AUSTIN, Texas (May 15, 2024) — Following its EVOLVE 2024 conference, Enverus, the leading generative AI and energy-dedicated SaaS company, announced that it was releasing complimentary access to its new Enverus Instant Analyst™ technology to its Oil & Gas Research (OGR) and Energy Transition Research (ETR) customers who were in attendance. These 750 users now join an exclusive group of early adopters and will be able to find concise answers quickly across tens of thousands of documents inside the Enverus Intelligence® Vault.
At the event, Chief Innovation Officer Colin Westmoreland explained how current OGR and ETR subscribers can now simply log in with their credentials where the tool was waiting.
“High quality data and intelligence is core to our DNA,” Westmoreland stated while on stage before the crowd, “but we need to move beyond ‘just’ better, faster decisions. Searching, sourcing and citing the research behind an answer is now available to these users in a matter of seconds,” he said. Personalized demonstrations were also available in the conference Solution Center, along with staff to answer questions.
Customers in attendance immediately got behind the idea.
“I think AI is going to be revolutionary,” said Thomas Greene, marketing manager at Tenaris and current customer of Enverus Intelligence® Research. “As an early user, I think Instant Analyst is set apart from other generative AI because of the source material that is behind it. With Enverus, you’ve got 30+ years of market intelligence that you’re pulling from, which is not something you’re going to be getting when you’re referencing ChatGPT or Copilot. I would recommend any energy professional use Enverus and Instant Analyst and give it a try because it makes your job much easier and allows you to do the work that you do every day, faster.”
“Enverus provides valuable tools, especially for our business development group,” added Mary Frances Deibert, vice president of Marketing and Sustainability at Ironwood Midstream Energy Partners. “Enverus does a great job of pulling together information about producers, and producers are our customer base. We gain a competitive edge when our team can access data and parse it in a way that makes sense for our company. The data is the data, but the way Enverus provides access lets us pull data together so that fits into our business like a little puzzle piece. We employ the data to create opportunities, adding real value to our business.” Neither Tenaris, Ironwood Midstream Energy Partners, or their employees were compensated for their statements.
Learning & Development (L&D) training courses were also offered during EVOLVE. The L&D program is aimed at helping energy professionals enhance their skillsets around data-focused job functions that improve career growth opportunities. Opportunities ranged from becoming an Enverus Certified Specialist in Energy Analytics and Benchmarking to Enverus Certified Professional in Advanced Analytics and Asset Optimization.
“As an industry, we all have an inspiring mission to power the global quality of life for the 8 billion people on our planet,” shared Manuj Nikhanj, president of Enverus, during his conference remarks. “Energy — an already complex connected ecosystem — is only getting more challenging to navigate. The total demand for energy is only increasing through time and a strong network of connections and support is needed to maintain a resilient and reliable energy systems. If one piece of that network fails, it’s not just a ripple effect, it can be felt like a tsunami. That’s why we engage in dialogue with our customers to meet their needs before their challenges arrive. Together with them, we are creating the future of energy together.”
EVOLVE 2024 Takeaways
Macro & Markets:
- At bottom on gas prices
- Bullish oil prices
- Canadian companies offer compelling equity investment opportunities
- Few remaining private company acquisition opportunities
- Public M&A focused on companies trading near production value with ~5 years of inventory
- Methane reporting and fees introduce material financial and counterparty risk
Asset Optimization:
- More than half of planned ERCOT solar projects are sited sub-optimally
- Longer laterals significantly improve economic returns
- Four major U.S. basins are over 45% developed
- Extended reach laterals allow operators to develop stranded or sub-economic resource
- Only 25% of solar and wind projects in Texas are likely to get developed
- Incremental wells in the Permian recover 1-1.5 Mbbl/1,000’ less
Carbon Innovation:
- Pneumatic controller swaps address low-hanging emissions in the Permian
- Demand for CO2 in the Permian, mostly for EOR, could outpace supply by 2028
- Permian operators are most exposed to increased methane leak visibility
- Subsidies enable blue hydrogen to compete with grey
Electrification:
- Solar projects in high load areas have the highest chance of success
- ERCOT storage projects offer significant revenue and profitability opportunities
- Over 60% of Permian gas compression will be electrified by 2040 – if adequate generation is built
- Tripling storage capacity in ERCOT, to 12 MWh by 2026, will pressure ancillary returns
About Enverus
Enverus is the most trusted, generative AI and energy-dedicated SaaS company, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing; and our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.
