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Enverus Releases Top 50 Public E&P Operators of 2024

Enverus, recognized as a leading energy-focused SaaS company, has unveiled its list of the top 50 public oil and gas operators in the United States for the year 2024. This list is particularly noteworthy as it reflects significant changes in the industry, particularly driven by mergers and operational efficiencies. According to Enverus, the list was generated using data from the Enverus Foundations® platform, marking a critical moment for stakeholders in the energy sector.

Key Insights from the List

The shifts in rankings are influenced heavily by industry consolidation, with major players like Pioneer Natural Resources merging with ExxonMobil and the amalgamation of Chesapeake and Southwestern into a new entity, Expand Energy. These developments have resulted in the top ten public operators now accounting for 62% of the total production, an increase from 56% the previous year.

"It is evident that the Permian Basin remains the dominant force in the oil and gas sector, with most of the top operators concentrating their efforts there. Seven out of the ten leading companies have identified the Permian as their most active area, contributing to an overwhelming percentage of overall output," stated Manuj Nikhanj, CEO of Enverus.

In fact, the statistics are staggering: 81% of oil and 40% of gas production from the top 50 companies are derived from the Permian Basin alone. This highlights not only the strategic importance of this region but also its role in shaping industry trends and production efficiencies.

Current Rig Count and Efficiency

In addition to examining production trends, Enverus assessed rig counts among the top operators. The latest data revealed that these companies were operating a total of 298 rigs, down from 322 the previous year. However, an increase of approximately 10% in rig efficiency suggests that companies can sustain production growth despite lower overall activity levels. This trend exemplifies the industry's ability to adapt and optimize resources.

Methodology of the Rankings

The comprehensive list takes into account all gross operated production from assets and companies that were acquired by October 1, 2024. The production data reflects changes from what Enverus categorizes as organic growth. Importantly, all variations in rankings stem from the operational performance of assets post-merger activity, providing an accurate snapshot of current industry standings.

To further inform stakeholders, the list includes detailed breakdowns of production volumes, well counts, and recent changes in rig activities. This information is essential for understanding not only market dynamics but also future investment strategies within the oil and gas landscape.

Enverus continues to serve as a critical resource for businesses operating in this space, offering profound insights and analytics that support better decision-making. With a robust network of data sourced from over 95% of U.S. energy producers and extensive supplier information, Enverus remains a cornerstone in the energy sector, promoting informed exploration and operational practices.

For those seeking more information, the full list of the top public operators is available through Enverus's Upstream Pulse report, a bi-monthly publication that offers comprehensive updates on exploration, production, and capital markets in North America and beyond.

By adapting to the ever-changing landscape while maintaining operational excellence, the companies featured in this list set the stage for the future of oil and gas production. This year’s rankings provide a pivotal reference point for investors, analysts, and policymakers alike, illustrating the ongoing evolution of the energy sector in response to market conditions and technological advancements.

Conclusion

Enverus's Top 50 list for 2024 not only highlights the current leaders in the industry but also captures the ongoing transformations brought about by mergers, efficiencies, and regional dominance. As the sector continues to evolve, tracking these changes will be crucial for anyone vested in the future of energy.