Natural gas storage inventories decreased 115 Bcf for the week ending February 7, according to the EIA’s weekly report. This was more than the expected draw of 110 Bcf. Working gas storage inventories now sit at 2.494 Tcf, which is 601 Bcf above inventories from the same time last year and 215 Bcf above the […]

Austin, TX (February 12, 2020) – Enverus, a leading energy SaaS and data analytics company, announces today that it has acquired RS Energy Group (RSEG), an innovative technology firm focused in the upstream oil & gas industry. The acquisition combines the companies’ complementary strengths to accelerate technology, machine learning and advanced analytics across the energy […]

IN BRIEF Retail giant Amazon has announced the Amazon Wind Farm Texas, a massive farm housing more than 100 turbines that will add 1 million megawatt hours (MWh) of clean energy to the local grid. It is the company’s 18th renewable energy project in the U.S., with 35 more in the planning stages. On Thursday, […]

US crude oil stocks posted an increase of 7.5 MMBbl. Gasoline and distillate inventories decreased 0.1 MMBbl and 2.0 MMBbl respectively. Yesterday afternoon, API reported a crude oil build of 6.0 MMBbl alongside a gasoline build of 1.1 MMBbl and a distillate draw of 2.3 MMBbl. Analysts were expecting a smaller crude oil build of […]

Third-party power forecasts are key when ISOs provide inaccurate load projections.   Power market participants in the PJM, a regional transmission organization covering a large swath of the northeastern U.S., may remember Oct. 1, 2019 for the rest of their careers. PJM power traders that relied on their local ISO for load forecasting began the […]

CRUDE OIL Prompt WTI futures struggled to tread water just above $50/bbl last Friday after Russia said it would need more time to formulate its position vis-à-vis the proposed 600,000 bbl/d of additional OPEC+ production cuts. The coronavirus outbreak in China has led to a major reassessment of global supply/demand fundamentals, with all eyes now […]

Natural gas storage inventories decreased 137 Bcf for the week ending January 31, according to the EIA’s weekly report. This was more than the expected draw of 131 Bcf. Working gas storage inventories now sit at 2.609 Tcf, which is 615 Bcf above inventories from the same time last year and 199 Bcf above the […]

OpenInvoice, an accounts payable solution by Enverus Business Automation, has helped some of the largest oil & gas operators eliminate paper and automate processes, transforming how these companies manage their financial operations. Many large companies achieved nearly total digital transformation, from paper to electronic invoices, with OpenInvoice. While this software has contributed to tremendous cost […]