Blog Feed | Enverus

U.S. upstream M&A hits $38 billion in 1Q26 before volatility temporarily pauses the market

CALGARY, Alberta (May 13, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released its summary of recent U.S. upstream M&A activity and market outlook, highlighting a strong start to 2026 followed by a volatility-driven slowdown that is expected to reverse.

U.S. upstream deal value reached $38 billion in 1Q26, the highest quarterly total in two years, before activity slowed sharply in March amid increased crude price volatility. Despite the pause, higher oil prices are expected to accelerate a rebound in dealmaking, particularly by enabling more private E&Ps to pursue sales while supporting continued corporate consolidation.

“The market entered a temporary holding pattern as volatility clouded the outlook for oil prices, but the case for higher-for-longer oil prices is strengthening and creating the setup for an M&A rebound. We expect that to translate into more private companies coming to market, something we are already starting to see, and continued consolidation among public operators,” said Andrew Dittmar, principal analyst at Enverus Intelligence Research.

Top Five U.S. Upstream Deals of 1Q26

Date	Buyers	Sellers	Deal Type	US Basin or Play	Value ($MM)
2/2/2026	Devon Energy	Coterra Energy	Corporate	Multiple	$25,413
1/16/2026	Mitsubishi	Aethon III	Corporate	Haynesville	$7,530
2/17/2026	Flywheel Energy	Ovintiv	Property	Anadarko	$3,000
2/18/2026	Caturus Energy	SM Energy	Property	Eagle Ford	$950
2/25/2026	Crescent Energy	Undisclosed Seller	Royalty	Eagle Ford	$355

Source | Enverus Oil & Gas M&A

Activity in early 2026 was driven largely by corporate consolidation, including a $25 billion merger by Devon Energy and Coterra Energy that contributed about two-thirds of quarterly deal value. Over the past six months, total deal value exceeded $60 billion as the market continued to build momentum. However, transaction count declined in 1Q26, with only eight deals over $100 million recorded, tying a post-2020 low. The slowdown in volume reflects less active deal flow in March given uncertainty in oil markets once the Iran conflict commenced.

Buyer composition continues to evolve, with asset-backed securitization (ABS) financing playing a growing role in production-weighted acquisitions. Recent transactions underscore sustained demand from ABS-linked buyers, including Ovintiv’s $3 billion sale of Anadarko Basin assets in the first quarter to Flywheel Energy, a buyer that has deployed ABS financing in past deals. Diversified Energy’s recent $1.175 billion acquisition of Anadarko Basin assets from Camino Natural Resources was publicly linked to an ABS placement and demonstrates continued appetite for cash-flowing production from this buyer pool.

International capital remains active, particularly in gas-weighted regions. Gulf Coast-adjacent assets, including those in the Haynesville, continue to attract strong interest from Asian buyers, with Mitsubishi’s purchase of Aethon Energy for $7.6 billion highlighting this trend. Limited remaining Haynesville targets are likely to push buyers to evaluate alternative regions such as Appalachia despite infrastructure constraints, or even gassier portions of the Permian once a pipeline buildout helps alleviate extremely poor gas pricing in the region. Outside the U.S., Shell’s 2Q26 $16.4 billion acquisition of ARC Resources in Canada highlights renewed interest from European supermajors returning to the market as buyers, with its interest likely linked to the completion of LNG Canada Phase 1, with a final investment decision on Phase 2 pending.

Higher oil prices are also shifting seller behavior, increasing the likelihood of private sales. Better pricing is expected to encourage more private E&Ps to bring assets to market, including a handful of remaining targets in the Permian, while also making mature plays like the Eagle Ford and Williston significantly more economic to develop. Reports that Eagle Ford producer WildFire Energy is going to market, as well as the recent acquisition of Zavanna Energy by Kraken Resource in the Williston Basin, underscore this trend. Public companies that have participated in large-scale M&A, like ConocoPhillips, Devon Energy and SM Energy, are likely to take advantage of higher prices and a hot asset market to trim non-core portions of their portfolios.

Inventory pricing remains a central theme. Pricing for oil-weighted inventory remained resilient in 2025 even in a lower crude price environment, and rising oil prices are expected to further lift inventory values as buyers rush to secure remaining opportunities.

Looking ahead, EIR expects deal activity to follow historical patterns, where periods of volatility-driven slowdowns are followed by sharp recoveries once markets stabilize. A material shift in crude prices higher will add fuel to this rebound. “We are likely heading into another tsunami of consolidation as higher oil prices supercharge both private companies going to market and public E&P appetite for deals, both corporate consolidation and private asset sales,” added Dittmar. “This, combined with strong appetite from private capital, both ABS and traditional private equity, this sets up the market for a very busy rest of the year.”

EIR’s analysis pulls from a variety of products including Enverus ONE®.

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EIR research reports cannot be distributed to members of the media without a scheduled interview. Journalists interested in learning more about this analysis are encouraged to use our Request Media Interview button to schedule a time to meet with one of our expert analysts, who can provide context, insight, and deeper discussion of the findings.

About Enverus Intelligence® Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.

EIR maintains higher-for-longer oil outlook as markets catch up

CALGARY, Alberta (May 12, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released its latest Fundamental Edge report, reaffirming its higher-for-longer oil price outlook first established in mid-March as market consensus moves closer to its projections.

EIR has maintained its average Brent forecast of $95/bbl for the rest of 2026 and $100/bbl for all of 2027, even as market pricing and peer forecasts have moved toward that view. The outlook is driven by the closure of the Strait of Hormuz impacting oil flows and subsequent low OECD crude and product stock levels.

“Since March 11, our view has been that oil prices would remain higher for longer, and we have not deviated from that position as events have unfolded. However, our three-month base case closure presumption is about to come due, and the lack of resolution introduces additional uncertainty around the path forward. For every additional month the Strait remains closed, we would expect $10–$15/bbl to be added to our price outlook,” said Al Salazar, director of research at EIR.

Key takeaways

EIR has maintained its average Brent forecast of $95/bbl for the rest of 2026 and $100/bbl for 2027 since March 11.
Market pricing and peer revisions are now moving closer to EIR’s earlier outlook.
The base case assumes a three-month Strait of Hormuz closure.
Each additional month of disruption adds approximately $10–$15/bbl to the outlook.
Structural factors, including constrained spare capacity and muted U.S. supply response, support a sustained geopolitical risk premium.

EIR’s analysis pulls from a variety of products including Enverus ONE™.

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Enverus releases Top 50 Public E&P Operators of 2024

The Week in Energy – May 8, 2026

This week’s energy headlines spotlight midstream M&A scale-building, Canadian NGL consolidation under pressure, offshore technology expansion, and steady positioning from super-majors amid geopolitical volatility. Here are five stories that stood out:

Additional Stories

Also this week: Chord optimized its Bakken output with artificial lift, Williams expanded gas and power infrastructure for datacenter demand, Kinetik extended Durango contracts into the late 2030s, Solaris raised $1.3B for distributed power, Atlas sold out of Permian proppant, Colorado and Wyoming aligned on CO2 storage permitting, and IFM’s Mobius expanded into global biogas.

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

Enverus Press Release - Enverus Earns Top Workplaces Honors for Fourth Consecutive Year

When Workflows Aren’t Connected, Risk Shows Up Too Late

In energy trading, risk problems do not always begin with the risk model.

Often, they begin much earlier in the disconnected workflows surrounding the decision itself:

A trade is captured late.
A number is updated in one place but not another.
One team is looking at one assumption while another is using a different version.
A workflow depends on manual handoffs, spreadsheet reconciliation, or patchwork coordination across systems.

By the time the full picture comes together, the moment to respond may already have passed. This is one of the most serious costs of fragmentation:

Risk does not necessarily become visible when it emerges. It becomes visible when disconnected workflows finally catch up to it.

Risk visibility depends on connected workflows

Risk oversight is often treated as a downstream process. But in practice, risk visibility depends on how well workflows are connected across the trading organization.

If traders, analysts, risk managers, and adjacent operational stakeholders are working from inconsistent data views or disconnected systems, it becomes harder to maintain a clear and timely understanding of exposure. The issue is not simply whether the organization has a risk function or risk tools. The issue is whether the underlying workflows support shared context, consistency, and timely visibility. It’s broader than organizational structure. It is about whether the people and processes involved in decisions are working from a common operational picture.

Where fragmentation creates risk blind spots

These disconnects are often familiar. Trades may be tracked locally before they appear in centralized views, pricing assumptions can vary across teams, and exposure context may rely on reports that arrive after market conditions have already shifted. At the same time, workflow status is often buried in emails, spreadsheets, or side systems, leaving critical information out of sight for those who need it most.

None of this means teams are careless. In many cases, these workflows evolved to solve real needs over time. But as organizations add more data, more systems, and more collaboration across teams, fragmented processes create more opportunities for delay, inconsistency, and uncertainty.

This can create several kinds of blind spots:

delayed visibility into changing exposure
inconsistent assumptions behind valuations or position views
slower escalation when thresholds or concerns emerge
more reconciliation effort before teams trust what they are seeing
weaker governance and auditability across risk-relevant workflows

The result is not always a dramatic failure. More often, it is slower understanding at exactly the moment speed matters most.

Why timing matters more in volatile markets

In slower or more predictable environments, organizations could sometimes absorb the friction. Teams had more time to reconcile, align, and decide.

That is no longer a safe assumption.

Energy trading organizations are operating in markets where volatility, complexity, and time sensitivity all increase the cost of delayed understanding. When market conditions shift quickly, the organization needs to know not just what happened, but what it means for positions, exposures, and decisions now. That kind of response is difficult when context is scattered.

Risk leaders are also under growing pressure to improve governance, visibility, and confidence as workflows become more distributed and data volumes rise. When work is fragmented across tools and teams, maintaining control becomes harder. And when modernization efforts do not address that fragmentation, they can create more layers to manage rather than less.

The cost of late risk visibility

When workflows aren’t connected. Risk tends to surface late and in very practical ways. Teams may spend too much time figuring out whether they’re working from the same numbers, which assumptions shaped a given view, or whether an issue signals real exposure, a gap in the workflow, or simply a data mismatch. And every moment spent untangling those questions is time not spent acting on what truly matters.

The cost shows up in several ways:

Slower response. It takes longer to interpret changing conditions and decide how to respond.
Lower confidence. Teams spend more time proving the view than using it.
More friction between functions. Trading, analysis, and risk teams can end up debating the picture rather than the action.
Weaker operational control. Manual coordination makes traceability and governance harder to maintain.

Risk management depends not only on analysis, but on organizational alignment. Fragmented workflows make that alignment harder.

What better looks like

Real-time risk visibility is not just a faster dashboard. It is the result of a more connected operating environment.

It means trusted intelligence, analytics, and workflow context are aligned with risk‑relevant processes across the trading organization. Teams can operate from more consistent assumptions, identify issues earlier, and spend less time reconciling disconnected views. Governance and control are embedded in the workflow itself, all supported by how work gets done, not added later through manual oversight.

This is where modernization matters.

A more connected, browser-based environment can help reduce the disconnects that cause risk to show up late. And when that modernization is approached with continuity, not forced disruption, organizations have a more practical path to improving visibility without destabilizing the workflows they depend on today.

In the next post, we look at bolt-on automation, a common response to fragmentation, and why it often falls short of solving the real problem.

See how connected trading and risk workflows result in real-time risk visibility

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Frequently Asked Questions

Why do risk problems often show up late in energy trading organizations?

Because risk visibility depends on how well workflows are connected, not just whether a risk function exists. When trades are captured late, data lives in separate systems, or teams are working from different assumptions, the full picture only comes together after the fact. By then, the window to respond may have already closed.

What kinds of blind spots does workflow fragmentation create?

The most common ones include delayed visibility into changing exposure, inconsistent assumptions across teams, slower escalation when issues arise, and significant time spent reconciling data before anyone trusts what they’re seeing. None of these require a dramatic failure to cause real damage. They just make it harder to understand what’s happening at the moments when speed matters most.

Why is this problem harder to absorb in today’s markets than it used to be?

In slower, more predictable markets, organizations could often work through the friction. There was time to reconcile, align, and decide. That cushion is largely gone. Volatility, complexity, and time sensitivity have all increased, which means the cost of delayed understanding is higher. The organization needs to know not just what happened, but what it means for positions and decisions right now.

What does better risk visibility actually require?

It requires a more connected operating environment, not just faster reporting tools. When workflows are aligned across trading, analysis, and risk functions, teams operate from consistent assumptions, surface issues earlier, and spend less time debating the picture. Governance and control become part of how work gets done rather than something added on top through manual oversight.

Enverus Press Release - Enverus honored as one of Alberta’s leading employers

Why Slow Title Is Losing You Mineral Deals (And How to Fix It)

In mineral acquisition, there’s a gap between how fast title needs to happen and how fast it actually happens. Deals close in days. Manual title takes weeks. That gap is where acquisitions are won and lost. Most mineral buyers have accepted it as an unavoidable constraint. It isn’t.

This isn’t a resource problem. Most mineral acquisition firms are lean by design. The teams winning more deals in competitive markets aren’t bigger. They’re faster. And the ones that move fastest have solved the same problem: they’ve closed the gap between courthouse and decision.

By the end of this post you will understand exactly where slow title is costing your firm deals and margin, why the fastest mineral buyers are compounding an advantage that gets harder to close over time, and what you can do right now to get ahead of it. The solution is proven and available today. The buyers who put it to work first will be the hardest to compete against twelve months from now.

What slow title actually costs a mineral buyer

The most direct cost is a deal you never close. When a competitor with faster title processes has an ownership answer before your team has finished the courthouse run, the acquisition is gone. You don’t see the loss. It just doesn’t appear in your pipeline. That’s the cost that’s hardest to measure and most expensive to ignore.

The second cost shows up after close. Approximately $5 billion per year flows out of the mineral acquisition industry as royalty defects: payments made to the wrong owner or at the wrong amount because manual ownership calculations introduced an error somewhere in the chain. By the time the error surfaces, the deal has already closed. Correcting it is expensive, contentious, and entirely avoidable.

The third cost is structural. Every contracted landman who finishes a deal and moves on takes a lot of contextual understanding of the title with them. The courthouse research, the ownership interpretations, and the institutional knowledge built over weeks of title work. While you own the files, the calculations and how the files were derived are often not documented. When you return to that county on the next deal, your team starts from scratch. The work you already paid for is not leveraged.

How the fastest buyers are solving it

As a mineral acquisition company, we need to do three things right: buy the right rock, invest at the right price, and know who to buy from. Tracts enables us to get number 3 right and do it in 50% less time than traditional land workflows. Because of Tracts, our money goes into minerals instead of into day rates.

– Christopher Beato, CEO of Rocking WW Minerals

The structural shift Rocking WW made isn’t about working harder or hiring more people. It’s about changing what happens to the work.

When every document interpretation goes into a shared library the firm owns permanently, the next deal in that common area of interest starts where the last one left off. When ownership math is automated from the moment a document is entered, the calculation error that creates a royalty defect never happens. When a contractor finishes a deal and moves on, their work stays in your system, not in a file folder on a network drive or file cabinet that few people know about or can access.

That’s the compounding advantage. A firm that has been building its county library for two years moves faster on every new opportunity in those counties than a competitor starting from scratch. The gap compounds with every deal.

The Permian opportunity

For Permian-focused mineral buyers, there’s a capability available right now that changes the economics of entering a new county: Tracts County Arrays and County Interpretations.

Most teams entering a new Permian county spend weeks on courthouse research before they can evaluate whether the opportunity is worth pursuing. Tracts County Interpretations deliver near-complete title for targeted counties before your team runs a single document. You start with the answer nearly in hand.

No competitor in the market offers pre-curated Permian county title data at the interpretation level. For buyers concentrated in the Permian Basin, this is the clearest demonstration of what the Enverus and Tracts partnership makes possible, and the sharpest competitive edge available to mineral acquisition firms evaluating deals in those counties today.

The three questions worth asking your team

If you’re evaluating whether your current process has a speed problem, start here:

How often does deal timing put pressure on your title timeline, and have you ever lost an acquisition because a competitor moved faster?
When you return to a county your team has worked before, how much of the title work gets redone from scratch?
When a contracted landman finishes a deal and moves on, what happens to the knowledge they amassed?

If the answers are uncomfortable, you’re not alone. Most mineral acquisition firms are running a process that was built for a slower market. The firms that close more deals without adding headcount have changed the process, not the team.

What you can do now

Tracts is a cloud-based title management platform built for oil and gas mineral acquisition. It automates ownership math, builds a permanent interpretation library your firm owns, and connects directly to Enverus courthouse data so your team moves from document to decision without manual handoffs. The Enverus and Tracts connected workflow covers the full acquisition title process: from courthouse document retrieval through ownership interpretation, with Zero-Math calculations that automate all ownership math, the Common Title Finder that means common title is never run twice, and Permian County Interpretations that deliver near-complete title before your team runs a document.

Title timelines cut by up to 75%. Royalty defect risk eliminated at the source. Every deal building institutional knowledge that makes the next deal faster.

On May 27, 2025, Silas Martin (VP & GM Land & Title, Enverus) and Ashley Gilmore (CEO & Co-Founder, Tracts) are walking through exactly how this works and answering questions from mineral buyers and land teams who want to see the workflow in practice.

Enverus Media Advisory - Trump vs. Harris: A tale of two energy policies

Honeymoon’s Over | From Spend to Return

Four major hyperscalers reported earnings April 29, with investor reaction split as updated revenue and CapEx outlooks sharpened focus on AI returns. GOOGL surged on strong Google Cloud results, even as chip constraints capped sales, a sign its CapEx is translating into AI-driven demand and revenue growth. META, by contrast, saw investor pullback after raising its 2026 CapEx guidance, underscoring concern about heavier AI spending without a clearer near-term payoff. Based on disclosed plans, 2026 capital spending by GOOGL, AMZN, META and MSFT totals roughly $695 billion to $725 billion, up from prior high-end expectations of about $670 billion.

Hyperscaler CapEx remains a key driver of data center growth. Enverus Intelligence^® Research (EIR) forecasts load growth of 11% to 19% by 2035 across scenarios ranging from 2% to 7% CAGR (Figure 1), with data centers accounting for a substantial share. The buildout era is maturing, and capital alone is no longer enough to move markets.

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

Get the Full Picture

Research Highlights:

Planning Under Uncertainty – Market Fundamentals and Investment Decisions – This Enverus EVOLVE 2026 presentation frames U.S. power-market planning as a scenario problem, not a single forecast. We build bottom-up load cases driven by data centers and EVs, then link demand paths to investment outcomes by jointly modeling energy, capacity and REC markets across policy and cost levers — reducing mis-sized builds, mispriced PPAs and missed capacity value.

Valuing the Stack – Drivers of Asset Economics and IPP Valuations – This presentation from Enverus EVOLVE 2026 examines the shifting economics of power generation and its impact on asset and IPP valuations. We explore how merchant price curves, ancillary revenues and contract structures are reshaping returns across renewables and gas-fired generation — and how these dynamics are driving valuation premiums and discounts as market participants recalibrate their strategies.

The Binding Constraint – From EUV Machines to Megawatts – We model the full supply stack, from EUV tool delivery, advanced packaging and high-bandwidth memory to show AI compute capacity can only expand as fast as new EUV tools are deployed into high-performance computing-serving fab lines.

DID YOU KNOW?

A single NVDA Blackwell GPU rack consumes enough power to supply electricity to about 100 average U.S. households.

Top 3 Takeaways

1. Why did investors reward some hyperscalers and punish others?

Because markets are no longer impressed by AI spending alone. Google’s results showed AI investment translating into real cloud demand and revenue growth, while Meta’s higher CapEx guidance raised concerns about spending faster than returns can materialize. Investors are now separating spend that drives near‑term value from spend that still feels speculative.

2. What does rising hyperscaler CapEx mean for data centers and power markets?

Hyperscaler CapEx continues to fuel data center growth, making it a major driver of electricity demand. Enverus Intelligence® Research expects power load growth of 11 to 19 percent by 2035, with data centers accounting for a meaningful share. However, as the buildout matures, simply adding capital is no longer enough to influence market outcomes.

3. What is the emerging constraint on AI growth going forward?

The bottleneck is shifting from money to infrastructure. AI compute can only scale as fast as critical inputs like EUV tools, advanced packaging, memory, and megawatt availability allow. In other words, returns will increasingly be limited by physical and power constraints, not a lack of capital or ambition.

About Enverus Intelligence® | Research

Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations, and macro-economic forecasts and helps make intelligent connections for energy industry participants, service companies, and capital providers worldwide. See additional disclosures here.

EVOLVE 2026: Taking insight to execution in seconds with Enverus ONE®

Austin, Texas (May 7, 2026) — Enverus, the leading energy data analytics platform, successfully concluded its annual EVOLVE Conference, held May 4–6 in Houston, Texas.

The company’s flagship customer conference brought together 840 attendees from across oil and gas, power and renewables, capital markets and technology to examine how data, analytics and artificial intelligence are reshaping decision‑making across the energy value chain. EVOLVE 2026 featured nearly 45 individual sessions across five tracks and two technical theater tracks, with Enverus ONE® serving as the unifying platform across data, workflows and decision‑making showcased throughout the event.

In his opening keynote, Enverus CEO Manuj Nikhanj outlined how artificial intelligence is transforming the energy industry by closing the gap between insight and execution. He emphasized that competitive advantage in the AI era will be defined not by access to models alone, but by the ability to embed proprietary data and institutional knowledge into real‑world workflows. Nikhanj positioned Enverus ONE as a purpose‑built, governed AI platform designed to amplify human expertise and deliver faster, more consistent decision‑making across the energy value chain.

“EVOLVE is where we move beyond conversation and show how technology is actually being applied across real energy workflows,” said Manuj Nikhanj, CEO of Enverus. “As volatility and uncertainty continue to define the energy landscape, bringing data, analytics and AI together in a single, decision‑grade platform is becoming essential, not optional.”

At EVOLVE 2026, Enverus also announced LifeSaver, a new field safety initiative being developed with Continental Resources, BPX Energy, Chord Energy and Ranger Energy Services. Built on the Enverus ONE platform, LifeSaver is designed to help protect workers in dynamic field environments by delivering timely, job‑specific safety guidance directly to field crews, supporting safer decisions before and during work. Field pilots are planned during 2026, beginning in the Bakken oil fields of North Dakota, reflecting a shared industry commitment to using technology to help people go home safe at the end of every shift.

Throughout the first two days of the conference, Enverus subject matter experts and customers shared insights showing that global energy markets are entering a more constrained and complex phase, defined less by surplus and more by uncertainty, discipline and structural change. Presentations spanning upstream, oilfield services, global gas and LNG, North American equities and power markets pointed to tightening supply conditions, uneven price signals and widening performance gaps driven by capital allocation, basin-level differentiation and balance-sheet strength. As volatility persists, speakers emphasized scenario planning, flexibility and cost discipline as essential tools for navigating the next phase of the cycle.

Power and natural gas were featured prominently as shifting demand dynamics, particularly data center growth and AI-driven load, collide with infrastructure constraints, siting challenges and global competition for supply. Analysts highlighted how these forces are reshaping long-term economics, from global LNG flows and upstream supply gaps to where value is created in power markets and asset valuations. Together, discussions at EVOLVE reinforced a central theme: energy security, speed of execution and informed decision-making are becoming decisive advantages as industry conditions continue to evolve.

Other notable speakers included:

Kyle Haustveit, Department of Energy Assistant Secretary, Hydrocarbons and Geothermal Energy Office
Marko Papic, Chief Strategist, BCA Research
Bilal Khan, Senior Managing Director, Blackstone
Stephen Trauber, Chairman and Global Head of Energy & Clean Technology, Moelis & Company

In addition to showcasing the Enverus ONE platform, Enverus expanded its focus on AI education and workforce readiness with the launch of an energy‑specific, executive‑level AI Certificate program. Designed to help senior leaders guide their organizations through practical AI adoption, the program culminated in 15 executives completing on‑site instruction and hands‑on training during EVOLVE week. Enverus emphasized that responsible, scalable AI adoption depends not only on advanced technology, but also on informed leadership, strong governance and a shared foundation for applying AI confidently across real energy workflows.

“Enverus has the breadth and unique position to have all the data,” added Jonny Brumley, president of Presta Petroleum LLC and a certified Enverus AI Fundamentals for Energy Executives participant. “This gives it a differential answer that competitors don’t have.”

To learn more about Enverus ONE or request a demonstration, visit Enverus.com/enverus‑one.

About Enverus
Enverus is the energy industry’s AI and data platform, serving more than 8,000 energy companies across 50 countries. Built on 25+ years of proprietary intelligence — 2.7 petabytes of continuously updated data, 350 million+ courthouse records, and $500 billion+ in annual transactions covering the full energy value chain across upstream, midstream, power, renewables, utilities, and capital markets. Enverus is 100% dedicated to energy. Learn more at Enverus.com.

Continental Resources, BPX Energy, Chord Energy and Ranger Energy Services Team with Enverus to Build Field Safety Platform on Enverus ONE™

AUSTIN, Texas (May 5, 2026) — Continental Resources, BPX Energy, Chord Energy and Ranger Energy Services, together with Enverus, today introduced LifeSaver, a field safety initiative being developed on the Enverus ONE™ platform. Field pilots are planned during 2026, beginning in the Bakken.

LifeSaver is being designed to help energy field crews access timely, job-specific safety guidance before and during work. The platform will bring together company safety procedures, job context, site conditions and relevant operational learnings through a field-ready, mobile-first experience for workers and supervisors.

The initiative reflects a shared commitment among the participating companies to apply technology to one of the industry’s most important priorities: helping people work more safely in dynamic field environments.

“This initiative brings together two of Continental’s core values — an unwavering commitment to safety and a drive to innovate in everything we do,” said Aaron Chang, COO, Continental Resources. “We helped convene this consortium because we believe the next meaningful improvement in field safety will come from putting better, contextual guidance directly in the hands of the people doing the work. Safety has always been at the heart of our operations, and LifeSaver represents an exciting step forward in how we apply advanced technology to help protect our people in real time. We’re proud to stand alongside our industry partners in bringing that vision to the field.”

Built for the realities of field work

Energy field operations are complex, dynamic and constantly changing. Crews work across shifting job scopes, equipment configurations, contractor teams, weather conditions and site-specific risks. Traditional safety systems remain essential, but many were designed primarily around planning, documentation and compliance workflows before or after the job. LifeSaver is being developed to support the work as it happens.

The platform is being designed to help crews access relevant safety guidance without requiring them to leave the worksite, sort through documentation or rely solely on memory in high-pressure moments. It will support company safety programs by making procedures, risk prompts and field-relevant information easier to access at the point of work.

LifeSaver is being engineered for the conditions of field work, including intermittent connectivity, high-noise environments and mobile-first access for crews in the field. It will also help supervisors and safety leaders maintain better visibility into field conditions, supporting stronger communication between frontline teams and enterprise safety organizations.

“Our crews have always carried strong safety practices into the field. What they haven’t had is technology that can adapt with them there,” said Jordie Harrell, Chief Technology Officer, BPX Energy. “LifeSaver is being designed to put job-specific guidance into workers’ hands in the moments that matter, on the devices they already use. That kind of technology, built around how field work actually happens, is how we extend the safety culture our people already live every day.”

How LifeSaver will work

LifeSaver will run on the Enverus ONE platform and is being designed for the operational realities of energy field work. The platform will connect company-specific safety content, job-specific contexts, operating inputs and relevant historical learnings through an experience built for field crews and supervisors.

For field teams, LifeSaver is expected to support:

Voice-first access to safety guidance designed for use in field conditions.
Job-specific risk prompts informed by task type, crew configuration, site context and work sequence.
Relevant operating inputs such as weather, nearby activity, equipment context and contractor presence, where available.
Company-specific safety procedures delivered in a format that is easier for crews to access during work.
Supervisor visibility that helps connect field conditions, work activity and safety leadership in near real time.
Shared safety learnings developed through consortium-led data controls and designed to improve safety intelligence across participating organizations.

LifeSaver is not intended to replace company safety programs, supervisor judgment or established operating procedures. It is being designed to strengthen them by making relevant safety guidance more accessible, specific to the work and timely.

“The hardest part of safety is that risk often emerges during work that looks routine,” said Colin Westmoreland, Chief Innovation Officer, Enverus. “The companies behind LifeSaver understand that reality, and they are choosing to address it together. We are proud to be developing the platform that will bring field context, safety intelligence and operational workflows together in a way that supports the people doing the work.”

A partner-led safety initiative

The companies behind LifeSaver are competitors, and their decision to build together carries significance well beyond their own operations. They have come together around a shared belief: the next meaningful improvement in field safety will require more than better forms or better documentation. It will require timely support that reflects the job, the site and the conditions around the work, built on strong governance, trusted data controls and deep operational expertise.

The consortium model will allow participating companies to collaborate on a common safety challenge while maintaining appropriate control over their own safety content, procedures and data. Shared learnings will be governed by content controls designed to protect company-specific information while helping the industry improve over time.

“Across each of our companies, the health and safety of our people is a core value,” said Danny Brown, CEO, Chord Energy. “LifeSaver represents a meaningful step forward in how our industry can use technology to support field teams. We are proud to help build and deploy a platform focused on protecting people where the work happens.”

Pilots planned during 2026, starting in the Bakken

Field pilots are planned during 2026, beginning in well service and workover operations in the Bakken, one of North America’s most active and operationally demanding producing regions. The Bakken was selected because field operations in the region often involve high activity levels, variable conditions and complex multi-contractor coordination.

“Well service and workover crews face some of the most dynamic risk conditions in the field,” said Stuart Bodden, CEO, Ranger Energy Services. “A platform that can keep pace with those conditions and put practical safety guidance directly in the hands of our people is exactly the kind of technology our industry needs.”

From there, LifeSaver is expected to expand into additional basins across North America and, over time, into adjacent high-consequence operating environments such as power plant maintenance, wind and solar construction, substation operations, water infrastructure and other industrial field settings.

A portion of future LifeSaver proceeds is expected to support a consortium-established non-profit dedicated to advancing worker safety across the energy industry through research, training and community investment.

About LifeSaver
LifeSaver is an AI-enabled field safety initiative being developed on the Enverus ONE platform and designed for energy and industrial operations. By combining voice-first workflows, mobile field tools and job-specific safety guidance, LifeSaver is being designed to help crews strengthen pre-job planning, access relevant safety information and make more informed decisions before and during work. Field pilots are planned during 2026 in oil and gas operations, with potential to expand into adjacent industrial sectors over time.

Enverus and Xpansiv broaden partnership to deliver a unified price discovery platform across energy and environmental markets through MarketView®

NEW YORK and AUSTIN – May 5, 2026 – Enverus and Xpansiv today announced an expanded partnership that brings Xpansiv CBL spot exchange transaction data and Evolution Markets forward indicative pricing for energy and environmental commodity markets into MarketView®, creating a consolidated price discovery and workflow platform across energy and environmental commodity markets.

Currently, exchange prices, OTC broker assessments, and core commodity data have lived in separate systems, forcing traders and risk teams to reconcile incomplete views of the market. The new offering harmonizes disparate environmental commodity data for market participants, including trading houses, brokers, financial institutions and corporate buyers.

MarketView now eliminates that fragmentation by bringing the most critical pricing signals together.

MarketView already serves more than 8,000 users across 500+ client sites, delivering real-time access to energy, commodity, and financial data from more than 500 providers across all major global exchanges, North American power ISOs, and leading price reporting agencies including OPIS, Argus, Platts, ICIS, and Fastmarkets. The addition of CBL and Evolution Markets data extends that trusted foundation into environmental commodity markets.

With the addition of CBL and Evolution Markets data from Xpansiv, market participants can now access:

Verified exchange transactions and firm orders from CBL, the world’s largest spot marketplace for environmental commodities, including renewable energy certificates (RECs) and carbon credits.
OTC broker spot and forward pricing from Evolution Markets, an Xpansiv company, covering a broad range of energy and environmental markets.

All data is delivered within a single, continuous workflow used for pricing, risk, and trading decisions.

The integration enables faster and more accurate:

Defensible mark-to-market valuations grounded in both executable transactions and broker-informed forward curves
Comprehensive cross-market risk analysis across environmental and traditional energy exposures
Liquidity-aware trading decisions informed by both exchange activity and OTC market depth

“Environmental markets didn’t lack data, they lacked cohesion,” said Matt Wilcoxson, EVP of Strategic Development, Enverus. “Traders were forced to piece together exchange prices, broker views, and their core positions across multiple systems. MarketView now brings those signals together into a single, trusted view of the market.”

“Xpansiv offers an unmatched source of end-of-day and historical data for environmental and energy commodities, covering both exchange and OTC markets,” said Russell Karas, Senior Vice President, Strategic Market Solutions, Xpansiv. “With Enverus, we’re bringing together spot exchange and OTC data in one place, providing trading, risk, and compliance teams the clarity they need to make faster, more confident decisions grounded in comprehensive market insights.”

CBL is the largest global spot exchange for REC and carbon credit transactions. The venue is integrated with Xpansiv’s comprehensive infrastructure platform and registry network, with a leading position in electricity that covers approximately 30% of global REC issuance, 7% of global renewable electricity generation, and 4% of total global electricity generation.

Its data provides the most authoritative view of executable prices and is a standard reference for mark-to-market valuation, risk modeling, and settlement. Spot market data covering North American and International RECs, carbon credits, Low Carbon Fuel Standard (LCFS) credits and Australian Carbon Credit Units (ACCUs) will be available on MarketView. Historical data for RECs and carbon credits extend back to 2016.

Evolution Markets is a leading intermediary in the energy and environmental commodity markets. It disseminates daily forward market data for a range of carbon, renewable energy, US emissions, natural gas, coal, power, and nuclear markets. Historical data dates back as far as 2000 (coal), 2002 (US emissions), 2006 (nuclear), and 2008 (RECs).

By combining exchange-verified data with OTC market color and the broader energy complex, MarketView gives trading desks a complete and consistent view of price formation across markets that were previously siloed.

Learn more at https://www.enverus.com/products/trading-and-risk-marketview

About Enverus
Enverus is the energy industry’s AI and data platform, serving more than 8,000 energy companies across 50 countries. Built on 25+ years of proprietary intelligence — 2.7 petabytes of continuously updated data, 350 million+ courthouse records, and $500 billion+ in annual transaction covering the full energy value chain across upstream, midstream, power, renewables, utilities, and capital markets. Enverus is 100% dedicated to energy. Learn more at Enverus.com.

About Xpansiv
Xpansiv is the leading infrastructure provider for the energy transition markets. The company’s comprehensive platform includes registries, online marketplaces, market execution services, wholesale power solutions, and market data for energy and environmental commodity markets. Trusted worldwide, Xpansiv helps market participants capture opportunities and drive environmental impact. Xpansiv provides solutions that enable stakeholders to deliver transparent, credible, and auditable environmental claims to address the growing global demand for assurance and accountability on climate action and sustainability performance. Company investors include Blackstone Group, Bank of America, Goldman Sachs, Aramco Ventures, Macquarie Group Ltd., S&P Global Ventures, Aware Super, BP Ventures, Commonwealth Bank, and the Australian Clean Energy Finance Corporation. Learn more at xpansiv.com.

Enverus Intelligence® Research Press Release - Until LNG demand arrives, natural gas expected to struggle at $3

The Week in Energy – May 1, 2026

This week’s energy headlines spotlight major upstream and services consolidation, private-capital rotation in gas infrastructure, accelerating Appalachian momentum, and a long-anticipated LNG milestone. Here are five stories that stood out:

Additional Stories

Also this week: Enterprise sanctioned new Permian processing capacity, NOV posted its weakest quarter since early 2023, hydrogen-capable gas engines cleared a key datacenter power milestone, and power developers reported rising interest in behind-the-meter solutions.

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

Industries

Top Five U.S. Upstream Deals of 1Q26

Key takeaways

Top Stories

Additional Stories

Risk visibility depends on connected workflows

Where fragmentation creates risk blind spots

Why timing matters more in volatile markets

The cost of late risk visibility

What better looks like

Frequently Asked Questions

Why do risk problems often show up late in energy trading organizations?

What kinds of blind spots does workflow fragmentation create?

Why is this problem harder to absorb in today’s markets than it used to be?

What does better risk visibility actually require?

What slow title actually costs a mineral buyer

How the fastest buyers are solving it

The Permian opportunity

The three questions worth asking your team

What you can do now

Research Highlights:

DID YOU KNOW?

Top 3 Takeaways

1. Why did investors reward some hyperscalers and punish others?

2. What does rising hyperscaler CapEx mean for data centers and power markets?

3. What is the emerging constraint on AI growth going forward?

Built for the realities of field work

How LifeSaver will work

A partner-led safety initiative

Pilots planned during 2026, starting in the Bakken

Top Stories

Additional Stories

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