Prepare Your Royalty Owner Support for Tax Season

Prepare Your Royalty Owner Support for Tax Season

The buildup to tax season can be a hectic and stressful time for operators. Every year, operators spend weeks processing and mailing 1099s and state tax documents to mineral rights owners, while handling related inquiries from owners (which could increase by up to three times normal volumes).

Unfortunately, many operators are dealing with reduced staff. Yet, their owner counts remain the same, leading many companies to evaluate how they can better use their resources moving into busy season.

How can call center support help you this tax season? Outsourcing royalty owner phone support is a highly effective solution to meet these seasonal demands, because it takes the burden of answering owner phone calls off your team so they can focus on tax prep.

Four tips for getting the most out of your call center support partnership

 

If your company is considering adding call center support during tax season, below are four ways to ensure you and your owners are getting what they need from the partnership.

  1. Plan ahead
    It is important to be able to set up your call services before your heavy call traffic comes in. Always know how long it takes for call agents to get set up and ready to take owner calls.
  2. Anticipate and prepare
    Tax season brings both common and surprising inquiries from owners. Preparing you agents with the right information on how to handle common inquiries ahead of time will provide a better experience for your owners because they get their issue or inquiry resolved faster. Call center agents use scripts to manage their conversations. Your answering services should be able to provide guidance on which scripts are most effective for different situations. They should also be able to customize scripts based on your company’s specific needs.
  3. Utilize proven industry experts
    The industry has unique accounting practices. You want to make sure your call center agents can answer owner questions. Enverus call support agents are experienced land and accounting professionals, many who have decades of experience in oil and gas accounting practices.Industry experience means more issues will be resolved during the first call. The Enverus team resolves 85% of its calls on the first inquiry. If an agent is unable to resolve the majority of inquiries and must escalate them, it defeats the purpose of outsourcing your support to free up you team’s time.
  4. Be clear and transparent
    Once you your call support is set up, make sure you make it easy for owners to find the call center number, should they need help. This means placing the number visibly and easy to find on your website, social media channels and owner communications.

Enverus Call Center for royalty owner support

 

Enverus is the only company that provides a complete owner relations platform, call center support and print and mail service, focused solely on the oil and gas sector. Our experienced team understands the nuances and challenges associated with delivering data to all stakeholders within the oil and gas ecosystem. The breadth of our services ensures owners receive world-class support and operators can focus on year-end activities that are more valuable — a win for your owners and staff. We can also help ensure your support remains uninterrupted.

The results

 

  • Strengthened owner relationships.
  • Reduced costs.
  • Operator employees better able to focus on higher value operational activities.

Provide your owners with expert oil and gas support

 

With tax season rapidly approaching, now is a great time to discuss your phone support needs. To learn more about how our call center services can provide your team with seasonal tax support, contact us today at [email protected] or call 1-800-282-4245 to get started.

 

Working From Home For the Holidays – Tips for Risk Analysts

Working From Home For the Holidays – Tips for Risk Analysts

As most risk analysts know, it’s difficult to truly observe a local holiday at home when your company does international trade deals with countries all over the world.

It’s scarcely any different for those of us who work in the business of distributing, collecting, or analyzing market data. The imports, exports, and pipeline flows you need to analyze don’t stop coming in because it’s a holiday. And neither does the data that Enverus delivers.

This fact of the business was all too real for some of us over the past Thanksgiving holiday. The Friday after Thanksgiving may seem to be a sacred holiday to us in the United States, but the rest of the world is still open for business.  As my American colleagues and I struggled through Teams meetings on the Monday morning after a long weekend, one admitted he got pulled back in to his work-from-home office due to the non-stop and global nature of our business.

This year, most of us will be staying home for the holidays. And for some of us, this means working from home for the holidays, probably for the first time ever. Striking a work-life balance in 2020 has been a delicate tightrope walk, especially for the members of our workforce who also happen to be raising families.

How can energy analysts and traders strike the right balance – especially during the busy end-of-year season when family time matters most?

    1. Make the most of automation – cut down on process

      When it comes to forward curves risk management, it’s pretty simple: if your forward curves aren’t automated, you’re doing it wrong. Maybe you’re manually managing dozens of individual data integration points, or using multiple Excel spreadsheets with cross-workbook references to generate curves. Ask yourself, why? Your time is precious, and there’s a faster way.

      We recently presented a public demo of our CurveBuilder technology, which shows how quickly anyone on the trade floor can create a new and complex curve. Our team also showed how forward curve formulas can be quickly updated and edited between traders and analysts. You can watch the full presentation here.

    2. Get holiday calendars in line (and automated)

      In commodity markets, missing a calendar roll can cost analysts and traders big. It’s no small task to maintain and manage the various market calendars that are ever changing, rolling and taking bank holidays.

      Enverus Calendar Manager changes that and takes away all the stress of aligning calendars in order to create accurate forward curve analysis. Watch our demo and skip to 19:30 to get straight to CurveBuilder calendar feature that literally makes our customers cheer!

    3. Save time on end-of-year audits – track every change

      Risk managers and traders know all about how important it is to get thorough audits done in a timely matter. For the risk managers who are tasked with identifying every possible market risk and must maintain a mitigation strategy that is constantly updated and provided to executive teams, CurveBuilder’s audit trails are a business necessity.

      With CurveBuilder, risk analysts and traders are beginning to see how much easier forward curve risk management can be. The tool is easy to use; and users find the sophistication of simplicity when using CurveBuilder to assemble forward curves.

      Bringing an enterprise-wide solution to your trade shop – and one that helps everyone in your organization thrive, even while working from home – can take months to consider and approve internally. To get a more digestible idea of what’s possible with CurveBuilder, try signing up for our proof of concept.

 

Lock It Down

Lock It Down

With the recent surge in COVID-19 infections across much of the developed world, policymakers have started to re-introduce lockdown measures to control the spread. These efforts often restrict the movement of people in public spaces, reducing close contact to one another. France is currently under a national lockdown where people are only permitted to go to work, buy essential goods like groceries or seek medical help; restaurants and bars remain closed. The U.S. has not implemented a national lockdown but many state governments, including California, Oregon, Washington and Michigan, have shut down indoor dining among other measures. The implications of lockdowns on oil demand are clear: if sustained and widespread, fewer people will be driving and therefore consuming less gasoline and diesel.

Figure 1 shows daily COVID-19 infections rates along with residential mobility in OECD and non-OECD countries. Residential mobility is one of Google’s six mobility indicators but unlike the other five, which show changes in the number of visits to parks, transit stations, retail outlets, etc. relative to pre-pandemic levels, this indicator shows how time spent at home has changed. Since the start of October, COVID-19 infections increased by nearly 300,000 cases per day in OECD countries; governments responded by gradually introducing restrictions. With greater lockdowns, residential mobility has increased as people stay home. Figure 2 compares the U.S. to OECD European countries. The U.S. is in a third wave of COVID-19 infections and residential mobility is beginning to trend upwards as governors try to curb the spread of infections in their states by imposing lockdown measures. We will be monitoring Infection rates and containment measures worldwide in coming weeks.

FIGURE 1 | COVID-19 Infections and Mobility in OECD and Non-OECD Countries

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

FIGURE 2 | COVID-19 Infections and Mobility in OECD Europe and US

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

RS Energy Group Disclosure Statement:

© Copyright 2020 RS Energy Group Canada, Inc. (RSEG). All rights reserved.

All trademarks, service marks and logos used in this document are proprietary to RSEG. This document should not be copied, distributed or reproduced, in whole or in part. The material presented is provided for information purposes only and is not to be used or considered as a recommendation to buy, hold or sell any securities or other financial instruments. Information contained herein has been compiled by RSEG and prepared from various public and industry sources that we believe to be reliable, but no representation or warranty, expressed or implied is made by RSEG, its affiliates or any other person as to the accuracy or completeness of the information. Such information is provided with the expectation that it will be viewed as part of a mosaic of analysis and should not be relied upon on a stand-alone basis. Any opinions expressed herein reflect the judgment of RSEG as of the date of this document and are subject to change at any time as new or additional data and information is received and analyzed. RSEG undertakes no duty to update this information, or to provide supplemental information to anyone viewing this material.  To the full extent provided by law, neither RSEG nor any of its affiliates, nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein. The recipient assumes all risks and liability with regard to any use or application of the data included herein.

Caution Regarding Forward-Looking Statements:

This public communication may contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements are based on our current expectations about future events or future financial performance. In this context, forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target” or other words that convey uncertainty of future events or outcomes.

These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. When evaluating the information included in this communication, you are cautioned not to place undue reliance on these forward-looking statements, which reflect our judgment only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Note to UK Persons:

RSEG is not an authorised person as defined in the UK’s Financial Services and Markets Act 2000 (“FSMA”) and the content of this report has not been approved by such an authorised person.  You will accordingly not be able to rely upon most of the rules made under FSMA for the protection of clients of financial services businesses, and you will not have the benefit of the UK’s Financial Services Compensation Scheme. This document is only directed at (a) persons who have professional experience in matters relating to investments (being ‘investment professionals’ within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”)), and (b) High net worth companies, trusts etc of a type described in Article 49(2) of the FPO (all such persons being “relevant persons”).  RSEG’s services are available only to relevant persons and will be engaged in only with relevant persons. This report must not be acted or relied upon by persons who are not relevant persons.  Persons of a type described in Article 49(2) of the FPO comprise (a) any body corporate which has, or which is a member of the same group as an undertaking which has, a called up share capital or net assets of not less than ( i ) in the case of a body corporate which has more than 20 members or is a subsidiary undertaking of an undertaking which has more than 20 members, £500,000 and (ii) in any other case, £5 million, (b) any unincorporated association or partnership which has net assets of not less than £5 million, (c) the trustee of a high value trust within the meaning of Article 49(6) of the FPO and (d) any person (‘A’) whilst acting in the capacity of director, officer or employee of a person (‘B’) falling within any of (a), (b) or (c) above where A’s responsibilities, when acting in that capacity, involve him in B’s engaging in investment activity.

Ranking the Rock

Ranking the Rock

One tool Enverus uses to evaluate and analyze different regions of a play is generating distinct geographical regions. Enverus uses a 2D map clustering algorithm to create geologically similar regions that are ranked based on rock characteristics. We then look at other factors like well activity, productivity and cost structure to assign breakevens to each region and to estimate the competitiveness of future drilling locations across a play.

In the Haynesville Shale in Texas and Louisiana, the geological factors with the largest influence on well productivity include porosity, depth and thickness (North America Basin Trends). By clustering the Haynesville play on these parameters, we obtained seven geologically distinct regions (Figure 1) and deepened our understanding of the quality of remaining inventory. These ranked clusters can help assess which areas currently hold the most upside potential and when lower-tier acreage comes into the money with improving prices. See our full analysis in our recent Haynesville Play Fundamentals report.

FIGURE 1 | Geologically-Derived Haynesville Clusters

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

 

RS Energy Group Disclosure Statement:

© Copyright 2020 RS Energy Group Canada, Inc. (RSEG). All rights reserved.

All trademarks, service marks and logos used in this document are proprietary to RSEG. This document should not be copied, distributed or reproduced, in whole or in part. The material presented is provided for information purposes only and is not to be used or considered as a recommendation to buy, hold or sell any securities or other financial instruments. Information contained herein has been compiled by RSEG and prepared from various public and industry sources that we believe to be reliable, but no representation or warranty, expressed or implied is made by RSEG, its affiliates or any other person as to the accuracy or completeness of the information. Such information is provided with the expectation that it will be viewed as part of a mosaic of analysis and should not be relied upon on a stand-alone basis. Any opinions expressed herein reflect the judgment of RSEG as of the date of this document and are subject to change at any time as new or additional data and information is received and analyzed. RSEG undertakes no duty to update this information, or to provide supplemental information to anyone viewing this material.  To the full extent provided by law, neither RSEG nor any of its affiliates, nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein. The recipient assumes all risks and liability with regard to any use or application of the data included herein.

Caution Regarding Forward-Looking Statements:

This public communication may contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements are based on our current expectations about future events or future financial performance. In this context, forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target” or other words that convey uncertainty of future events or outcomes.

These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. When evaluating the information included in this communication, you are cautioned not to place undue reliance on these forward-looking statements, which reflect our judgment only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Note to UK Persons:

RSEG is not an authorised person as defined in the UK’s Financial Services and Markets Act 2000 (“FSMA”) and the content of this report has not been approved by such an authorised person.  You will accordingly not be able to rely upon most of the rules made under FSMA for the protection of clients of financial services businesses, and you will not have the benefit of the UK’s Financial Services Compensation Scheme. This document is only directed at (a) persons who have professional experience in matters relating to investments (being ‘investment professionals’ within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”)), and (b) High net worth companies, trusts etc of a type described in Article 49(2) of the FPO (all such persons being “relevant persons”).  RSEG’s services are available only to relevant persons and will be engaged in only with relevant persons. This report must not be acted or relied upon by persons who are not relevant persons.  Persons of a type described in Article 49(2) of the FPO comprise (a) any body corporate which has, or which is a member of the same group as an undertaking which has, a called up share capital or net assets of not less than ( i ) in the case of a body corporate which has more than 20 members or is a subsidiary undertaking of an undertaking which has more than 20 members, £500,000 and (ii) in any other case, £5 million, (b) any unincorporated association or partnership which has net assets of not less than £5 million, (c) the trustee of a high value trust within the meaning of Article 49(6) of the FPO and (d) any person (‘A’) whilst acting in the capacity of director, officer or employee of a person (‘B’) falling within any of (a), (b) or (c) above where A’s responsibilities, when acting in that capacity, involve him in B’s engaging in investment activity.

The Houston Chronicle Names Enverus Winner of Houston Top Workplaces 2020 Award

The Houston Chronicle Names Enverus Winner of Houston Top Workplaces 2020 Award

Austin, Texas (November 18, 2020) — Enverus, the leading energy SaaS and data analytics company, has been awarded a Top Workplaces 2020 honor by the Houston Chronicle. The list is based on feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The anonymous survey uniquely measures 15 drivers of engaged cultures that are critical to the success of any organization: including alignment, execution, and connection, just to name a few.

“In times of great change, it is more important than ever to maintain a connection among employees,” said Eric Rubino, Energage CEO. “When you give your employees a voice, you come together to navigate challenges and shape your path forward based on real-time insights into what works best for your organization. The Top Workplaces program can be that positive outcome your company can rally around in the coming months to celebrate leadership and the importance of maintaining an employee-focused culture, even during challenging times.”

“Our company’s purpose is to fuel the global quality of life and that begins with the world’s most important energy decisions,” said Jeff Hughes, CEO of Enverus. “As the COVID-19 pandemic impacted the world, it impacted energy too, and with Houston, the U.S. energy capital, squarely in the middle of it all. We committed this year to focusing on our employees so they could in turn focus on our customers.”

“As the largest SaaS energy company, Enverus sits in unique position, with vast amounts of data, incredible analytics and software solutions, to create amazing insights that touch every part of the energy ecosystem. But central to all that are our people. Across the company, we have nearly 1,500 employees, all of which bring their own experience and intellectual capital to the table to create amazing capabilities that our customers get to leverage. I couldn’t be prouder of our team,” said Hughes.

During the last four years, Enverus has grown tremendously through product innovation, market expansion and acquisitions. In February of this year, it acquired RS Energy Group, combining the companies’ complementary strengths to accelerate technology, machine learning and advanced analytics across the energy market. Enverus is now comprised of three business units all of which are highly complementary to one another and together create value for customers that could never be achieved otherwise.

About Enverus
Enverus is the leading energy SaaS company delivering highly-technical insights and predictive/prescriptive analytics that empower customers to make decisions that increase profit. Enverus’ innovative technologies drive production and investment strategies, enable best practices for energy and commodity trading and risk management, and reduce costs through automated processes across critical business functions. Enverus is a strategic partner to more than 6,000 customers in 50 countries. Enverus is a portfolio company of Genstar Capital. Learn more at Enverus.com.

About Energage
Energage offers a fully unified SaaS platform, plus support and professional services, to help organizations recruit and retain the right talent. As a B-Corporation founding member, Energage has committed itself to the purpose of making the world a better place to work together. Based on 14 years of culture research, the engine behind 51 Top Workplaces programs across the country, and data gathered from over 20 million employees at 60,000 organizations, Energage has isolated the 15 drivers of engaged cultures that are critical to the success of any business, and developed the tools and expertise to help organizations measure, shape and showcase their unique culture to achieve a sustainable competitive advantage. For more information, please visit energage.com. Follow us on Twitter @teamenergage and Facebook and LinkedIn @energage.

 

Enverus’ Activity Analytics Provides Visibility Into Milestone, Lifecycle Moments

Enverus’ Activity Analytics Provides Visibility Into Milestone, Lifecycle Moments

Austin, Texas (November 17, 2020) — Enverus, the leading oil and gas SaaS and data analytics company, has released its latest FundamentalEdge report which draws heavily from its new Activity Analytics suite.

Leveraging multiple datasets and information sources, Activity Analytics provides near real-time monitoring of operator movements in the U.S., such as when a pad is cleared, when rigs arrive and depart and when frac crews begin well completions.

“Why wait for quarterly earnings disclosures when you can monitor an operator’s movements in near real-time,” asks Rob McBride, senior director of Strategic Analytics at Enverus. “Many industries, but particularly oil and gas, are about who is doing what, when, where and why. But lockdowns and the way the industry has historically done business has been flipped on its head due to the COVID-19 pandemic. However, that cloud of uncertainty has also ushered in new opportunities.”

“There’s very little guessing with Activity Analytics, which provides visibility into key milestones in the lifecycle of an oil and gas well, which should benefit both operators and investors alike. This, coupled with our breakthrough business automation tools, is helping the oil and gas industry not only survive, but thrive. This is what transparency means and the definition of connecting an industry through integrated data, analytics and smart network technologies,” McBride said.

Today’s FundamentalEdge report release follows a string of announcements and product offerings made by Enverus aimed at helping all segments of the industry manage a challenging energy market wrought with price drops and demand destruction tied to the COVID-19 pandemic. Members of the media can download a preview of the full report or contact Jon Haubert to schedule an interview with one of Enverus’ expert analysts.

Key takeaways from the report:

  • Both rig and frac crew activity fell sharply in the first half of 2020 as the ill-timed Saudi-Russia price war coincided with the rapid spread of COVID-19 around the globe. Fortunately, the Saudi-Russia price war was short-lived, and the OPEC+ group ultimately approved deep production cuts, but the global pandemic and resulting lockdowns cut deeply into global petroleum demand, driving steep reductions in active rig counts. Even though the lockdowns were eased in the second quarter and some semblance of normal economic activity has since returned, the recovery witnessed in the U.S. oil patch has been mixed so far.
  • The U.S. rig count has recovered only modestly since it bottomed out in July. Meanwhile, frac crew activity has picked up strongly in certain parts of the country. The main driver of the increase in frac crew activity (which bottomed out in May) has been the Permian. Competing with some of the best acreage in the country in terms of economics, operators in the region have been able to restart some activity as prices have climbed back to near $40/bbl.
  • To no surprise, the main areas of the Permian seeing a comeback are the Midland and the Delaware basins, particularly in the North Gas and Midland Central sub-plays.
  • Frac crew activity within the Delaware has seen volatility within the last year. Historically, the majority of the frac crew activity was seen in the North Gas window. However, in the back half of 2019 an uptick was seen in the North Oil window, and it has consistently competed with the North Gas window as the leader for frac crew activity since. In September, for the first time since April, the North Gas window took over again as the area with the majority of the frac crew activity in the Delaware.

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

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About Enverus
Enverus is the leading energy SaaS company delivering highly-technical insights and predictive/prescriptive analytics that empower customers to make decisions that increase profit. Enverus’ innovative technologies drive production and investment strategies, enable best practices for energy and commodity trading and risk management, and reduce costs through automated processes across critical business functions. Enverus is a strategic partner to more than 6,000 customers in 50 countries. Enverus is a portfolio company of Genstar Capital. Learn more at Enverus.com.

Oil & Gas Consulting: Outsource Strategic Planning to Rake in Cost Savings

Oil & Gas Consulting: Outsource Strategic Planning to Rake in Cost Savings

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

As a company grows, so does its process, administrative and technology needs. Operations become more complex, and the company must adapt to remain efficient in this new environment. At some point, oil and gas companies must examine and decide how they should evolve to meet the company’s growth, and if it makes more sense to outsource work to a consulting firm or do this work in-house.

First, let’s distinguish the relationship between consulting and outsourcing. Consulting, in this case for strategic management, is “outsourcing” the work of designing a new strategy that meets your company’s future needs and vision to an outside firm.

Benefits of hiring a consultant

 

For companies pinched by shrinking margins, the benefits of outsourcing strategic planning are compelling:

  • Realize results faster — Outsourcing specialized work to experts means faster completion on projects, such as technology implementation or process improvement, so operators can experience the benefits of the new processes and solutions faster.
  • Improved focus and resource availability — Outsourcing allows oil and gas companies to focus on solving core business problems or gain more time to work on operations that directly influence the company. This is especially critical for smaller operators or operators that experience a reduction in staff — 18% of small businesses turn to outsourcing as a way to increase available expertise and assistance.
  • Cost savings — Hiring consultants is generally more affordable than hiring a full-time employee because you avoid the added cost of taxes and benefits. Also, due to their expertise, they can identify the processes, strategy and systems needed, and implement the strategy faster and more efficiently. This efficiency potentially translates into cost savings for the company. According to a recent Outsourcing Institute Survey, companies reported a 9% reduction in costs through outsourcing.
  • Knowledge of best practices — Consultants bring valuable experience from a variety of different companies, which can offer creative, more diverse ideas than you might get within your own organization. As a new “set of eyes,” they also bring objectivity to the process.

What to consider when hiring a consultant

 

After looking at these benefits, hiring a consultant to manage some of your business processes seems like a no-brainer. But there are a few things to consider when choosing a strategic partner.

  • What is the consulting company’s track record? How long has it been around?
    Make sure the firm has a positive track record. You can investigate this by contacting other reference customers to learn about their experience with the company.
  • Does the company have industry specific experience and knowledge of the oil and gas industry?
    There are several processes and regulations unique to oil and gas. For example, supplier management, increases in invoice volumes, managing massive numbers of contracts and making price changes are just some of the many activities finance and supply chain teams struggle to manage. You want to make sure the vendor you choose is well-versed in these nuances.
  • Does the firm have the right network of business relationships to bring together multiple clients to collectively solve a problem?
    Supply chain operations between upstream and midstream companies and their service providers is complex. At times, so are the business relationships. Yet these companies must be cooperative to bring the end product to market. Hiring consultants that have strong business relationships across the different organizations in these different segments ensures you will meet your goals faster and the process will be much smoother.
  • Does the consultant’s experience align with your current and future technology strategy?
    Make sure the firm understands your future vision and can make the right recommendations for your current and future business environment. They should have extensive knowledge in best practices to help you meet your goals. Also, make sure they can track the project’s progress and provide success metrics to demonstrate the impact of their work on your organization.
  • Is their service pricing structure flexible?
    If there is one thing that remains the same, it’s that the oil and gas market constantly changes. With such market volatility, companies need to be able to quickly shift strategy. Make sure your agreement with your consulting firm allows the flexibility to adjust to market shifts.

What are Enverus Professional Services?

 

Enverus Professional Services are consulting services provided by the internal Business Automation team of technology and process experts, and are designed to optimize customer usage and maximize ROI of their OpenInvoice solutions. Services include training, technology implementation and optimization, systems integration, data management and strategic analysis of a customer’s current technology stack and processes.

The team offers benefits to OpenInvoice users that other companies cannot offer including:

  • Specific technology and expertise — Our knowledge and experience of process and solutions best practices allow us to recommend and deploy workflows and solutions that fit each customer’s individual needs faster, with less disruption. Also, unlike other vendors, our team members have strong industry relationships with operators, midstream and service providers in the Enverus network, which accelerates the onboarding and implementation of new technologies within organizations.
  • Maximize the value of technology investments — Enverus expertise helps customers realize their goals faster, ensuring they get the most value from their technology. For example, the team can assist an operator increase its PriceBook coverage and compliance to improve spend management.
  • Quantifiable Results — All OpenInvoice activity and data are tracked for each client, so customers can monitor the progress of their initiative and measure the results of the project overtime.
  •  Flexible, cost-effective subscription — Customers subscribe by hours and can choose the services they want to focus on. They have flexibility to pivot the services as goals, priorities and resources change.
  • Assistance to navigate market transitions — Enverus experts have industry specific knowledge to guide your company through market transitions such as M&A and bankruptcy.

Watch this brief video to learn how Enverus Professional Services assisted Discovery Natural Resources in implementing PriceBook compliance and touchless invoicing automation.

 

 

If you currently use OpenInvoice solutions and want to increase the value you receive from your investments, or are looking to digitalize your AP process, book a free business review with our services team today be emailing [email protected] or call 1-800-282-4245.

Oil Demand at 2024

Oil Demand at 2024

It is Nov. 13, 2024, and for the first time in five years, global oil demand is set to average just over 100 MMbbl/d annually. Oil consumption trod a long and uneven path to get here. While the COVID-19 pandemic accelerated the energy “transition” in the OECD, oil is experiencing a surprising renaissance in non-OECD markets. These contrasting narratives stem from disparities in per capita incomes, demographics and environmental policies.

In the OECD, the pandemic resulted in some people permanently working from home, diminished face-to-face meetings and heightened concerns about climate change – all drags on oil consumption. While the pandemic temporarily stalled non-OECD income growth, fossil fuels paradoxically enjoyed renewed tailwinds here because of more costly, difficult to implement or simply unavailable alternatives.

A stark contrast in demographics further separates the non-OECD and OECD in terms of the momentum behind economic growth and oil demand (Figure 1). Aging populations in North America and Europe mean a more sedate pace than that associated with more youthful populations in Africa and Southeast Asia. Additional nuances abound. In the case of personal road transport, already-high per capita incomes in advanced economies combined with heightened environmental concerns are fueling sales of premium-priced electric vehicles like the Tesla Model 3. In emerging markets, cost-conscious car owners wanting to cruise around town without having to worry about finding the next charging station are choosing the Tata Tiago, an affordable (~$7,000) three-cylinder compact car that sips gasoline at a rate of roughly 24 km/l.

The tailwinds on non-OECD oil demand don’t stop here. Investors in productive capacity in emerging markets remain unmotivated to adopt costlier sustainable technologies, especially having just survived the economic challenges posed by the COVID-19 pandemic. Investors in the advanced economies are making ESG more of a priority.

Ultimately, while the world is back to the pre-pandemic level of oil demand, this accomplishment likely will be fleeting as the economics and availability of alternative technologies improve, enabling the developing world to get on the off-oil bandwagon.

So, in the end, 100 MMbbl/d of demand certainly isn’t what it used to be.

FIGURE 1 | Demographic Divide

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

RS Energy Group Disclosure Statement:

© Copyright 2020 RS Energy Group Canada, Inc. (RSEG). All rights reserved.

All trademarks, service marks and logos used in this document are proprietary to RSEG. This document should not be copied, distributed or reproduced, in whole or in part. The material presented is provided for information purposes only and is not to be used or considered as a recommendation to buy, hold or sell any securities or other financial instruments. Information contained herein has been compiled by RSEG and prepared from various public and industry sources that we believe to be reliable, but no representation or warranty, expressed or implied is made by RSEG, its affiliates or any other person as to the accuracy or completeness of the information. Such information is provided with the expectation that it will be viewed as part of a mosaic of analysis and should not be relied upon on a stand-alone basis. Any opinions expressed herein reflect the judgment of RSEG as of the date of this document and are subject to change at any time as new or additional data and information is received and analyzed. RSEG undertakes no duty to update this information, or to provide supplemental information to anyone viewing this material.  To the full extent provided by law, neither RSEG nor any of its affiliates, nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein. The recipient assumes all risks and liability with regard to any use or application of the data included herein.

Caution Regarding Forward-Looking Statements:

This public communication may contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements are based on our current expectations about future events or future financial performance. In this context, forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target” or other words that convey uncertainty of future events or outcomes.

These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. When evaluating the information included in this communication, you are cautioned not to place undue reliance on these forward-looking statements, which reflect our judgment only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Note to UK Persons:

RSEG is not an authorised person as defined in the UK’s Financial Services and Markets Act 2000 (“FSMA”) and the content of this report has not been approved by such an authorised person.  You will accordingly not be able to rely upon most of the rules made under FSMA for the protection of clients of financial services businesses, and you will not have the benefit of the UK’s Financial Services Compensation Scheme. This document is only directed at (a) persons who have professional experience in matters relating to investments (being ‘investment professionals’ within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”)), and (b) High net worth companies, trusts etc of a type described in Article 49(2) of the FPO (all such persons being “relevant persons”).  RSEG’s services are available only to relevant persons and will be engaged in only with relevant persons. This report must not be acted or relied upon by persons who are not relevant persons.  Persons of a type described in Article 49(2) of the FPO comprise (a) any body corporate which has, or which is a member of the same group as an undertaking which has, a called up share capital or net assets of not less than ( i ) in the case of a body corporate which has more than 20 members or is a subsidiary undertaking of an undertaking which has more than 20 members, £500,000 and (ii) in any other case, £5 million, (b) any unincorporated association or partnership which has net assets of not less than £5 million, (c) the trustee of a high value trust within the meaning of Article 49(6) of the FPO and (d) any person (‘A’) whilst acting in the capacity of director, officer or employee of a person (‘B’) falling within any of (a), (b) or (c) above where A’s responsibilities, when acting in that capacity, involve him in B’s engaging in investment activity.

Learn What It Means to Democratize Forward Curve Generation

Learn What It Means to Democratize Forward Curve Generation

Does your trade floor have a separation of powers?

Our Enverus team members focused on trading and risk always attend the Energy Trading Risk Summit to soak in the thinking and logic of risk analysts. It’s inspiring and fascinating to see the lengths risk managers will go to protect data integrity and implement mitigation strategies.

Now that we know market events like negative WTI prices are within the realm of possibility, pricing data integrity and a single source of truth in forward curve data management have become more integral than ever. Risk managers are tasked with identifying every risk and must maintain a mitigation strategy that is constantly updated and provided to executive teams.

With risk management as a priority during an ongoing hit to global oil demand and a global pandemic, we’ve seen energy traders emerging with a demand for automation and risk resilience tools to execute on complex trade ideas.

Risk managers’ roles go hand in hand with the implementation of new technology in the trade floor. As these professionals strive to implement the risk management culture throughout the entire company, they are fostering a culture of compliance.

I personally loved hearing the way these managers strive to see risk as an enabler, as a way of improving and bettering the company’s practices and values.

So, how do risk analysts take on the massive task of identifying every risk? And how can risk analysts managing forward curves for commodity trading firms implement appropriate checks and balances within the trade floor?

Enter: CurveBuilder, a web-based forward curve management system that is accessible from any remote working location.

Here’s a quick review of what we believe it means to democratize forward curve generation at Enverus:

  • No technical coding skills required to build complex forward curves
  • Complete audit trail transparency – track every change in the history of your curves
  • All holiday calendars are equal – line up market holidays perfectly across geographies
  • Traders and risk analysts alike can quickly create forward curves on the fly

We recently released the first-ever public demo of CurveBuilder. Please reach out to our T&R specialists to receive a copy of the video demo and learn more about our CurveBuilder solution.

Qualia Integrates With Integrity Title Corporation of Texas

Qualia Integrates With Integrity Title Corporation of Texas

SAN FRANCISCO (Nov. 12, 2020)Qualia, the leading digital real estate closing platform, today announced a suite of integrations with Integrity Title Corporation of Texas, the largest title production center in Texas, at the fall session of its Future of Real Estate Series (FORES). This integration enables title evidence data from Integrity Title to automatically populate a title agent’s file on Qualia’s platform. This eliminates the need to re-enter data from one system to another, allowing agents to be more efficient, and less prone to data-entry errors. 

“With real estate purchases up nearly 20 percent across Texas last quarter, and refinances at an all-time high, title and escrow agents are looking for ways to be more efficient so that they may keep up with demand, and exceed their clients’ expectations,” said Qualia CEO Nate Baker. “With this integration, we’ve created more ways partners can directly communicate with one another, making day to day work much more efficient across the entire closing process for title agents. Connected systems like this will fundamentally change real estate, and we’re excited to be paving the way in Texas.” 

Integrity Title is the largest provider of title evidence in the state of Texas, and owns and operates title plants in 92 counties in Texas, serving 95 percent of the population where title premiums are produced. New and existing Qualia users can continue to utilize Integrity Title as their production center, but will now benefit from greater speed and accuracy.

“The title industry is increasingly looking for ways to use technology to innovate without compromising on service,” said Integrity Title CEO Scott Luna. “This integration allows for Integrity Title’s search product to be seamlessly delivered to Qualia agent clients in a consistent format without the need for manual data entry on the part of the agent. This enables agents to increase efficiency and productivity, while also assuring quality.” 

For more information, please visit https://www.qualia.com/integrations/.

About Qualia
Qualia is a digital real estate closing technology company that provides the infrastructure to streamline the home closing experience. The company offers a suite of products that brings together homebuyers and sellers, lenders, title & escrow agents and real estate agents onto one secure shared platform. Qualia was founded in 2015 by Forbes 30 Under 30 Award recipients Nate Baker, Joel Gottsegen and Lucas Hansen. Since launching, the company has been named an ALTA Elite Provider, grown to over 300250 employees, and recognized with the Great Place to Work Certification. The company is a leader in industry security and was the first technology company to join the Coalition to Stop Real Estate Wire Fraud. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX. For more information on Qualia, visit www.qualia.com.

About Integrity Title
Integrity Title, based in Houston, Texas, was founded in 2002 and is the largest title plant provider in Texas and New Mexico operating in 92 and 15 title plants respectively.  In addition to title plant access, the licensed title agency also provides title evidence services throughout these counties which represent 95% of the population and 94% of title premium generation in Texas and 74% of the population and 77% of title premiums generation in New Mexico. Integrity Title was acquired by Enverus in October 2020.

Southern Delaware – The Children Need Space

Southern Delaware – The Children Need Space

Well results in the southern Delaware Basin degraded severely in recent years. Although early parent well delineation presented enticing recoveries, as operators tightened well spacing and introduced child well drilling, meaning a second, third or even fourth well in close proximity to the original one, oil recoveries and economic returns suffered. Compared with the northern Delaware, degradation with tighter development is more severe in the southern region due to geologic differences – the highly faulted and fractured nature of the subsurface results in more intense well interference.

Figure 1 demonstrates the magnitude of this interference. Enverus identified a tightly spaced infill development where three wells were put on production at the same time (co-completed) in the Wolfcamp A, a zone commonly targeted by E&Ps, about eight months after an existing well in the section was placed on production. In this case, well interference spanned the entire development. The immediate child well is forecasted to recover 50% of the legacy producer, and the second and third wells are on track to recover 57% and 75%, respectively.

How can operators combat the high likelihood of well interference? The solution requires sacrificing inventory. Enverus analyzed a group of 11 Wolfcamp A pilots to determine that infill developments must be spaced ~1,760 feet away from legacy producers to avoid child well degradation and maximize project-level net present value. The southern Delaware undoubtedly holds challenges, but when child well drilling is avoided and wider spacing is prioritized, value can be generated for both operators and investors.

FIGURE 1 | Recoveries and Economics of a Tight Infill Development in Southern Delaware

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

 

RS Energy Group Disclosure Statement:

© Copyright 2020 RS Energy Group Canada, Inc. (RSEG). All rights reserved.

All trademarks, service marks and logos used in this document are proprietary to RSEG. This document should not be copied, distributed or reproduced, in whole or in part. The material presented is provided for information purposes only and is not to be used or considered as a recommendation to buy, hold or sell any securities or other financial instruments. Information contained herein has been compiled by RSEG and prepared from various public and industry sources that we believe to be reliable, but no representation or warranty, expressed or implied is made by RSEG, its affiliates or any other person as to the accuracy or completeness of the information. Such information is provided with the expectation that it will be viewed as part of a mosaic of analysis and should not be relied upon on a stand-alone basis. Any opinions expressed herein reflect the judgment of RSEG as of the date of this document and are subject to change at any time as new or additional data and information is received and analyzed. RSEG undertakes no duty to update this information, or to provide supplemental information to anyone viewing this material.  To the full extent provided by law, neither RSEG nor any of its affiliates, nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein. The recipient assumes all risks and liability with regard to any use or application of the data included herein.

Caution Regarding Forward-Looking Statements:

This public communication may contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements are based on our current expectations about future events or future financial performance. In this context, forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target” or other words that convey uncertainty of future events or outcomes.

These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. When evaluating the information included in this communication, you are cautioned not to place undue reliance on these forward-looking statements, which reflect our judgment only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Note to UK Persons:

RSEG is not an authorised person as defined in the UK’s Financial Services and Markets Act 2000 (“FSMA”) and the content of this report has not been approved by such an authorised person.  You will accordingly not be able to rely upon most of the rules made under FSMA for the protection of clients of financial services businesses, and you will not have the benefit of the UK’s Financial Services Compensation Scheme. This document is only directed at (a) persons who have professional experience in matters relating to investments (being ‘investment professionals’ within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”)), and (b) High net worth companies, trusts etc of a type described in Article 49(2) of the FPO (all such persons being “relevant persons”).  RSEG’s services are available only to relevant persons and will be engaged in only with relevant persons. This report must not be acted or relied upon by persons who are not relevant persons.  Persons of a type described in Article 49(2) of the FPO comprise (a) any body corporate which has, or which is a member of the same group as an undertaking which has, a called up share capital or net assets of not less than ( i ) in the case of a body corporate which has more than 20 members or is a subsidiary undertaking of an undertaking which has more than 20 members, £500,000 and (ii) in any other case, £5 million, (b) any unincorporated association or partnership which has net assets of not less than £5 million, (c) the trustee of a high value trust within the meaning of Article 49(6) of the FPO and (d) any person (‘A’) whilst acting in the capacity of director, officer or employee of a person (‘B’) falling within any of (a), (b) or (c) above where A’s responsibilities, when acting in that capacity, involve him in B’s engaging in investment activity.

Enverus Makes Sense of the Madness to Drive Trading Profits

Enverus Makes Sense of the Madness to Drive Trading Profits

Energy trading risk and market volatility derived from the U.S. presidential election are best managed with verified, accurate news and data management

Enverus is delivering secure, validated and intelligent data solutions to commodity trading companies navigating the complex and dramatic impacts of geopolitics — and the current U.S. election — on energy commodity markets.

Will Americans’ decision for the next president of the United States bring headwinds or tailwinds to energy markets around the world? The trading and risk software tools provided by Enverus help commodity traders not just manage, but capitalize, on the volatility that will follow this week’s U.S. presidential election.

With traders and risk analysts monitoring hundreds to thousands of data points throughout the trade days, Enverus solutions like DataManager take in hundreds of energy market data sources and customer data sources, applying rigorous rules and organizing the data such that it can be properly used by trading organizations to settle their positions and know their risks, acting as a key “fact checker” for commodity trading groups.

There is a lot of talk today about building an “intelligent data enterprise,” which will provide visibility, efficiency and the ability to have the information advantage to become a mega profit producing enterprise. This would enable trading organizations to be nimble, quickly exploit new opportunities and beat the competition, especially in volatile times like elections.

Here are three ways that Enverus can help traders drive profitability:

1. Find value out of every molecule that moves through the supply chain

Commodity trading margins are in decline, the market continues to be unpredictable and increased competition is uncontrollable. Therefore, proprietary intelligence via predictive analytics is beginning to thrive throughout trading organizations.

The more data the better so they can maximize and exploit every opportunity that is laid before them, whether supply chain issues, natural disasters which halt production, refinery outages, energy efficiency/renewables, etc.

MarketView Desktop is easy to use and has a plethora of market data, client proprietary data and Enverus fundamental data which provide the variables for traders to visualize trends and make decisions that yield profits for their organization. Today, we can include predictive analytics in MarketView by visualizing price curves calculated for the customer in other Enverus solutions (more on that in a minute).

2. Control your resources by leveraging the public cloud

Companies collect millions of terabytes of data every day. Building an intelligent foundation to move data out of silos and into intelligent usable formats leveraging cloud native technology is a must.

Establishing a data framework with data governance, flexibility, scalability and security is a requirement for every trading organization. Companies must continually innovate or have a technology innovation partner to ensure they stay on the cutting edge of visualizing and executing on trade opportunities.

Enverus’ new web-based CurveBuilder allows traders to make split-second decisions on trade execution.   This tool is easy to use and displays forward curve data (a form of predictive analytics focused on price) in a visually appealing framework.

3. Don’t get left behind the energy transition or energy transformation

Companies and governments around the globe are challenged to deliver more energy while reducing emissions and increasing sustainability. Investing in environmentally friendly products like hydrogen, biofuels, etc. has been extremely fashionable to support battery storage, electric vehicles, wind farms, etc.  As demand surges for clean fuels and investors like low-carbon projects, commodity traders will adapt to new market changes, much like governments, politicians and big oil companies.

Enverus offers comprehensive renewable power market analytics tools, and is quickly moving ahead with expanding its product offering to include GHG and ESG analytics for traditional oil and gas companies and investors that are taking the plunge into the new world order of renewable-focused energy. Investors and traders can also continue to track opportunities in oil and gas markets with sophisticated analytics data for production forecasting and pipeline flow monitoring.

At the end of the day, traders know that energy commodities have the largest impact to everyday human lives. Whether you are driving a car, running electricity in your house or eating dinner with your family, the world will need a healthy mix of renewable and non-renewable resources to support the global supply chain of human activities.

What is Joint Interest Billing (JIB) in oil and gas accounting?

What is Joint Interest Billing (JIB) in oil and gas accounting?

Joint Interest Billing, or JIB, is form of accounting specific to the oil and gas industry. Because the industry can be high risk, high reward, it’s common for different parties to invest in a single drilling project. Shareholders within the joint venture have different responsibilities and privileges. A JIB statement divides the expenses and revenue from a drilling project among the partners, based on the agreement in place.

Operator and Non-Operators

 

There are two main types of players in this arrangement: the operator and the non-operator. These parties enter into a joint operating agreement that outlines the rights and responsibilities of each party. The operators usually have the largest investment in the venture and make the day-to-day decisions related to the site.

The operator performs the drilling of a site, receives the initial profits from the project and manages the upfront expenses. The revenues and expenses are recorded by the operator and then divided out to the non-operator partners in a JIB statement.

Operators process JIBs each month as part of their accounts payable workflow. They also must respond to compliance reviews performed by non-operators.

Non-operators are parties that have a vested interest in the well. A non-operator at one drilling site is often an operator at another site. Non-operators receive a percentage of the profit based on their share of the investment.

Challenges with JIB accounting

 

From the explanation above, you can tell that JIB is a complex process.

via GIPHY

It’s so specific and specialized, operators often have an accountant on staff that specializes in JIB accounting. JIB statements can be several pages long due to the complexity of these arrangements. If an operator must print and mail these JIB statements to all working interest partners, the print and mail costs will quickly add up. Also, there’s a chance these statements could be lost in the mail.

From Paper JIBs to Digital

 

Due to these administrative challenges, most operators and non-operators manage their JIB statements online using JIB management software. This allows both sides of the exchange to optimize the entire JIB workflow to be more efficient, easily scale operations and gain better visibility into cash flow.  EnergyLink, a cloud-based solution by Enverus, helps operators reduce support time by providing owners and partners secure and convenient online access to their ACH electronic deposit, change of address (COA) self-service and monthly oil and gas statements – including revenue check detail, 1099 tax documents and JIBs. With workflow automation, enhanced communication tools and rich reporting capabilities, EnergyLink is the industry standard for JIB exchange and automation.

 

Are you an operator or non-operator looking to optimize your JIB workflow? Join the rest of the industry in using EnergyLink for a more efficient and economical way to process JIBs.

Email us at [email protected] or call us at 1-800-242-4245 to learn how to get started.

 

Impacts of a Biden vs. Trump Victory: What Next for the U.S. Oil & Gas Industry?

Impacts of a Biden vs. Trump Victory: What Next for the U.S. Oil & Gas Industry?

Austin, Texas (November 5, 2020) – Enverus, the leading energy SaaS and data analytics company, is inviting members of the media to attend a live Oil & Gas Council webinar on November 10, 2020 at 9:00 AM CT covering contrasting outlooks on the future of energy in the U.S.

While the political pundits continue to analyze political races across the country, one outcome is clear: the recent U.S. election has driven a wide-ranging discussion around consequences for both the domestic and global energy markets. Some investors will be forced to think twice about where their capital is best placed to accrue value and drive growth over the mid to long-term.

Join industry-leading speakers as they discuss and debate topics around infrastructure plans, leasing and drilling on federal lands, emissions, carbon tax, Environmental Social Governance (ESG), and OPEC.

Confirmed speakers include Bill Marko, Managing Director at Jefferies; Andrew Gillick, Managing Director, Energy Sector Strategist at Enverus; Jen Snyder, Director at Enverus; and Jordan Marye, Managing Partner at Denham Capital.

  • Who: Employees of the oil and gas industry and members of the media.
  • What: Virtual discussion and debate on the future of capital in energy.
  • Where: Online, virtual event.
  • When: November 10, 2020 at 9:00 AM CT.

Register Now

About Enverus
Enverus is the leading energy SaaS company delivering highly-technical insights and predictive/prescriptive analytics that empower customers to make decisions that increase profit. Enverus’ innovative technologies drive production and investment strategies, enable best practices for energy and commodity trading and risk management, and reduce costs through automated processes across critical business functions. Enverus is a strategic partner to more than 6,000 customers in 50 countries. Enverus is a portfolio company of Genstar Capital. Learn more at Enverus.com.

Dipping an Analytical Toe Into the Deep Basin

Dipping an Analytical Toe Into the Deep Basin

The Alberta Deep Basin encompasses stacked hydrocarbon-bearing intervals, allowing many operator to target multiple intervals to boost economics. Unlike other similar plays such as the Montney or Midland Basin, the Deep Basin’s zones are more conventional, meaning they consist of discontinuous shorefaces and winding channels deposited millions of years ago. As a result, the regional extent of reservoir quality rock is variable and requires detailed geological mapping and analysis to identify sweet spots.

Enverus maps multiple intervals within the widely targeted Spirit River Group as well as the more liquids-rich Cardium and Dunvegan. In our most recent iteration of the Deep Basin Geology Map, data density increased 10x to over 20,000  wells, allowing for improved map granularity and  accuracy. The enhanced well control enables us to identify the depositional channels of the Falher Formation in the isopach (a measurement of target’s thickness) in Figure 1. In addition, the increased accuracy in the effective porosity map seen in Figure 2 can be used in combination with other layers help to highlight prospective and favorable regions of the play.

FIGURE 1 | Upper Falher Isopach

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

 

FIGURE 2 | Upper Falher Effective Porosity

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

 

RS Energy Group Disclosure Statement:

© Copyright 2020 RS Energy Group Canada, Inc. (RSEG). All rights reserved.

All trademarks, service marks and logos used in this document are proprietary to RSEG. This document should not be copied, distributed or reproduced, in whole or in part. The material presented is provided for information purposes only and is not to be used or considered as a recommendation to buy, hold or sell any securities or other financial instruments. Information contained herein has been compiled by RSEG and prepared from various public and industry sources that we believe to be reliable, but no representation or warranty, expressed or implied is made by RSEG, its affiliates or any other person as to the accuracy or completeness of the information. Such information is provided with the expectation that it will be viewed as part of a mosaic of analysis and should not be relied upon on a stand-alone basis. Any opinions expressed herein reflect the judgment of RSEG as of the date of this document and are subject to change at any time as new or additional data and information is received and analyzed. RSEG undertakes no duty to update this information, or to provide supplemental information to anyone viewing this material.  To the full extent provided by law, neither RSEG nor any of its affiliates, nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein. The recipient assumes all risks and liability with regard to any use or application of the data included herein.

Caution Regarding Forward-Looking Statements:

This public communication may contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements are based on our current expectations about future events or future financial performance. In this context, forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target” or other words that convey uncertainty of future events or outcomes.

These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. When evaluating the information included in this communication, you are cautioned not to place undue reliance on these forward-looking statements, which reflect our judgment only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Note to UK Persons:

RSEG is not an authorised person as defined in the UK’s Financial Services and Markets Act 2000 (“FSMA”) and the content of this report has not been approved by such an authorised person.  You will accordingly not be able to rely upon most of the rules made under FSMA for the protection of clients of financial services businesses, and you will not have the benefit of the UK’s Financial Services Compensation Scheme. This document is only directed at (a) persons who have professional experience in matters relating to investments (being ‘investment professionals’ within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”)), and (b) High net worth companies, trusts etc of a type described in Article 49(2) of the FPO (all such persons being “relevant persons”).  RSEG’s services are available only to relevant persons and will be engaged in only with relevant persons. This report must not be acted or relied upon by persons who are not relevant persons.  Persons of a type described in Article 49(2) of the FPO comprise (a) any body corporate which has, or which is a member of the same group as an undertaking which has, a called up share capital or net assets of not less than ( i ) in the case of a body corporate which has more than 20 members or is a subsidiary undertaking of an undertaking which has more than 20 members, £500,000 and (ii) in any other case, £5 million, (b) any unincorporated association or partnership which has net assets of not less than £5 million, (c) the trustee of a high value trust within the meaning of Article 49(6) of the FPO and (d) any person (‘A’) whilst acting in the capacity of director, officer or employee of a person (‘B’) falling within any of (a), (b) or (c) above where A’s responsibilities, when acting in that capacity, involve him in B’s engaging in investment activity.

Touchless Invoice Processing for Oil and Gas – Benefits of Doing More with Less

Touchless Invoice Processing for Oil and Gas – Benefits of Doing More with Less

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

Even before the pandemic destroyed demand in oil and gas, margins were shrinking, shareholders demanded proof of returns and there was a resounding cry to “Do More with less” across the energy industry. As oil prices fell to sub-zero levels, lay-offs were prevalent and reduced internal teams were left to shoulder the workload. Fast-forward to today and we are seeing the industry take this rally cry seriously and implement new technology, automation, and processes to successfully do more with less, and reap the benefits.

One opportunity some OpenInvoice users are taking full advantage of is touchless invoicing. Below we discuss this concept in more detail, including the benefits of touchless invoicing and examples of customer results with this automated approval workflow.

Why touchless invoicing?

Despite the perception that oil and gas operations are dominated by expensive equipment and complex services, most invoices in the industry are surprisingly small. In fact, in an analysis of invoices in OpenInvoice over a one-year period, Enverus found that more than 50% of invoices were less than $1,000 and almost 80% were less than $5,000. Yet, the amount of time spent managing invoices is surprisingly similar, regardless of the invoice amount because each invoice has the following four items:

  • Price validation
  • Scope and quantity
  • Cost Object (AFE or cost center validation)
  • General ledger Code (GL code)

Also, part of the approval workflow creates a double touch. In operations, the person responsible for the review and authorization of supplier work is often the same person who approves the ultimate invoice. This requires double effort, not only to review scope, quantity, and pricing related to the work done, but also to ensure the work is coded correctly. This is an unnecessary use of time and resources, particularly when both are in short supply.

 

via GIPHY

What is a Touchless Invoice?

In OpenInvoice, a touchless invoice means when an invoice is submitted, the system automatically validates the coding and auto-approves the invoice based on controls put in place by the customer. Once the invoice is auto-approved it automatically posts to the customer’s ERP system for payment.

Two powerful capabilities make this possible: automatic invoice validation and auto-approvals. Every invoice attribute (scope, quantity and price) is automatically reviewed and validated between the approved ticket and the invoice; if there is a match, the invoice is automatically created. Auto-approvals allow operators to automatically route, code, and approve invoices at or below a specific spend threshold. By reducing the number of touches required by accounts payable and operations, you speed up the entire invoice process.

What if you could auto-approve your high volume low-value invoices like water hauling tickets? How much time would this save your AP team, providing them more time to focus on core tasks that drive the business forward?

What if your company took this further and automated invoice approvals for invoices under $5,000? Then 10,000? You would essentially eliminate 90% of your AP burden!

via GIPHY

Permian Operator Reduces Invoice Cycles Times with Touchless Invoicing

 

One large Permian operator has already fully automated coding validation and approval of 40% of its invoice volume. Another 20-30% of its invoice approvals are partially automated—meaning either the coding is auto-validated or the invoice is auto-approved.

Challenges

The operator was experiencing high growth in Permian Basin and looked to align assets and reduce G&A costs. On average the company processes 25,000 invoices per month but has seen volumes of 40-60,000 in peak times. The company examined its OpenInvoice data to see how it could improve its invoice process. A benefit of using a complete digital workflow from the opening of an invoice to the invoice approval is every step is trackable.

The company was surprised to see only 2% of their invoice volume was being disputed. Also, often in this review process, the same person that approves the field ticket must also approve the invoice, creating a double touch. After analyzing the data, the company realized approvers spent on average eight seconds to approve low value invoices. This indicated that the approvers didn’t have time to properly review the invoices due to the number of low value invoices coming through that needed approval.

Solution

Realizing this double touch created an unnecessary bottleneck, the company decided to implement invoice auto-approvals, so that if the field ticket and the invoice contain the same information, the approver doesn’t need to review the invoice.

The company wanted to show the positive effects of the invoice approval automation, so the company spent a year, extracting date from its OpenInvoice instance. Here are the company’s findings:

  • Automation increases the touchless invoices which reduces cycle time;
  • Manual users are able to focus on processing the high value invoices faster and approvers can focus more on managing overall budget; and
  • The invoice processing time decreased which led to more early payment discounts.

The operator has since fully automated 40% of its invoice approvals and partially automated between 20-30%.

“Those percentages, whether you go from 20,000 to 60,000 invoices, is going to be the same. We’re still going to hit forty thousand for 40 percent, no touch. And so that’s been great in letting us know how many resources we need to bring back on if we have a spike. We can forecast a little bit more than we used to at the resource time needed in that department.” -Lead Accountant, Permian Operator

 

Touchless invoicing offers a massive opportunity for energy companies to reduce their overall invoice processing cycle times, which leads to more discounts. Also, by removing repetitive, manual work, your team can focus more on high-value add activities like cost analysis, forecasting, and budget control.

 

If you are ready to learn more about how touchless invoicing can save your company time and resources, contact us at [email protected] or call us at 1-800-242-4245 to set up your complimentary business review with our team of experts.

Enverus Launches Next Generation CurveBuilder Technology

Enverus Launches Next Generation CurveBuilder Technology

Austin, Texas (October 26, 2020) — Enverus, the leading energy SaaS and data analytics company, has released the next generation of CurveBuilder, its leading forward curves data management software.

The new web-based CurveBuilder empowers all users within the trade floor — from traders to risk analysts — to create complex forward curve formulas in seconds from any remote working location. This revolutionizes access to forward curve analysis, which was previously siloed and limited to analysts with technical and coding skills.

“Global commodity trading firms are now gaining up-to-the-minute visualization of trade positions with real-time forward curve generation using CurveBuilder,” said Simon Crisp, general manager of Enverus Trading & Risk. “The software is web-based, fast, simple and intuitive, enabling traders to quickly visualize market scenarios and perform instant forward curves analysis.”

CurveBuilder provides compliance and risk managers access to complete transparency and audit trails within forward curves management, allowing users to track every change in the history of every forward curve, with unique holiday calendars and automated curves for profits and losses (P&L), value at risk (VaR) and market settles.

Democratize trade floor data — find a single source of truth

CurveBuilder’s technology empowers traders by delivering an intraday pricing solution and plugs directly into MarketView, an energy market data visualization software, for comprehensive access to market analytics tools for your specialized energy market price data feeds.

The software brings trade floors a solution to organize market data, proprietary data, forward curves and fundamentals data, in a single location. CurveBuilder implementation increases operational efficiencies, risk mitigation and compliance.

Less data collection and compliance headaches

CurveBuilder brings commodity trading firms the ability to perform all the lengthy daily forward curves and compliance analysis in a fraction of the time.

In-house forward curve management systems built in Excel spreadsheets risk making manual errors, and ignore the need for storing a robust, complete audit history. Using CurveBuilder reduces the complexity of these home-grown systems. Ultimately, trading firms using CurveBuilder spend less information technology (IT) staffing budget and time on complex data collection and compliance practices.

CurveBuilder’s flexibility makes it easy to connect with the complex algorithms generated in-house. A recent CurveBuilder implementation reduced a trading firm’s total time spent producing curves by 75%.

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

Figure 1. In total, Enverus customer GEN-I saves an average of 75% more time from the curve building process.

Learn more about CurveBuilder and the sophisticated simplicity it can bring to your trade floor by visiting this site and signing up for a virtual demo of our technology.

About Enverus
Enverus is the leading energy SaaS company delivering highly technical insights and predictive/prescriptive analytics that empower customers to make decisions that increase profit. Enverus’ innovative technologies drive production and investment strategies, enable best practices for energy and commodity trading and risk management, and reduce costs through automated processes across critical business functions. Enverus is a strategic partner to more than 6,000 customers in 50 countries. Enverus is a portfolio company of Genstar Capital. Learn more at Enverus.com.

Midstream Exposure to Federal Lands

Midstream Exposure to Federal Lands

With the U.S. presidential election less than two weeks away, a potential Joe Biden victory and his promise of restricting access to federal lands are top of mind for investors. While many oil and gas producers could lose inventory and long-term production potential, midstream companies who hold immobile, hard assets on federal lands and deliver that production downstream face a similar downside risk to throughput.

Figure 1 shows total crude and gas gathering system exposure as a percentage of total pipeline miles across federal acreage. While specific names have been removed, Lucid Energy and MPLX sit at the top of the list of midstreamers gas gathering assets exposed to federal acreage in the prolific Delaware Basin in New Mexico. Enterprise Products Partners (EPD),  Summit Midstream (SMLP) and Enlink (ENLC) also hold gathering asset risk

For some midstreamers, low post-COVID-19 oil prices have already reduced activity on their systems. For others, drilling programs by E&P companies have been resilient. The second group of midstreamers, which includes Lucid, EPD, MPLX, SMLP, ENLC and Enable (ENBL), could experience sharply reduced volumes if drilling stops because of steep first-year declines for shale wells. Companies with active drilling programs through 2020 face more downside risk than those producers that drastically cut activity in the wake of the pandemic.

Figure 2 shows current active rigs connected to oil and gas gathering systems in the Delaware play in New Mexico. The active rigs are not specifically drilling on federal acreage, but given the density of federal land in Lea and Eddy counties, we assume active rig count may decline significantly if a ban on well fracture stimulation is imposed. Energy Transfer’s (ET’s) gas gathering system in New Mexico currently has the largest number of active rigs working, followed by Lucid Energy. Oil gathering systems including Exxon (XOM), Plains All American Pipeline (PAA) and MPLX have between six and eight active rigs working to drill wells. For comparison, Oryx, a system with greater acreage diversification across the Permian Basin, currently has four active rigs tied to it.

FIGURE 1 | Crude and Gas Gathering System Exposure to Federal Lands by Midstreamer

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

FIGURE 2 | Current Active Rigs on Oil and Gas Gathering Systems in New Mexico Delaware

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

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Innovation in Back-Office Efficiency Increases Profitability in Oil and Gas

Innovation in Back-Office Efficiency Increases Profitability in Oil and Gas

SPARK Conference 2020 Highlights

 

Each year, Enverus employees and industry experts convene with customers at the Business Automation User Conference. Cost control is a vital part of oil and gas profitability, so we look forward to this annual event because it brings together accounts payable, joint venture accounting and supply chain, and operations professionals to learn about new ways to drive efficiencies in the back-office to increase profitability across an entire company. It almost feels like a family reunion for employees and customers who have worked together for years.

While our family was unable to meet in-person this year due to the COVID-19 pandemic, Enverus reached a new milestone in our company’s history with this year’s conference going completely virtual and rebranded as SPARK! This year’s conference took place on Oct. 14 and focused on innovating through the downturn, and how business automation will play a dominant role in the future of energy to deliver predictability and profitability.

“With the economic downturn related to the coronavirus pandemic and volatility in commodity pricing, travel and in-person conferences have come to a standstill,” says Chris Dinkler, general manager and senior vice president of Enverus Business Automation. “For years, a handshake upon a deal, networking and knowledge-sharing have been the cornerstone of the energy industry — but we’re living in a new world now. While we cannot replace a personal interaction and connection, we are coming close to replicating some of those incredible elements virtually with SPARK.”

This year’s SPARK conference brought together more than 600 attendees, 44 speakers and 19 sessions focused on the theme of “Ignite Innovation.” We are thankful for the support and feedback we received just a week after concluding SPARK.

 

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Here are a few of the key themes discussed during the virtual conference.

The downturn has increased the pace of innovation in energy.

When the pandemic started, companies around the world had to adapt quickly to protect their employees while maintaining continuity of business. Energy companies had to manage this change with the added challenge of a steep drop in demand, sending the entire industry into a downward spiral. One would think this might damper innovation, but it accelerated the pace. Enverus customers saw the writing on the wall — either innovate or be left behind.

The new solutions featured at SPARK, including OpenInsights spend analytics and Audit Intelligence (built in partnership with operators Ovintiv and Concho Resources), are just a few examples of the results of this rapid pace of innovation.

A customized strategic sourcing solution is needed for the energy industry.

The entire oil patch model of operations is focused on outsourcing specialized work to service companies. This creates an extremely complex sourcing ecosystem. With the largest network of operators and service providers in North America transacting on OpenInvoice, Enverus is well-positioned to create an entire source-to-settle solution, aimed at improving collaboration between suppliers and buyers.

During SPARK, Enverus and Marathon Oil announced a joint venture to build this complete sourcing solution.

 

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A focus on increasing back-office efficiency is critical in an environment of shrinking margins where cash is king.

Improving efficiency anywhere in your operations is a proven way to save time and resources, ultimately improving cost control. While many energy companies already use the latest drilling technologies in the field, some are still stuck in the 1980s when it comes to efficient back-office processes, using paper invoices and field tickets to track work completed in the field. Focusing on improving back-office efficiency is an area of opportunity still untapped by many companies and offers additional opportunity for cost savings, as well as the ability to operate with reduced staff where impacted by the downturn.

During SPARK, several Enverus customers spoke about the time and resources saved by turning to Enverus’ technology, automation and services to protect margins from market volatility and drive greater efficiency in their business.

“Don’t Stop Believing” was the title of the conference’s keynote session. In this session, a panel of industry executives discussed the outlook of the industry over the next 18 months and the important role technology will play in delivering future profitability. The three themes discussed above were key messages featured during different sessions throughout the day. In the end, we all must keep believing that the future of energy is bright, but we also must act to build that bright future by continuing to innovate together.

Interested in viewing sessions from SPARK 2020?

Visit SPARK to view on-demand sessions or email [email protected] for more information.

 

ConocoPhillips acquires Concho Resources for $13.3 billion in the largest pure shale deal since 2011

ConocoPhillips acquires Concho Resources for $13.3 billion in the largest pure shale deal since 2011

ConocoPhillips is acquiring Permian heavyweight Concho Resources in an all-stock deal for $49.30 per share (total equity value of $9.7 billion) and a total enterprise value of $13.3 billion. The acquisition adds 550,000 net acres in the Permian (350,000 Delaware acres and 200,000 Midland acres) plus 200,000 bbl/d oil output and 719 MMcf/d gas production for 2Q20 to Conoco’s portfolio, increasing Permian output six-fold. Only 20% of Concho’s leasehold is located on federal land.

Download the ConocoPhillips/ Concho Resources Executive Deal Summary Report

“Concho Resources is one of the premier acquisition targets among U.S. shale drillers and Conoco is on a very short list of potential buyers, so this deal looks to be a natural fit on both sides,” said Enverus M&A analyst Andrew Dittmar. The $13.3 billion acquisition is the largest upstream deal entirely focused on shale since BHP bought Petrohawk for $15.1 billion in 2011.

Top Ten U.S. Upstream Deals Since 2010

ConocoPhillips acquires Concho Resources for .3 billion in the largest pure shale deal since 2011

“Buying Concho strategically fills a gap in Conoco’s portfolio. While well positioned in multiple U.S. plays like the Eagle Ford and Bakken plus internationally, Conoco lagged rivals in the Permian,” added Dittmar. “Conoco’s patience waiting for the right deal appears well rewarded as the company is picking up one of the premier positions in the Permian at ~$10,000/acre or a fraction of the cost of other large deals in the basin over the last few years.”

An important factor when evaluating potential merger targets in the current market are debt loads. Acquirers don’t want to stress their own balance sheets by taking on targets with excess debt. Again, Concho registers well in this category with debt comprising less than 30% of total transaction enterprise value.

Like the other corporate consolidation deals in 2020, the consideration to Concho shareholders is entirely stock. One difference is that this deal does include a moderate premium of 15% to Concho’s share price before rumors of a deal began to swirl on October 13th. That is in contrast to 2020’s other corporate deals, which have been for essentially no premium. Concho was trading at enough of a discount to its intrinsic value that Conoco is able to pay this premium and still see the deal as accretive to its shareholders.

The deal looks beneficial to Concho owners, giving them a piece of a more diversified asset base that includes significant Alaska and international exposure in addition to shale. The addition of conventional assets lessens the base decline rate and makes it more straight forward to return capital to shareholders. Conoco’s pre-deal stock price and payout implies a dividend yield of around 5%. The combined company will target returning 30% of cash from operations to shareholders through ordinary dividends and additional distributions.

With over $30 billion in announced E&P mergers now on the books in 2020 including two deals over $10 billion, shale consolidation is well underway. Even the total dollar amount transacted understates the scale of consolidation going on in the industry given still depressed equity prices relative to past years. Over 1.0 Mboe/d of production and 1.6 million net acres have changed hands in four corporate deals year-to-date.

“Even after 2020’s merger activity, there is still room left for the industry to consolidate,” commented Dittmar. “The limiting factor will be the number of attractive merger partners available, both on the seller and acquirer side.”

The relative scarcity of attractive deals may place additional pressure on some companies to get a transaction in place and lead to more activity in the near term. Some of the other well-positioned independents in the Permian with reasonable debt loads are likely the best prospects for a deal.

Download Your Executive Deal Summary Report