Drilling Into Tomorrow: Inventory Quality Influencing Capital Efficiency and A&D
Undeveloped inventory is the cornerstone of the future of shale E&Ps’ future. It’s the key driver of sustainable long-term cash flows, valuations, and A&D strategies.
For Equinor in the U.S., lithium door opens after another closes
Equinor is acquiring 45% stakes in two of Standard Lithium’s direct lithium extraction (DLE) projects in the Smackover Formation in Southwest Arkansas and East Texas, less than a month after closing the book on its U.S. onshore shale operatorship.
Offshore wind has taken a beating in U.S. Can it come back?
In March 2021, the Biden administration set a goal of deploying 30 GW of offshore wind capacity in the U.S. by 2030. These efforts have faced significant growing pains.
Broad Reach, Longroad & Arevon climb gigawatt rankings
U.S. renewables developers Arevon Energy, Longroad Energy Holdings and Broad Reach Power showed the most improvement among the top 20 wholly owned renewable energy portfolios under construction in Q1, according to an analysis using Enverus Core data presented in the most recent issue of Energy Transition Pulse.
No, Global Oil Demand Will Not Peak by 2030.
Enverus Intelligence® Research holds the position that global oil demand will not peak or decline before the end of this decade. EIR’s analysis offers a distinct and unbiased viewpoint, diverging from the two benchmarks forecasters; OPEC and the International Energy Agency (IEA).
Mewbourne-led Cleveland activity jump bucks Anadarko trend
E&P activity targeting the Cleveland formation in the Anadarko Basin more than doubled in 2023 with 46 new wells reaching first production, compared to 20 in 2022 and similar levels the previous two years.
SLB taking home the prize in $8.2B ChampionX acquisition
In the biggest oilfield services transaction since 2016, SLB agreed to acquire ChampionX Corp. for $7.76 billion in stock, bringing an industry leader in production chemicals into the OFS giant’s fold. ChampionX’s $420 million in net debt brings the transaction to an $8.18 billion enterprise value.
Gas players approach weak pricing with operational flexibility
Natural gas prices are setting up E&P companies operating in gas plays for a challenging 2024, maybe more challenging than they expected. On March 20, the 12-month strip settled at $2.71/MMBtu, down from more than $3.00/MMBtu when the year started, and the front-month settled at $1.70/MMBtu. The warm winter and growing associated gas production have pushed gas storage volumes 41% above the five-year average and 21% higher than this time last year, at 2.33 Tcf as of March 15.
U.S. rig day rates slip as January hopes turn to February blues
Day rates in the U.S. can’t seem to make up their mind, and neither can drilling contractors. All of the Enverus Day Rate Survey’s seven regions saw rig rates decline sequentially in February, for the first time since October.
Eagle Ford children are standing on their parents’ shoulders
Operators across the Lower 48 continue to deploy innovative redevelopment techniques to increase their production to stifle the decrease in high-graded new drill inventory.