Enverus releases its 2024 Outlook

Series of reports focus on the shifting dynamics of oil and gas, energy transition and geopolitics

AUSTIN, Texas, Jan. 9, 2024 /PRNewswire/ -- Enverus, the most trusted energy-dedicated SaaS company, has released its 2024 Outlook that includes a series of reports discussing topics the organization believes will shape the energy sector this year.

With a tumultuous year behind us marked by escalating inflation and interest rates, the challenge of navigating the Inflation Reduction Act, and the outbreak of multiple wars, the energy industry is grappling with an atmosphere of deep uncertainty. Enverus has compiled these insights from its intelligence research division into one encompassing 2024 Outlook that includes Enverus Intelligence Research's (EIR) key energy trends to watch.

"In 2024 we expect relative strength in oil versus natural gas prices as OPEC+ remains in the driver's seat and North American producers reckon with another year without material LNG export capacity growth," said Dane Gregoris, managing director at EIR. "Given our rangebound outlook for commodity prices, we expect slowing U.S. supply growth and declining well costs per lateral foot, driven by ever increasing lateral lengths. Producers will remain laser focused on improving capital efficiency and adding low-cost drilling inventory through mergers and acquisitions, and stratigraphic exploration primarily within the Permian basin."

"While interest rates, inflation and supply chain woes in 2023 saw returns erode away in the energy transition market, 2024 is setting up to be a year of action," said Morgan Kwan, director at EIR. "Improving inflation and interest rates present compelling buying opportunities in some energy transition sectors, like residential solar. Increased policy clarity should support execution of a handful of energy transition technologies, like direct lithium extraction and geothermal to lead in the commercialization horse-race."

"While emissions reporting and management may have been a forced entry into the energy transition for many molecules-led energy companies, it's the stacking of technologies where oil and gas companies are finding success when building their businesses for the future," Kwan said.

In its Outlook, EIR uses a holistic approach to energy research through comprehensive analysis of the oil and gas industry, energy transition and capital markets which provides readers with a unique view on what to expect concerning oil and gas, the energy transition underway and impacts from geopolitical actions. The EIR team is comprised of experts with diverse backgrounds beyond just finance, including engineering, geology and data science, and frequently engages in discussions with significant stakeholders throughout the broad energy sector.

View the full release and list of predictions and forecasts affecting oil, natural gas, and the energy transition. 

About Enverus
Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing; and our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.

SOURCE Enverus