In a launch despatched to Rigzone this week, Enverus introduced that it has launched its annual checklist of “essentially the most prolific 100 personal oil and gasoline producers in the USA”.
The whole checklist, which is titled High 100 Personal Decrease 48 Producers of 2024 and was accessed by Rigzone, positioned Continental Assets in first place, Mewbourne Oil in second, Aethon Power in third, Ascent Assets LLC in fourth, and Hilcorp in fifth. Enverus identified in its launch that the rating is predicated on gross operated manufacturing, properly depend, and rig actions throughout final yr.
Continental Assets produced 639,733 barrels of oil equal per day (boepd) in 2024, and had a properly depend of 5,055 and 21 energetic rigs, the whole checklist revealed. Mewbourne Oil produced 469,624 barrels of oil equal per day, and had a properly depend of three,632 and 23 energetic rigs, and Aethon Power produced 436,534 barrels of oil equal per day, and had a properly depend of 1,981 and 6 energetic rigs, the checklist confirmed.
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Ascent Assets LLC had an output of 424,955 barrels of oil equal per day, a properly depend of 915, and two energetic rigs, and Hilcorp produced 296,552 barrels of oil equal per day, and had a properly depend of twenty-two,642 and one energetic rig, in keeping with the checklist.
In 2023, Continental Assets ranked first, Mewbourne Oil was fourth, Aethon Power was third, Ascent Assets LLC was second, and Hilcorp was sixth, the checklist highlighted.
“Continental Assets continues to dominate the rating as the highest place, however this yr Mewbourne Oil leapfrogged from fourth to second and Aethon Power stays within the third place,” Enverus acknowledged in its launch.
Within the launch, Shawn Stuart, Principal Analyst at Enverus, stated, “this yr’s high 100 checklist displays a personal operator panorama that’s been formed by the drastic consolidation of operators over the past two years”.
“The remaining privates are extra geographically various than ever earlier than, and new entrants are having to be opportunistic on acquisitions as core performs consolidate,” he added.
“Personal capital is shifting to legacy basins, testing new zones, and leaning into gasoline performs that have been as soon as ignored. We’re seeing a return to the Permian’s edges, a push into underneath the radar performs just like the SCOOP / STACK, and a renewed deal with innovation – from longer laterals to refracs,” he continued.
“A macro setting has created near-term headwinds for personal corporations to develop, however as soon as issues stabilize there’s important personal capital that has been raised and is able to hunt for brand new alternatives,” he went on to notice.
That would come from shopping for longer-dated, production-heavy property from different personal corporations, pivoting to gasoline, or focusing outdoors of the Permian, in areas such because the Mid-Continent which are ripe for non-core gross sales by public operators, Stuart acknowledged within the launch.
“The highest 100 checklist exhibits how personal operators proceed to evolve with the trade maturing,” he added.
In its launch, Enverus highlighted that the checklist was compiled using information from its Foundations and Exercise Analytics. In a press release despatched to Rigzone, an Enverus spokesperson highlighted that this yr’s checklist options eight new entrants.
Rigzone has contacted Continental Assets, Mewbourne Oil, Aethon Power, Ascent Assets LLC, Hilcorp, and the American Petroleum Institute for touch upon Enverus’ checklist and launch. On the time of writing, not one of the above have responded to Rigzone.
Enverus describes itself as essentially the most trusted energy-dedicated SaaS firm, “with a platform constructed to maximise worth from generative AI, providing anytime, anyplace entry to analytics and insights”.
“These embody benchmark price and income information sourced from greater than 95 % of U.S. power producers and greater than 40,000 suppliers,” the corporate states.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
