. By forecasting solar savings and hourly impacts on load, EIR can assess the key regions that are poised for significant grid offset through behind the meter solar generation.

“There is a link between the rise in intermittent renewable adoption and higher retail power prices across the Lower 48 states,” said Kevin Kang, analyst at EIR. “As residential solar and storage costs continue to decline, coupled with anticipated increases in retail power prices due to state renewable targets, the economic appeal of residential solar and storage continues to grow.”

“Our forecast suggests significant changes in power demand for CAISO, ERCOT, SE and NYISO, with evening peaks shifting later as storage systems become active after solar production hours. We also anticipate increased investment in both utility-scale and residential storage solutions to address the impact of growing residential solar adoption,” Kang said.

Key takeaways from the report:

EIR expects residential solar installations to reach 47% of households in the U.S. by 2050 (up from 41% six months ago).
Based on EIR’s updated U.S. Residential Solar and Storage Forecast, widespread adoption is anticipated in states like Texas, California, Florida and New York. This trend is driven by rising retail power prices, which enhance the savings potential for customers as intermittent renewable generation becomes more prevalent.
EIR expects most households to install solar paired with storage by 2032, except in California and Arizona, where the early adoption of a net billing tariff is expected to accelerate storage adoption starting in 2026.
As the economics of residential solar and storage systems become more appealing, power markets will experience greater volatility, driving an urgent need for increased investment in storage solutions.

EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research and Enverus FOUNDATIONS®.

Kevin Kang and Juan Arteaga of EIR will be presenting these findings at RE+, one of North America’s largest clean energy industry events, Sept. 10, 2024. Their market outlook presentation begins at 1 p.m. PDT and will be held at the Storage Central Theater, #50095, Hall B of the Anaheim Convention Center & Campus.

Enverus’ exhibit location at RE+ is A57073. View the RE+ Conference floor map here.

Additional Resources:

Beyond the horizon: US solar and storage solutions are on the rise (March 28, 2024)
Power and energy transition M&A soars to $79 billion in 1H24 (Sept. 3, 2024)
Enverus reveals Texas’ renewable energy hot shots (Sept. 4, 2024)

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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. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. 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.

Media Contact: Jon Haubert | 303.396.5996

Enverus Press Release - Canadian oil sands: Back in the limelight

Maximizing Resources in a Dynamic Market: The Path to Strategic Development

Introduction

Producers and stakeholders are at a crossroads, as the oil and gas market balances asset longevity with immediate returns, while also managing the escalating demand for operational efficiency. Asset teams are key to successfully navigating this delicate and complex environment, holding the keys to unlock ways to optimize resource allocation while sustaining profitability.

Our investigation transitions now to strategizing development across the area of interest in the Midland Basin that we dove into to explore the subsurface intricacies in Part 1: Decoding the Subsurface.

Our aim in Part 2 of the Advanced Workflow Blog Series is to chart the most resource-efficient and economically viable pathway forward, though four key steps:

Part 2: Comprehensive Production Evaluation – Looking Beyond Single Well Performance

Step 1. Decoding the Development Paradigm

The Midland Basin, with its diverse stratigraphy, defies simple, blanket development strategies. Techniques like batch drilling and simultaneous completions are promising but require nuanced application due to the basin’s geological variability.

The biggest question within these batch drills or co-completed developments is, What is the optimal spacing for each zone? And, subsequently, how does my development timing impact spacing? The answer to these questions varies across the basin, alongside the variation in the optimal amount of stacked pay and productivity per zone. To identify an answer, we need to look at the whole drilling spacing unit (DSU) to truly understand how the wells will impact one another, both horizontally and vertically in the subsurface.

Step 2. Aggregating Metrics at the DSU Level

Average well production can only take your analysis so far because it lacks nuance around spacing and full stack development. When production and economics are aggregated at the DSU level, this then allows us to truly identify the parts of the basin that are the most prolific, but also potentially the most depleted, all while factoring in the geological diversity that defines the basin.

Step 3. Quantifying Production Degradation: Timing Matters

A distinct pattern across the basin underscores the influence of development timing on production efficiency. Our analysis reveals a noticeable decline in oil EURs for wells initiated later within the same units, a trend particularly pronounced in shallower regions of the basin. The data suggests the critical need for foresighted development strategies that preserve future production potential.

In the most heavily developed areas, we are seeing lateral-normalized oil EURs drop from around 45-60 bbls/ft in the first wells in the unit to about 28-44 bbls/ft in the twenty fifth well in the unit (Figure 1). This puts undeveloped reserves heavily at risk when units are revisited after only one or two zones are developed initially.

We see this production degradation impact is more exaggerated in shallower zones of the Midland Basin (e.g. Jo Mill, Middle Spraberry and Lower Spraberry).

*Figure 1: Production degradation across the Midland Basin, ordinal well rank by normalized oil EUR (bbls/ft) shows the wells developed later in the unit perform the worst.*

Step 4. Finding the Development Sweet Spot

As more wells are packed into a DSU, EUR and NPV per acre is expected to improve – to a tipping point. It is possible to reach the point of diminishing returns by packing too many wells into the unit, thus negatively affecting capital efficiency (Figure 2).

The allure of maximizing immediate well count within a DSU can lead to a short-sighted saturation, jeopardizing long-term capital efficiency. Striking the right balance between well density and economic sustainability demands a tailored, strategic approach to development.

*Figure 2: DSUs in SE Midland Basin showing with increased count of horizontal wells; there is a point of diminishing returns of NPV after approximately 10 wells.*

Key Takeaways: The Enverus Advantage

As the industry contends with these complex challenges, the transition from well-centric analysis to overarching development strategy becomes imperative. Comprehensive insights and analytics from Enverus empower stakeholders to not only navigate but thrive amid these dynamics. With Enverus Development Modeling Solutions, you will be able to strike that balance between productivity, inventory and capital efficiency to deliver a blueprint for maximized profitability.

Join us in our upcoming webinar where we go deeper into these strategies, offering a comprehensive guide on deploying Enverus tools for optimal development planning.

Learn More about our Inventory Solutions

Companies urged to prioritize actual emissions cuts over offsets

With carbon credit markets in reputational disarray and no easing of Scope 3 emissions offsets in sight, companies are being increasingly advised to reduce emissions rather than merely offset them. While several efforts are underway to restore confidence in offsets tracking and trading, the UN-backed Science Based Targets initiative—the primary verifier of corporate emissions plans—appeared to throw cold water on using credits to offset Scope 3 emissions, which are many oil and gas companies’ largest source of climate pollution.

The SBTi’s board suggested in April that the body ease Scope 3 standards but backed off the proposition after it was attacked by environmental groups and some of its own technical staff, which hadn’t yet studied the option. In late July, the SBTi released technical publications examining the prospect and largely rejecting it, with a call for more study.

The standards currently allow offsets for up to 10% of emissions in company plans. It said its review of third-party studies showed “various types of carbon credits are ineffective in delivering their intended mitigation outcomes … The vast majority of evidence submissions (84%) argue that treating carbon credits as fungible with other sources, sinks or reductions of emissions is inadvisable, illogical or damaging to global mitigation goals.”

Its Scope 3 technical paper stated, “the priority remains the direct decarbonization of the value chain. Credits cannot be used as a substitute for this.” It suggests companies use credits to cover emissions outside their current target boundaries, ensuring they go above and beyond existing requirements. This could incentivize financing for climate action without diverting resources from emissions reduction. SBTi will release a draft net zero corporate standard for public consultation this fall before finalizing a revised standard next year.

Companies with large Scope 3 emissions, which originate from supply chains and customers using their products, contend they cannot reach climate targets without offsets. Proponents also argue offsets are critical to unlocking trillions of dollars in private sector financing to counter climate change. Many studies, however, have found using carbon credits ineffective, exaggerated and susceptible to manipulation.

An analysis by The Guardian, SourceMaterial and Die Zeit last year found more than 90% of leading certifier Verra’s rainforest offsets are worthless. An investigation by rating agency Renoster and non-profit CarbonPlan found BP-owned Finite Carbon handed out credits for Alaskan forests likely never in danger of being harvested. Based on satellite data analysis, they said many so-called “high credibility, high integrity projects” provided little to no climate benefits, concluding, “We consider this type of manipulation to be ‘cheating.’”

Shell was handed two credits for every tonne of CO2 sequestered at its Quest CCUS facility by the Alberta government, creating what one environmental group called “phantom” carbon credits. Brazil’s Minister of the Environment and Climate Change Marina Silva recently warned carbon credit buyers to beware of fraud following alleged criminal schemes in the Amazon. Billions of dollars in upstream emissions reduction credits in Germany are also in question. One industry insider told Handelsblatt several projects in China demonstrated “massive irregularities and even clear fraud.”

After viewing draft documents, the Financial Times reported in July that a UN task force proposed carbon credits not be counted toward a company’s emissions reductions when purchased in voluntary markets. UN Secretary-General António Guterres went even further last December, urging “genuine decarbonization with detailed targets for 2025, 2030 and 2035,” while “avoiding dubious offsets or carbon credits, in any scope of emissions.”

U.S. Treasury Secretary Janet Yellen had a similar tone in May when she proposed new guidelines to support voluntary credits, pressing companies to prioritize reducing emissions. “In recent years, researchers and journalists have found that a number of projects have not delivered the quality or quantity of emissions savings they claimed,” she said. “We want this market to succeed, but that requires a widespread commitment to integrity that instills market trust.” The U.S. Commodity Futures Trading Commission is also working on finalizing its guidance on credits, with a rulebook expected by year’s end. Similar efforts to enhance offsetting credibility are underway in the EU and U.K.

Find more great content on the renewable energy sector, carbon management and environmental investments in the latest issue of Energy Transition Pulse.

About Enverus Intelligence Publications

Enverus Intelligence Publications presents the news as it happens with impactful, concise articles, cutting through the clutter to deliver timely perspectives and insights on various topics from writers who provide deep context to the energy sector.

Enverus reveals Texas’ renewable energy hot shots

AUSTIN, Texas (Sep. 4, 2024) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released a list of the top solar, wind and energy storage developers in Texas and the counties they operate in. This list leverages Enverus’ proprietary Interconnection Queue Analytics tool and transmission project tracking database to rank projects with high probability of becoming operational that are near planned transmission upgrades. This list also provides valuable insights into the leading players in the renewable energy sector, helping investors and interested stakeholders understand who is driving innovation and growth – and where.

“There are a lot of projects in the queue that will never see the light of day,” said Juan Arteaga, an analyst at Enverus Intelligence Research. “The developers on our list are known for their significant contributions to renewable energy projects in the Electric Reliability Council of Texas, including those in the queue and under construction. Storage, wind, solar and carbon capture will be an important make up of Texas’ power generation mix in the future. Rankings like this help shed new light and introduce reality on who’s making an impact, as well as establish benchmarks, areas for improvement and potential partnerships,” said Arteaga.

Figures are listed in probability megawatts (MW) by developer and location, sum | power plants.

Request the Full List

The list was created using Enverus PRISM®, Enverus’ hallmark energy decision-making platform and featured in Energy Transition Pulse, a bi-monthly that covers the renewable energy sector, carbon management and ESG investments, including projects, the deal market, finance and new technologies. Members of the media can request the list by visiting enverus.com/pulse-reports and downloading a copy of the Energy Transition Pulse.

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.

Impacts of Intermittent Energy

Retail power price growth by intermittent renewable generation (2014-2024)

The increasing integration of intermittent generation sources like solar and wind across the U.S. has contributed to rising retail power prices. The variable nature of these renewable energies requires significant investments in grid stability and reliability measures, such as backup generation and energy storage, to ensure a consistent power supply when renewable output fluctuates. The external costs created by new renewable energy projects are paid for by retail consumers and do not impact the project-level economics.

Northeast states exhibit a steady upward slope, while Texas and North Carolina show more gradual increases, with California falling somewhere in between (Figure 1). These trends align with regional patterns in interconnection costs and the challenges faced by states with lower capacity factors. These aspects, along with policy initiatives aimed at rapidly expanding renewable generation, are driving higher retail electricity prices as the grid evolves to manage a more complex and variable energy landscape.

Highlights From Energy Transition Research:

RE+ 2024 | Impact on Total U.S. Grid: Residential Solar and Storage: Presented at RE+ 2024, this slide deck highlights the latest insights from our updated U.S. Residential Solar and Storage Forecast, as well as the impact on power demand until 2050. By forecasting solar savings and hourly impacts on load, we can assess the key regions that are poised for significant grid offset through behind the meter solar generation.
Power and ET M&A Review | Load Growth Sparks Demand for Power Deals: This energy transition quarterly M&A review utilizes our Energy Transition M&A platform, which has captured more than 7,000 deals across 100 countries spanning power (generation, distribution, storage and integrated assets) plus alternative fuels, CCUS, equipment manufacturing, electric vehicles and mining of energy transition metals.
Seeing the Ceiling | Maximizing for Output of Today’s Gas-Fired Grid: This analysis looks at the maximum potential for incremental gas-fired generation from now until 2035, given load growth projections from data centers and other large loads in the U.S. It discloses which gas hubs will see outsized growth opportunities and which gas producers are exposed.

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. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Click here to learn more.

Enverus Press Release - The surprisingly balanced global LNG market

LNG Key to Satisfy Emerging Southeast Asian Market’s Appetite for Power

If you are an energy commodities analyst, the last few years have been interesting times indeed with a roller-coaster ride of lows and highs that have left natural gas prices stagnant and edging lower. North American markets are flooded with cheap and abundant gas with some Permian producers facing negative Waha prices having to flare amidst emissions hyperfocus or worse, pay to have associated gas hauled away. However, Enverus Intelligence® Research (EIR) believes that the stage is set to quickly move from stagnant to dynamic price moves in the coming year as three U.S. LNG facilities come online joined by a single mega-LNG facility in Canada.

The increase in North American LNG export capacity coincides with an important energy demand shift in southeast Asia that will certainly influence pricing in North American basins. Let’s drill into the details and explore the upside.

Energy Growth Drivers

Vietnam, Thailand, the Philippines, Malaysia and Indonesia represent the fastest growing economies in southeast Asia with 7% to 10% GDP growth over the next ten years. Supporting a long-term growth outlook is a growing population of more than 600,000,000 people in the region that is expected to add 30,000,000 working aged individuals. EIR thinks that this would position these countries to shift manufacturing out of China and Japan as their manufacturing workforce steadily dwindles.

Given the strong GDP growth and increasing manufacturing capacity, demand for electricity is likely to double, creating an appetite of energy that will be equal to the current power consumption of Canada and Mexico combined. But where will the power needed to sustain growth come from?

Regional Generation Constraints

With a sparce list of regional generation options that cannot possibly match demand, the booming Southeast Asia economies must find a reliable and sustainable energy supply, and fast. Gas production is drying up, especially in the Philippines, while new sources of supply face geopolitical headwinds as China’s influence looms large.

Located in the earthquake prone Ring of Fire, the region isn’t a good fit for nuclear power and unlikely to embrace it following the Fukushima meltdown. And while the Philippines owns a nuclear plant on the Bataan Peninsula, attempts to restart it have failed over the past fifty years.

EIR asserts that renewable energy could be a partial solution to the regional supply growth, however terrain and vegetation on the mainland and limited acreage across southeast Asia archipelagos largely rule out large-scale solar farms. Coal has always been the go-to power source for most developing countries, however, the intense focus on climate change and decarbonization create stiff headwinds to coal fired generation, leaving LNG imports the last man standing.

Sourcing LNG Globally

The good news for Vietnam, Thailand, the Philippines, Malaysia and Indonesia is that they have optionality when it comes to sourcing LNG. Qatar and Russia in the west will be constrained by travel through the Suez Canal and tense postures in the Middle East. Today, when EIR speaks about North American LNG, they’re just talking about the impending completion of new LNG trains on the Texas and Louisiana Gulf Coasts, which will open the vast reserves of the Haynesville Shale and stranded Permian associated gas to global markets.

However, there could be a potential breakout LNG player as the economics shift in Canada’s world class Montney Formation, a gas-rich shale play in northeast British Columbia and northwest Alberta. While LNG Canada is set to begin exporting Canadian LNG from the west coast in 2025, meeting the demands of the southeast Asian emerging market will take more trains than Canada currently has. Recognizing the importance of exports to the Canadian economy, the government of Alberta has made the addition of two or three more mega-LNG projects by 2030 an objective in its natural gas vision and strategy.

Indeed, EIR believes that Canadian LNG is well positioned to east Asia and emerging markets with roughly half the shipping time compared to the U.S. Gulf coast. But with many proposed projects in limbo, contracts for Montney gas may get locked up with global competitors if Canada doesn’t move faster to green light and build the envisioned LNG export capacity.

How can the Enverus | Kpler Partnership Help your LNG Trades?

Receive dashboards with LNG fundamentals including granular trade flow, pricing and inventory stock levels, to help you uncover market anomalies and act fast.

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Regasification, Storage and Geopolitics

When it comes to converting LNG to a consumable form of natural gas, regasification is not expected to be a constraint for southeast Asia’s emerging power market. Existing facilities can quickly be backstopped by offshore regasification. However, with limited storage capacity the market will be exposed to price volatility.

As with nearly every link in the energy value chain, geopolitics will also influence the success of meeting Southeast Asia demand with global LNG supply. This is evident in China’s influence in the South China Sea that discourages resource exploration as well as its imposed big brother relationship with the region.

With that said, this is an exciting time to be in commodity trading as the global LNG market begins to transform in North America over the next year.

*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. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. See additional disclosures here.

Power and energy transition M&A soars to $79 billion in 1H24

CALGARY, Alberta (Sept. 3, 2024) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing a summary of power and energy transition M&A for the first half of 2024.

EIR has tracked $79 billion in power asset and energy transition M&A through the first half of 2024 across 234 deals with a reported value putting M&A slightly ahead of 2023’s pace of $74 billion in the first six months, although the count for deals with a disclosed value declined by 35%. Including those where no value was disclosed, there were 540 announced deals in 1H24 compared to 877 deals in the first half of 2023.

Recording nearly $80 billion through the first six months of 2024, plus an additional $26 billion so far in 3Q24, is a showing of strength for power and energy transition deal markets despite multiple challenges including macro-economic factors like sustained higher interest rates that have raised financing costs.

“Industry specific challenges have included weakening pricing for renewable fuel credits (LCFS and D4/5/6 RIN prices) as well as lithium carbonate equivalent (LCE) pricing. A volatile environmental credits market has sparked uncertainty in investors’ minds leading to a compression in deal flow in alternative fuels in the U.S.,” said Ian Nieboer, managing director and head of Energy Transition at EIR.

total-transaction-value-by-year — *Source: Enverus Intelligence® Research, Enverus Energy Transition M&A*

In other power markets, particularly generation and storage assets in North America and Europe, have been a primary driver of energy transition deal value with $32.5 billion transacted through the first half of 2024. Europe led all regions with $17.1 billion in generation deals followed by North America with $7.4 billion transacted. The heightened activity in Europe is driven by the continent’s aggressive carbon reduction goals and efforts to pivot away from Russian natural gas. Within the U.S., ERCOT, MISO and PJM independent system operators have been a primary driver of deal activity in 2024. U.S. total load is forecast to grow 42% by 2050 from today driven by population growth, increased data center demand and electric vehicle adoption.

“Overall growth in the load, combined with greater integration of renewable generation assets, is creating unique opportunities in both generation and storage for nimble buyers,” Nieboer said.

Within generation deals, solar deals led through the first half of 2024 with $8.2 billion in announced deal value closely followed by offshore wind at $8 billion and onshore wind with $5.3 billion in announced deal value. Despite offshore wind leading in recently announced deals, markets have historically been cool to the idea of companies adding more offshore wind exposure with buyers declining on average 1.9% after announcing offshore wind acquisition while acquirers of onshore wind saw an average 1.3% gain. That is likely related to apprehension about high capital costs, long project timelines and regulatory risk for offshore wind.

While renewable penetration into power markets is increasing, some buyers see the value in owning existing gas assets that will provide reliability to the grid. In one of the more notable recent transactions in the power market, private equity firm Quantum Capital Group purchased Cogentrix Energy for $3 billion from Carlyle Group. The deal adds more than 5 gigawatts of natural gas-fired generation primarily in PJM, where gas generation is vital due to grid stability issues caused by coal retirements, intermittent renewables and increasing data center demand.

The largest decline in deals associated with energy transition has been in raw materials, with mining sector deals falling from $11 billion in the first half of 2023 to just $1.7 billion in 1H24. That tracks a precipitous decline in pricing with LCE declining in 2Q24 to sub-$12,000/tonne after hitting a peak of $81,000/tonne in December 2022. Alternative fuel deals were similarly challenged due to the decline in credit pricing in the U.S., which had been a primary focus of transactions in this space. However, a large investment by KKR in European biorefining and biomethane assets kept alternative fuel deal value relatively flat at $2.2 billion in 1H24 compared to $2.7 billion through the first six months of 2023.

“International investment by firms like KKR highlight the global nature of energy transition combined with differing policy priorities and incentives between regions that allow firms to reduce risk by diversifying geographic exposure,” Nieboer said.

Other energy transition technologies like CCUS and hydrogen remain at a less commercial stage of development and investment there is still largely focused on asset development and partnership rather than M&A. According to EIR data, 96% of tracked U.S. clean hydrogen capacity skewed to early development stages. However, deal activity should accelerate as more companies look to speed up exposure to these technologies by buying in to existing projects. Hydrogen M&A has increased sevenfold in deal value so far in 2024 compared to 2023.

“Looking forward toward 2025, we see continued strength for power market deals on the back of U.S. load growth and potential tailwinds from the macro-economic environment as the Federal Reserve pivots to rate cuts,” added Nieboer.

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Members of the media should use our new Request Media Interview option on the Enverus Newsroom page to schedule an interview with one of our expert analysts.

Media Contact: Jon Haubert | 303.396.5996

Clean Ammonia | Fertilizing a Blue Transition

More than 180 million tonnes of ammonia are consumed worldwide each year, mainly as fertilizer, with only 1% coming from clean sources. In North America, announced clean capacity is set to increase sevenfold by 2030, driven by its potential to economically transport low-carbon hydrogen overseas. However, few projects have reached a final investment decision as developers and investors evaluate the economic viability of different production pathways.

According to a recent report by Enverus Intelligence®Research, hydrogen production accounts for 75-90% of the levelized cost of ammonia (LCOA) for all analyzed cases, highlighting the need for inexpensive hydrogen feedstock (Figure 1). Gray ammonia facilities consuming hydrogen at $1.50/kg have the lowest before-tax LCOA at $438/tonne. However, when taxes and federal incentives are considered, blue ammonia can achieve cost parity with gray production, ranging between $425-$485/tonne. In contrast, subsidized green ammonia produced using ALK or PEM electrolysers costs roughly twice as much as the cheapest blue ammonia pathway, limiting its appeal to foreign markets with decarbonization mandates or demand-side incentives.

Highlights From Energy Transition Research

Seeing the Ceiling | Maximizing for Output of Today’s Gas-Fired Grid – This analysis looks at the maximum potential for incremental gas-fired generation from now until 2035, given load growth projections from data centers and other large loads in the U.S. It discloses which gas hubs will see outsized growth opportunities and which gas producers are exposed.

Quantum Bets Big on Natural Gas With $3B Cogentrix Acquisition (Reissue) – This Deal Insight examines Quantum Capital’s recent $3 billion acquisition of Cogentrix’s 11 natural gas-fired power plants from the Carlyle Group. The analysis covers key factors impacting valuation, including forward power price curves, projected power demand and capacity market prices.

Subpart W Revision | Modeling a New Baseline and the Super-Emitter Wild Card – This report analyzes the operator-level impact of the EPA’s finalized Subpart W reporting rule change under multiple scenarios and examines the risk that super-emitter events could add going forward.

Enverus releases inaugural Top US Drillers and customer rankings

AUSTIN, Texas (Aug. 27, 2024) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released a list of top drillers and customer rankings in the U.S., as well as detailed drilling rig analytics.

Included in the release is a compilation of exclusive tables showing the most active drillers by footage, ranking both the contractors and their customers. Powered by Enverus Core® data, these leaderboards also include average drilling speeds, measured depth (MD), laterals and rig counts, average fluid and proppant loads per foot, and comparison to their rankings the previous quarter. The list was featured in Oilfield Pulse, a bi-monthly report that covers the oilfield services sector, including contracts, the deal market, finance and new technology offerings.

“Enverus empowers us with unparalleled access to vital information, enabling us to maintain a competitive edge,” said Thomas Greene, senior marketing analyst at Tenaris and current customer of Enverus Intelligence® Research. “In our data-driven culture, where critical decisions rely on robust analysis, Enverus is absolutely essential. Without their comprehensive data resources, we would lack the insights necessary to excel in our roles and retain our leadership position in the market.” Neither Tenaris nor their employees were compensated for this statement.

“Enverus’ top drilling and customer rankings reveal who’s leading among some of the most important drilling matrix in the industry,” added Mark Chapman, principal analyst – OFS at Enverus Intelligence Research. “Rankings like these provide a comprehensive overview of market dynamics, identify who’s who and help operators make informed decisions to optimize efficiency and reduce costs. These rankings are a testament to Enverus’ commitment to delivering actionable insights that drive the energy sector forward.”

Table showing Top US Land Drillers of 1Q24 by footage

Chart-showing-top-US-land-drilling-customers-of-1Q24-by-footage

Request the Full List

Enverus is also making its Drilldown Report, which provides a weekly summary of North American rig activity, broken down by target hydrocarbon, well orientation, operator, contractor, region and play, available to the media. Other activity metrics presented in this report are permits, detected pads, frac crews and DUCs, with regional breakdowns. Regional leaderboards track the top 10 operators by rig count and permits.

Table-showing-drilled-uncompleted-wells-by-region-and-US-rig-count-by-basin-top-drillers

Media Contact: Jon Haubert | 303.396.5996

View all press releases at Envers.com/newsroom.

Enverus Press Release - The Barnett bonanza is coming

Exciting Changes for MineraliQ™ Users: A New Chapter with EnergyLink® for Enhanced Mineral Asset Management

We’re on the brink of an exciting transition that promises to reshape the way you manage and understand your assets. Change often comes with a mix of emotions—curiosity and perhaps a bit of hesitation. Rest assured, we’re here to guide you and make this transition as smooth as possible.

Reflecting on a Legacy of Simplification and Growth

For royalty owners, easy access to asset information is key. Over a decade ago, EnergyLink began providing simple software solutions to help operators facilitate communication with owners through a unified portal. As the network expanded the value to owners grew as you had one login portal for all in-network statements, JIBs, 1099s and more. Today, the Enverus EnergyLink network contains:

More than 1.5 million owners and 450+ operators
Operators handling 90% of onshore horizontal production

The Road to Bringing MineraliQ Under the EnergyLink Umbrella

As time has progressed technology has allowed for owners to have access to information prior reserved to only enterprise corporations. Enverus started more than 20 years ago, helping provide energy information to everyone from the individual mineral owner through super majors such as Exxon. As our capabilities have grown so has the value of the information provided. From rig locations tracked by GPS units and tracking of frac crews by satellite to full digital courthouses in Texas.

Many owners feel in the dark other than what is provided on their statements, which can often be confusing as they are statements of accounting. As a company, we realized there was a need to provide insights into individuals’ information from their statement in a simple and secure way with broader regulatory data. We built MineraliQ (MiQ®) as an experiment to build a first of its kind consumer application for the everyday mineral owner. It combined Enverus Energy Analytics data automatically with owners’ statement information to provide a simple platform to see where your assets are located, activity occurring around producing wells, cost-effective download options of data for auditing and basic valuations of producing assets. Since its launch, more than 25,000 owners have utilized the system. More than half of users are utilizing the applications mobile and tablet capabilities to track their ownership on the go.

With the success of the MiQ product line came a difficult decision as we look to streamline our product offerings, support, marketing and other teams. We have decided to integrate the MiQ product line under the EnergyLink name to simplify Enverus mineral offerings.

*A screen of the new Enverus EnergyLink Platform.*

Understanding the Changes: What Stays and What Evolves

There won’t be any loss of functionality or a change in prices for users stemming from this integration. To simplify, here’s how the names you’ve grown familiar with will transition:

MiQ Free accounts are renamed to EnergyLink Free.
MiQ Basic accounts will take on the new title of EnergyLink Essentials.
MiQ Plus accounts are evolving into EnergyLink Basic.

Frequently Asked Questions

Why is MineraliQ™ being integrated with EnergyLink?

By bringing together the best of MiQ’s features with the robust capabilities of our EnergyLink solution, we’re offering you an upgraded experience. Enjoy the convenience of accessing all your statements, including 1099s, in one place along with new features to view your wells on a map and track activity such as rigs and permits surrounding your assets. This streamlines all your mineral management needs in one place. Plus, it simplifies our subscription plans, ensuring improved end value for you.

What changes can I expect?

You will notice a new look and feel across our website, portal and communications. The product name will change, but the functionality and features of our products remain the same

Will the MineraliQ website be going away?

In the short term, no. Over time we are looking to consolidate logins to just Enverus.com. Many users are not aware, but you can login to EnergyLink or MiQ in three different locations:

Enverus.com. Login will go to Enverus Gallery where you can select which product to launch.
EnergyLink.com. Login will go to EnergyLink where you can launch MiQ from the dashboard or go to the Enverus Gallery to launch.
MineraliQ.com. Login will go directly to MiQ with the ability to launch EnergyLink from within the application.

How can I learn more about the product integration?

We invite you to watch a webinar replay for more detailed information.

Who can I reach out to with questions?

Please don’t hesitate to reach out to our support team. We’re here to ensure a seamless transition and to address any inquiries you may have.

Industries

Introduction

Part 2: Comprehensive Production Evaluation – Looking Beyond Single Well Performance

Step 1. Decoding the Development Paradigm

Step 2. Aggregating Metrics at the DSU Level

Step 3. Quantifying Production Degradation: Timing Matters

Step 4. Finding the Development Sweet Spot

Key Takeaways: The Enverus Advantage

Energy Growth Drivers

Regional Generation Constraints

Sourcing LNG Globally

Regasification, Storage and Geopolitics

Highlights From Energy Transition Research

Reflecting on a Legacy of Simplification and Growth

The Road to Bringing MineraliQ Under the EnergyLink Umbrella

Understanding the Changes: What Stays and What Evolves

Frequently Asked Questions

Why is MineraliQ™ being integrated with EnergyLink?

What changes can I expect?

Will the MineraliQ website be going away?

How can I learn more about the product integration?

Who can I reach out to with questions?

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

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