By now, we’re all getting a little GenAI fatigue as the hype surrounding ChatGPT and other chat bots seems relentless. A lot of us feel this way because despite the promising alure of generative AI, the results for energy professionals tend to be underwhelming. That’s because ChatGPT and Microsoft Copilot are a one size fits all approach that lacks deep training in energy industry subject matter. As a result, GenAI users in general and energy professionals in particular often receive hallucinatory ungrounded content from their prompts. Better for ChatGPT to admit it doesn’t know rather than feed us false information.
Earlier this year, Enverus set out to build something different in the market to solve the ungrounded content problem. That is why we recently announced the release of Instant AnalystTM, the culmination of 30 years pioneering AI solutions in energy. Instant AnalystTM delivers two very important benefits: trust and discretion. First, you can confidently act on the answers you receive as our energy specific GenAI solution is trained using a decade of market research and data from the Intelligence Vault. This eliminates the problem of ungrounded content. And second, your proprietary analysis remains a secret as your prompts are secured and anonymous within our platform. Instant AnalystTM creates intelligent connections faster for you, so together we can focus on developing the future of energy.
We recently chatted with Thomas Greene, an Enverus PRISM® and Enverus Intelligence® user who shared his thoughts on the market, AI, and his experience as an early adopter of Instant AnalystTM. As a marketing manager at Tenaris, his role focuses on conceptualizing pricing for oil country tubular goods (OCTG), forecasting U.S. production and analyzing market information. Here’s what Thomas had to say.
Enverus: What’s your role at Tenaris in navigating market complexity?
Thomas Greene: I’ve been working at Tenaris for about five years now. I focus more as an internal consultant, kind of an entry point to the market and to understand where its headed.
Tenaris is a very much data-driven organization. Any sort of decision that’s made is done with countless data behind it to support it. And so my team helps put together a lot of that information to support those decisions.
Enverus: What challenges do you face as a leading provider of steel products to the oilfield?
Thomas Greene: A challenge the industry faces is volatility. From an energy perspective, it’s always been up and down. I think everyone knows that. But sometimes it’s very challenging because you have to right size your business for the market today. And we need to prepare for where the market will be in two or three years.
And it can be very tough, especially when you have events such as COVID, these black swan events that no one can see coming but drastically reshape our industry. It also becomes really challenging because not only do you have to worry about the energy side of it, but you also have to think about all the different regulations that the government can put on different companies. One decision can drastically change, the outlook and the way you want to supply and run your business.
Enverus: Describe your market research workflow using Enverus products.
Thomas Greene: I use Market Intelligence, on a daily basis. So I go to there any time I see a report that’s talking about natural gas, and service prices. I’ll go read through those reports to understand what’s happening in the market.
In my previous workflow, I’ll see an email in my inbox saying there’s a report in about the Permian and I’ll read it. But normally what ends up happening is you forget a lot of that information because there’s just so much of it that’s available.
Enverus: How is the Enverus Instant AnalystTM going to make your workflow more efficient?
Thomas Greene: Humans can summarize things very well, but it takes time. I can put it together in an instant, and that’s incredibly powerful. It generates the exact response I’m looking for and references the specific Intelligence report.
It’s very clear that there’s so many positives with a tool like this where it’s utilizing all of the research you already put together and prepare.
Enverus: Can you describe an example of macro analysis where Instant AnalystTM really shined?
Thomas Greene: So very broadly, I asked Instant AnalystTM, “Tell me what’s going to happen to natural gas in the future and where do we expect prices to be in the future?” and it pops out many reports where it’s summarizing a lot of the key, bits of information that I’d be looking for.
Other examples are, what does it mean for LNG? What does it mean for the supply growth? What regions could some of that potential growth come from? Where do you see, takeaway capacity coming online would alleviate some of these bottlenecks? For me it summarizes it all right away. These are key points that I’m familiar with and I keep track of, but to have it all in one place immediately available is very impactful.
Enverus: What sets Instant AnalystTM, apart from other GenAI technologies?
Thomas Greene: Instant AnalystTM is set apart from other generative AI because of the source material that is behind Enverus. You’ve got 10 plus years of market intelligence that you’re pulling from, which is not something you’re going to get when you’re leveraging ChatGPT or Copilot.
I would recommend any energy professional to use Instant AnalystTM and to give it a try because it makes your job much easier and allows you to do the work that you do every day faster. And for me, that’s all I’m looking for in a tool like Enverus.
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Enverus: Where does GenAI need to improve to further accelerate your market analysis?
Thomas Greene: I think probably the next step that I would hope to see with generative AI as it relates to Enverus is I would love it to answer the questions that I don’t have yet. So to be able to understand perhaps by some of my prompts, that I’m feeding it what information I’m interested in, and then to connect the dots and to pull up more information or to show something that I’m not even looking for in the first place.
I think there’s huge potential within PRISM and within some of the other tools you already have to further improve what generative AI can do as well.
Enverus: What are your thoughts on the explosive growth of artificial intelligence?
Thomas Greene: AI is going to be revolutionary. But perhaps my initial thought is it’ll be something similar to what happened with the internet. You have many companies that have survived, adapted and thrived in this new world, but it was a huge technological shift that structurally changed companies. And you’ll see that with AI, not just general AI, but there’s many uses and cases that we don’t even know today that I think it can answer in the future.
Watch a snippet of our interview with Tomas Greene below at the 2024 EVOLVE Conference.
We’d like to express a big thank you to Thomas Greene from Tenaris for sharing his perspective and experiences using the energy industry’s only GenAI solution, Instant AnalystTM, that is built on the breadth and depth of Enverus Intelligence® Research and public disclosures spanning a decade. Early adopters like Tenaris are truly gaining a competitive advantage.
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About Enverus Intelligence®| Research
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations, and macro-economic forecasts and helps make intelligent connections for energy industry participants, service companies, and capital providers worldwide. See additional disclosures here.
