In a launch despatched to Rigzone not too long ago, Enverus introduced that it has launched its annual checklist of “probably the most prolific 100 personal oil and fuel producers in america”.
In accordance with the entire checklist, which was accessed by Rigzone, Continental Assets was ranked first, adopted by Ascent Assets LLC, Aethon Power, Mewbourne Oil, and Endeavor Power. Enverus highlighted in its launch that the rating is predicated on gross operated manufacturing, properly depend, and rig actions throughout 2023.
Continental Assets produced 690,299 barrels of oil equal per day (boepd) final yr, with a 49 p.c oil weighting, and had a properly depend of 5,102, the entire checklist revealed. Ascent Assets produced 424,689 boepd, with a 5 p.c oil weighting, and had a properly depend of 862, Aethon Power produced 420,857 boepd, with a zero p.c oil weighting, and had a properly depend of 1,899, and Mewbourne Oil produced 408,754 boepd, with 59 p.c oil weighting, and had a properly depend of three,310, the rating confirmed.
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Rounding out the highest 5, Endeavor Power produced 336,561 boepd, with a 65 p.c oil weighting, and had a properly depend of three,372, based on the checklist.
In 2022, Continental ranked first, Ascent was second, Aethon was fourth, Mewbourne was third, and Endeavor was fifth, the checklist highlighted.
“Merger and acquisition exercise, significantly these involving public consumers and personal sellers throughout 2023, have reshuffled our rankings,” Justin Lepore, a lead guide at Enverus and supervisor of the corporate’s prime 100 personal operators checklist, mentioned in Enverus’ launch.
“Stock depend and high quality has additionally considerably pushed personal operator valuations, and in lots of circumstances, there was a objective of rising manufacturing to grow to be extra engaging to takeout targets,” he added.
Lepore highlighted within the launch that there are regional shifts too.
“In Appalachia, the acquisition of Rockcliff Power by TG Pure Assets mixed their positions into one, creating area for a brand new entrant onto our checklist,” he mentioned.
“Chesapeake’s asset gross sales within the Gulf Coast led to Wildfire and Ineos Power becoming a member of the checklist this yr as properly. Within the Bakken, asset gross sales by Ovintiv and Crescent Level resulted in important upward strikes for Grayson Mills and Kraken, whereas a Permian acquisition by VTX Power and the entry of public-Civitas into the Permian reshuffled the checklist, with Faucet Rock property transferring down and Hibernia being eliminated,” he added.
“General, it is perhaps Rockies-weighted operators who noticed the most important shift as they now make up a lesser proportion of the highest 20 names on the checklist, with new additions from Permian and Mid-con operators filling that hole,” Lepore continued.
Within the launch, the Enverus consultant highlighted that the checklist “additionally reveals the contribution from personal operators, which accounted for roughly 36 p.c of Decrease-48 oil manufacturing in 2023, with round 70 p.c of this quantity coming from the highest 100 on the checklist”.
“Manufacturing is more and more held by giant, public operators,” Lepore added.
Rigzone has contacted Continental Assets, Ascent Assets, and Aethon Power for touch upon their rankings. On the time of writing, not one of the corporations have responded to Rigzone but.
Enverus’ launch famous that the checklist was compiled using knowledge from Enverus Foundations and Exercise Analytics. It additionally identified that the checklist was featured within the firm’s bi-monthly report that covers exploration and manufacturing, offers and capital markets for the North American and world oil and fuel sector.
Earlier this yr, Enverus launched a listing of the highest public Decrease 48 producers of the primary half of 2023. In accordance with that checklist, which was seen by Rigzone, ExxonMobil ranked first with 1.16 million barrels of oil equal per day, adopted by Chesapeake Power, with 1.13 million barrels of oil equal per day, and EOG Assets, with 1.10 million barrels of oil equal per day.
To contact the creator, e mail andreas.exarheas@rigzone.com
