Enverus Intelligence Analysis (EIR), a subsidiary of Enverus, has launched a listing of “essentially the most prolific 100 non-public oil and fuel producers within the U.S.”.
In response to the record, which the corporate highlighted relies on gross operated manufacturing final yr, Continental Assets was the highest firm, adopted by Ascent Assets, Mewbourne Oil, Aethon Vitality, and Endeavor Vitality.
Continental Assets had a manufacturing price of 591,315 barrels of oil equal per day, whereas Ascent Assets had an output of 423,817 barrels of oil equal per day, and Mewbourne Oil had a manufacturing price of 340,058 barrels of oil equal per day, the record confirmed. Aethon Vitality and Endeavor Vitality had output charges of 335,840 barrels of oil equal per day and 279,764 barrels of oil equal per day, respectively, the record highlighted.
Enverus identified that the record was compiled using Enverus Foundations knowledge and that it was a portion of the latest Upstream Pulse from Enverus, which it describes as a bi-monthly report that covers exploration and manufacturing, offers and capital markets for the North American and world oil and fuel sector.
Continental was a brand new addition to Enverus’ record, and, as such, had no rating for 2021. The corporate went non-public final yr after asserting in June 2022 that its board of administrators had obtained a non-binding proposal letter from Harold G. Hamm, on behalf of himself, the Harold G. Hamm Belief, and sure trusts established for the advantage of Hamm’s relations to amass for money all the excellent shares of frequent inventory of Continental, aside from shares of frequent inventory owned by the Hamm Household and shares of frequent inventory underlying unvested fairness awards issued pursuant to Continental’s long-term incentive plans.
Ascent ranked first in Enverus’ earlier record, whereas Mewbourne was fifth, Aethon was third, and Endeavor was sixth.
“Enverus is uniquely positioned to offer a listing of personal corporations that traders and operators want to concentrate to,” Gibson Scott, head of Intelligence at EIR, stated in an organization assertion.
“Public corporations disclose capital plans and manufacturing volumes in common monetary filings, however non-public operators can fly below the radar. Personal corporations ship a big proportion of home manufacturing and retaining a finger on their pulse may help forecast regional provide/demand imbalances,” he added.
“Data on non-public corporations may be restricted, however not for Enverus. We’ve spent greater than twenty years innovating and growing options to turn into the main energy-specialized expertise associate with unrivalled analytics and community purposes delivered throughout your complete vitality ecosystem,” Scott went on to state.
When requested for touch upon the rating, Continental CEO Doug Lawler instructed Rigzone, “we’ve solely been non-public six months and it could have shocked a number of that weren’t acquainted with Continental’s efficiency and measurement within the non-public area”.
“Our purpose is identical because it’s all the time been – to offer reasonably priced, dependable and clear American vitality,” he added.
Continental introduced in December 2022 that its President and Chief Working Officer Lawler would assume the position of President and Chief Govt Officer. Lawler, who has spent over three a long time within the oil and fuel business and joined Continental in February 2022, transitioned to his newest position at the beginning of this yr following the retirement of William Berry.
“Doug is strictly the suitable individual to encourage our workers and develop our firm and our tradition as we meet the world’s vitality challenges,” Hamm stated in an organization assertion again in December final yr.
“Working as a personal firm unlocks countless potentialities, and I stay up for working with Doug as we fiercely champion American vitality for many years to return,” he added within the assertion.
Rigzone additionally contacted Ascent and Mewbourne for touch upon the rating. On the time of writing, neither firm has but responded to Rigzone’s request.
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