In a press release despatched to Rigzone just lately, Enverus introduced that it has launched an inventory of the 50 “most prolific … public oil and gasoline operators within the U.S. based mostly on gross operated manufacturing final yr”.
In response to the record, which was seen by Rigzone, in 1H24, ExxonMobil ranked first with 1.96 million barrels of oil equal per day, adopted by Increase Power, with 1.69 million barrels of oil equal per day, and Occidental Petroleum, with 1.22 million barrels of oil equal per day.
EOG Assets was ranked fourth, with 1.18 million barrels of oil equal per day, and Devon Power got here in fifth, with 979,550 barrels of oil equal per day, the record confirmed.
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ExxonMobil’s manufacturing had an oil weighting of 53 p.c and its energetic rig depend got here in at 19, in line with Enverus’ record, which highlighted that the corporate ranked first in 2023. Increase Power’s manufacturing had an oil weighting of 1 p.c and its energetic rig depend got here in at 10, the record highlighted. The corporate is a brand new addition to the rankings, the record identified.
By way of oil weighted manufacturing, Occidental Petroleum got here in at 58 p.c, EOG Assets got here in at 56 p.c, and Devon Power got here in at 57 p.c, the record revealed. By way of energetic rig depend, Occidental Petroleum had 27, EOG Assets had 5, and Devon Power had 26, the record confirmed. Occidental Petroleum ranked fifth in final yr’s record, EOG Assets was third, and Devon Power was ninth, Enverus’ record highlighted.
Enverus’ record famous that corporations had been ranked by common gross operated manufacturing from onshore wells within the Decrease 48 states.
“Manufacturing and rating for each 1H24 and 2023 embody all gross operated manufacturing from property and firms acquired as much as and together with 10/10/24 as accounted for in Enverus’ platform; in consequence, all adjustments in rankings are based mostly on natural manufacturing adjustments on the post-transacted property,” the record said.
“Oil manufacturing consists of condensate … Rig numbers are as of 10/10/24. Numbers are topic to vary due to lags in reporting,” it added.
Within the assertion despatched to Rigzone, Enverus CEO Manuj Nikhanj stated, “final yr, the highest 10 public operators represented 56 p.c of manufacturing out of the highest 50 on a barrel of oil equal per day foundation”.
“On account of mergers, we see that very same determine soar to 62 p.c of manufacturing partly on account of Pioneer Pure Assets becoming a member of ExxonMobil, and Chesapeake and Southwestern rolling collectively into the newly fashioned Increase Power,” Nikhanj added.
“It’s clear that the Permian remains to be the king, and probably the most energetic area operated by the highest 50 operators. Seven of the highest 10 have the Permian as their most energetic area,” Nikhanj continued.
“Quantity-wise, the Permian additionally dominates the rankings – 81 p.c of oil manufacturing and 40 p.c of gasoline manufacturing from the highest 50 names comes from this one basin,” Nikhanj continued.
The Enverus CEO went on to notice within the assertion that “the highest 50 names had been working a complete of 298 rigs on the time of record compilation, in comparison with 322 from the prior yr at an identical cut-off date”.
“However the pull again, the roughly 10 p.c enhance in rig effectivity over this era is driving manufacturing development, even at decrease exercise ranges,” Nikhanj added.
Rigzone contacted ExxonMobil, Increase Power, Occidental Petroleum, EOG Assets, and Devon Power for touch upon the Enverus record and assertion. Occidental declined to remark. The opposite corporations haven’t but responded to Rigzone on the time of writing.
To contact the creator, e mail andreas.exarheas@rigzone.com
