Enverus Intelligence

Libya extends its ambitions with a new licensing round being touted whilst Chevron signs an MoU that further promotes unconventionals in the region. Sheikh-Imran Azim-Rahman also speculates with host Bruce Walker whether UAE's exit from OPEC could provide North Africa with a strengthened hand in the oil cartel.

Against a backdrop of booming exploration interest in Africa, SSA Regional Manager Jimmy Boulter, Senior Regional Analyst Archie Rowland, and host Patrick Rutty talk about Murphy Oil and Octavia Energy success in Cameroon’s recent bid round; Marginal Energy and Shell moves into Sierra Leone; and Petrobras gaining operatorship in São Tomé and Príncipe by farming into Atlas Oranto acreage. The trio then discuss a flurry of activity in Gabon – ExxonMobil and BP still in the mix, Block Energy and Pilgrim Exploration teaming up, and Trafigura’s billion-dollar pre-payment deal – before finishing with a quick mention of BP’s Namibia entry.

Europe Regional Manager Anne Jones and host Patrick Rutty have a short chat about Vermilion Energy’s portfolio rationalization and Germany-Netherlands focus on the news of its exit from a Croatian PSA. They then discuss what impact OMV Petrom’s two Bulgarian Black Sea dry holes have on further exploration drilling in the region (spoiler alert: none) before finishing with some speculation as to who will finally acquire Deltic Energy.

Tensions at the Strait of Hormuz, one of the world's most critical oil shipping routes, have sent global energy markets into a tailspin. In this episode, host Gibson Scott sits down with Al Salazar, Head of Macro Research, to break down what's actually happening, what the markets are getting wrong, and what comes next. When threats to close it surface, the entire global energy market feels it. Gibson and Al unpack the chaotic weekend of conflicting statements, military movements, and price swings, and explain why traders are increasingly tuning out the headlines and watching the ships instead. They cover what oil prices could look like if the disruption drags on, why equity markets seem to be brushing off the risk, and how the natural gas story might actually be the bigger long-term concern. They also explore a provocative idea: that this conflict could be doing more to accelerate the global energy transition than a decade of climate policy.

Host Patrick Rutty connects with Shankar Krishnan and Chester Chua to have a look at Pakistan and New Zealand exploration activity, take note of modernized pipeline legislation in Australia’s Northern Territory, and talk about new Eni-Petronas JV SEARAH as well as Eni’s $15 billion in Kutei Basin gas FIDs.

Following publication of the South America Upstream Fundamentals report, Arthur Keep joins host Bruce Walker to discuss the region's continued success in bringing resources to market, most notably Brazil and Guyana, and highlights the emergence of Uruguay as an exploration hotspot. The full report is available exclusively to Enverus Intelligence® Global Research subscribers at https://intelligence.enverus.com/research/182886

Dane Gregoris and Al Salazar return to unpack the latest twist in the Hormuz Energy Crisis: a ceasefire announcement that the market celebrated prematurely. While equity markets rallied, oil prices told a different story, and Dane and Al dig into why. The conversation looks past the headlines to examine what's happening at the physical level, where flow disruptions through the Strait of Hormuz remain largely unresolved, ships are moving under Iranian-imposed toll conditions, and a strike on a major Gulf facility the morning of recording suggests the situation is still evolving. The broader discussion weighs whether financial markets are correctly looking past the crisis, or simply waiting for North American supply tightness to bring the picture into focus. Dane and Al walk through bull and bear scenarios, the structural constraints facing OPEC spare capacity, and why EIR is holding its counter-consensus price forecast of $95/bbl Brent for the rest of 2026 and $100/bbl for 2027, even after a significant single-day selloff.

Host Patrick Rutty, EMEA Senior Regional Manager Tom Richards, and Senior Analyst Sheik-Imran Azim Rahman discuss the latest developments in Libya – including continued Shell-AGOCO discussions and Eni’s latest big discovery – express skepticism about the viability of Egypt importing large quantities of Libyan oil by truck, register surprise at the sudden Malta block awards and note Hunt Oil’s pronouncement of interest in Syria.

SSA Regional Manager Jimmy Boulter and host Patrick Rutty try to make sense of Liberia’s offshore block negotiations with six junior Nigerian and U.S. companies, take note of Etu’s creatively-funded pre-emption of Maurel et Prom and BW Energy’s attempt to acquire Angola assets, and speculate as to the ultimate outcome of Afentra’s current “strategic review” and potential full sale.

It has now been five weeks since the outbreak of the war in Iran. Amid the surge of market commentary, analysis and forecasting surrounding the Hormuz Energy Crisis, EIR is offering its differentiated perspective. Dane Gregoris, Head of Oil & Gas Research, and Al Salazar, Head of Macro Research, walk through EIR’s revised price outlook, which now anticipates Brent averaging $95/bbl for the remainder of 2026 and $100/bbl for 2027. They also assess how ongoing flow disruptions are drawing down inventories, leaving global stocks depleted and potentially setting the stage for a lengthy and costly rebalancing period. The discussion highlights several critical assumptions, including sensitivities tied to the duration of the conflict, the anticipated muted response from U.S. shale, and the equity market’s caution in pricing a rapidly shifting commodity environment. They also explore the significant, yet often overlooked shock to global gas markets amid the broader turmoil. Just as importantly, the two share key client feedback and broader sentiment on how the energy landscape may evolve once the fog of war eventually lifts.  

In this episode, Graham is joined by Matt Toews, Chief Technology Officer at Eavor, to examine how engineered geothermal systems could unlock scalable, low-carbon baseload power and why closed-loop technology is changing how geothermal is built, financed and deployed. This episode was recorded on January 29th, 2026.

Europe Regional Manager Anne Jones, EMEA Sr. Regional Manager Tom Richards and host Patrick Rutty ponder the lengthy work commitment timelines on CVX’s newly awarded deepwater Greece blocks, rejoice in the imminent development of Adura’s West of Shetland Rosebank field and make note of independent MAU’s 2H26 plans to explore onshore Italy – only the country’s second exploration well since 2017.

In this episode, we welcome Alex Wylie, founding president and CEO of LibertyStream, to unpack how the company is reimagining lithium production by tapping into the oilfield’s existing saltwater disposal network. With active production underway in the Permian and development expanding into the Bakken, LibertyStream offers a real-world look at how direct lithium extraction (DLE) can scale faster and cheaper by building on infrastructure that already exists. This episode was recorded December 18th, 2025.

Senior Regional Manager Chester Chua talks about the nascent shale gas sector in Australia with host Bruce Walker, highlighting Beetaloo Energy and Tamboran Resources imminent launch of gas production and Santos' ongoing exploring activity. Chester also points out the increasing role of American service providers and looks at how the play could evolve, from a Northern Territories-focussed energy provider, to a source for the national market, and potentially even deliver global export capacity.

In this episode, we’re joined by Mark Cyffka, co-founder and COO of AirMyne, a company applying industrial thinking to the challenge of direct air capture. Mark draws on deep experience in chemistry, large-scale manufacturing and process operations to design DAC systems that prioritize simplicity, durability and real-world uptime. Graham and Mark will explore how AirMyne approaches system design, energy pairing, cost reduction and market positioning — and what it will take for DAC to scale into a meaningful part of the carbon removal landscape. This episode was recorded December 3rd, 2025.

In this month’s episode of the Enverus Intelligence podcast, Gibson Scott sits down with Al Salazar and Josephine Mills to unpack a rapidly shifting energy landscape. What began as a discussion around our latest Fundamental Edge report, Surplus to Scarcity: Our View to 2035, quickly expanded to include the market implications of U.S. strikes on Iran and the shutdown of Qatari LNG exports.  The team breaks down what was already tightening in oil markets before geopolitics escalated, how much of today’s crude price reflects a true geopolitical premium, and what a prolonged Strait of Hormuz disruption would mean for global inventories. They also examine the far-reaching consequences of Qatar’s LNG outage, the limits of short-run supply elasticity in global gas markets and where U.S. and Canadian exporters could benefit. From structural underinvestment and long-term oil deficits to near-term LNG volatility and Henry Hub upside risk, this episode connects the macro fundamentals with today’s geopolitical shocks and explains what may matter most for prices from here.

Host Patrick Rutty and guests Tommy Liskey and Arthur Keep examine Karoon’s path to E&P relevance in Brazil and beyond and then spotlight its search for a partner for an upcoming exploration campaign. They then discuss why the outcome of the GeoPark-Parex tussle over Frontera’s Colombia assets may have hidden implications for Colombia E&P before finishing up with the Dominican Republic’s new bid round.

In this episode, Enverus is joined by CRA President Cole Patchell to explore how corrosion-resistant alloys enable long-life oilfield, CCUS and geothermal wells. This episode was recorded November 10th, 2025.

Host Patrick Rutty and EMEA Senior Regional Manager Tom Richards parse Chevron’s newly announced Iraq preliminary agreements in the context of the company’s R/P challenges and historic Iraq contract terms, then turn to possible U.S.–Iran scenarios and what they could mean for supermajors’ presence in the region.

In this episode, we welcome Morten Stahl, founding partner at Natural Hydrogen Ventures. Natural Hydrogen Ventures is one of the first venture firms dedicated exclusively to natural (subsurface) hydrogen, investing across geology, enabling software, transport and emerging production technologies. This episode was recorded on October 6th, 2025.

SSA Regional Manager Jimmy Boulter and podcast newbie Sr. Regional Analyst Archie Rowland join host Patrick Rutty to discuss the significance of Azule’s latest ILX hit in Angola and Eni’s successful Murene-1X in Côte d’Ivoire, compare the PSC terms on TTE's and Atlas Oranto's newly awarded deepwater Liberia blocks, make quick notice of TTE and PBR farming into the Luderitz Basin, and speculate about TPAO’s invitation for someone to join them offshore Somalia.

Europe Regional Manager Anne Jones and host Patrick Rutty first discuss the Vinekhh-1 Bulgarian Black Sea dry hole and whether it casts a shadow over the remaining exploration portfolio in the region. We then touch on 80 Mile’s plans to test Jameson Land Basin prospects in the second half of 2026 before finishing with a little spotlight on the potential development of Norway’s largest undeveloped gas field, Linnorm – named after the mythical serpent-dragon (attention all you Ragnarok fans!).

In our newest edition, host Gibson Scott, Head of Intelligence at Enverus, reunites with Director of Macro Research Al Salazar and Senior Analyst Josie Mills to unpack the latest Fundamental Edge report and examine the shifting forces transforming global oil and gas markets.   What you’ll learn: How temporary supply disruptions and increased Iranian risk are supporting oil prices. Why sustained price premiums may delay the market rebalancing that is needed to draw down inventories and create the foundation for a more durable price recovery. What to expect as disrupted barrels return to the market, including the likelihood of renewed stock builds and a forward curve that shifts into contango. In natural gas, why near‑term demand was already soft even before recent winter storms, particularly within the power sector. How this weaker demand profile creates downside risk for the summer natural gas price outlook.

Senior Analyst Sheikh-Imran Azim-Rahman rounds up Libya's first tender in nearly two decades, featuring seven blocks across five awards. Director for Research Patrick Rutty adds his thoughts on the new EPSA contract terms which Chevron, Eni, Qatar Energy, Repsol, TPAO, MOL and Aiteo have agreed.

Host Patrick Rutty connects with Shankar Krishnan to dig into how Indonesia NOC Pertamina’s plans to test a 400 mmboe East Natuna Basin prospect with key exploration well Besar-1 fit into its larger exploration strategy; speculate a bit as to the ultimate success of India’s four-times-extended OALP X bid round and whether flickers of interest from BP, XOM, TTE, and PBR will translate into bids; and finish with some thoughts on TPAO’s expansion into Pakistan and why they might further expand their acquisition of exploration assets in south Asia.

Host Patrick Rutty and guests Tommy Liskey and Arthur Keep discuss GeoPark’s $375MM agreement to buy Frontera’s Colombia assets, recent activity by ExxonMobil and Shell in T&T, and Woodside’s Trion development plans in the Gulf of Mexico Perdido Fold Belt.

Host Patrick Rutty and EMEA Sr. Regional Manager Tom Richards go over the background and details of CVX’s recent Israel FID, then gush about exceptional explorer ENI’s exciting deepwater Sirte Basin wildcat, and finally ensure that recent developments in Syria – and parallels to Venezuela – do not go unnoticed.

Regional Manager Jimmy Boulter runs through highlighted activity with host Bruce Walker, focussing on a new exploration wave in Cote d'Ivoire and the first well offshore Somalia in four decades, plus the early stages of a potentially huge Angolan acreage claim by Shell.

EMEA leader Tom Richards, Europe expert Anne Jones and host Patrick Rutty dive into EQNR / Vår Energi / Petoro’s sizeable Barents Sea Vikingskipet prospect. They then turn to Serbia’s draft hydrocarbon law and contemplate potential opportunities there as the country moves to open up its oil & gas sector – before Tom throws in a wild card at the end.

Host Patrick Rutty talks with Tommy Liskey and Arthur Keep about Venezuela’s oil and gas history, how recent events may shape the E&P future there for current participants like CVX, how SHEL and T&T could benefit from renewed efforts to undertake cross-border development of the 4 Tcf Dragón gas field, whether XOM/Guyana will have to worry any longer about Essequibo sabre-rattling, and how defiant Colombian President Petro should continue to be.

Patrick Rutty connects with Chester Chua and Shankar Krishnan to talk about the world-leading amount of exploration drilling in China, the basins and plays involved and the challenges to getting discoveries online. Then we pivot to Indonesia for a primer on the country’s curiously transparent Joint Study Area mechanism, which is newly attracting interest from top-tier explorers.

Host Gibson Scott, Head of Intelligence at Enverus, is once again joined by Director of Macro Research Al Salazar and Sr. Analyst Josie Mills to dive deep into the team's latest Fundamental Edge report, exploring the evolving dynamics reshaping global oil and gas markets. What You'll Learn: Oil Market Outlook: Discover why EIR maintains a bearish near-term stance on Brent crude, forecasting below current forward curves. We'll examine the current oversupply conditions and what we are watching in 2026. OPEC Production Testing Highs: Look beyond quota confusion to gain insights into OPEC liquids production.  Natural Gas Winter Outlook: Understand why EIR forecasts NYMEX Henry Hub for winter 2025-26 below current forward strips. We'll discuss the importance of sticking to market fundamentals to avoid getting lost in the volatility of gas prices. Basis Dynamics: Learn about our view on demand growth in PJM and counter-consensus bullish TTF/JKM view. This episode provides essential insights for energy traders, analysts, and industry professionals navigating today's complex commodity markets. Tune in to understand the key catalysts that could drive price recovery in the coming years.

Host Patrick Rutty and Sr. Regional Manager Tom Richards discuss Israel’s expansive and attractive bid round, take note of a UK junior acquiring Omani production from Mitsui, and opine that Saudi Aramco’s newly online Jafurah gas project is only the beginning of a slew of MENA unconventional efforts.

SSA Regional Manager Jimmy Boulter and host Patrick Rutty celebrate ReconAfrica’s onshore Namibia success, recount the Murphy story as we await the imminent spud of the first of their three prospects in CDI, give a quick rundown of what’s on offer in Nigeria, and then share what we’re each most excited about for SSA in 2026.

Dane Gregoris, Alex Ljubojevic and Al Salazar analyze remaining inventory across North American shale plays and explore its implications for long-term oil prices and industry capital allocation decisions.

Europe Regional Manager Anne Jones and host Patrick Rutty briefly review the future of the Excess Profits Levy and UK exploration broadly in light of the Autumn Budget, have a chat about Central European Petroleum’s next move in Poland, and speculate as to who might be buying Gazprom’s majority stake in Serbian NOC NIS.

Host Patrick Rutty and Asia-Pacific Sr. Regional Manager Chester Chua first unpack Eni’s reversal from divestment mode to an acquisition and field development focus offshore Australia’s Northern Territory before switching to a quick update on the Beetaloo Basin.

In this episode, we’re joined by Prabhdeep Sekhon, CEO of Gold H2—a climate technology and energy company revolutionizing energy through subsurface biotechnology. Gold H2 is the only company in the world that biologically transforms stranded oil reservoirs into hydrogen-producing assets. By leveraging subsurface microbiology, engineering and existing oilfield infrastructure, their mission is to deliver cost-effective, scalable and sustainable hydrogen solutions that bridge the gap between traditional energy systems and a carbon-free future. This episode was recorded on June18th, 2025.  

Tommy Liskey, Arthur Keep and Victoria Phillips join host Bruce Walker to share news and insights from South and Central America, where new awards headline in Suriname and Guyana, whilst Pacific E&P surges in Colombia and El Salvador.

Host Patrick Rutty sits down with EMEA Sr. Regional Manager Tom Richards to marvel at XOM’s recent and remarkable string of acquisitions and new country entries in the MENA region and discuss how they fit into overlapping themes of frontier deepwater exploration, East Med gas and LNG supply, and short-cycle oil production – securing long-cycle assets while policy and capital still enable it all.

In this episode, we welcome Amanda Hall, CEO at Summit Nanotech. Summit Nanotech is a clean technology company providing sustainable, reliable DLE solutions designed for commercially viable brine resources in North and South America. This episode was recorded on June 4th, 2024.

Host Patrick Rutty and SSA Regional Manager Jimmy Boulter speculate as to which Lukoil SSA assets are strategic enough for new owner Gunvor to keep, discuss recent new country entries and make some predictions about what’s next (did someone say “The Gambia”?), and finish off with a bit on TotalEnergies lifting force majeure on the Mozambique LNG project.

Europe Regional Manager Anne Jones helps host Patrick Rutty start to make sense of recent A&D and exploration plans in the Jameson Land Basin of Greenland and then recount the story of sovereign partner Denmark’s inauguration of the Tyra Field gas redevelopment, which brings the complex back online at 100 Bcf/year.

Head of Oil & Gas Research Dane Gregoris interviews Enverus' leading E&P analysts Michael Berger and Shawn Stuart to recap key insights from their recent roadshows meeting with institutional investors on the East Coast and in Texas. In this episode, the team explores investor sentiment around oil and gas equities, discusses U.S. resource constraints, and shares perspectives on the current M&A landscape. Recorded on October 22, 2025.

In this episode, we welcome Dr. Philip Ball, Chief Technology Officer and Co-Founder of Geothermal Radar and Director of Geothermal Energy Advisors, for a deep dive into the rapidly evolving world of geothermal energy. Together, we’ll explore how advanced subsurface data is changing the way we discover, evaluate and scale geothermal projects—and what this means for the future of clean, baseload power.  This episode was recorded on May 23rd, 2025.

Senior Regional Manager Shankar Krishnan focuses this week's discussion with host Bruce Walker on South East Asia. Indonesia's multifaceted tender approach continues to attract attention, with high expectations from the Joint Study Area system that encourages IOC participation to high grade acreage. The Philippines is also enjoying renewed interest, spurred by domestic demand and more receptive government policies.

Host Patrick Rutty talks with Tommy Liskey and Arthur Keep about Argentina’s imminent mid-term elections and their potential impact on the hottest unconventional play outside North America and about Brazil’s PPSA auction of state equity in producing pre-salt fields – and then we have cake.

AI-driven computing, cryptocurrency mining and EV charging are driving an unprecedented surge in energy demand. How can the industry keep up? In this episode of Innovation Underground, Enverus Intelligence® Research’s Ian Nieboer, head of Energy Transition Research, explores how the subsurface could play a pivotal role in supporting grid reliability, optimizing energy storage and unlocking new solutions for powering data centers and energy-intensive industries. This episode was recorded on February 26th, 2025.

Host Gibson Scott, Head of Intelligence at Enverus, is once again joined by Director of Macro Research Al Salazar and Sr. Analyst Josie Mills to dive deep into the team's latest Fundamental Edge report, exploring the evolving dynamics reshaping global oil and gas markets. What You'll Learn: Oil Market Outlook: Discover why EIR maintains a bearish near-term stance on Brent crude, forecasting below current forward curves. We'll examine the current oversupply conditions and projected inventory builds that are driving these price expectations. Demand Green Shoots: Explore surprising trends in global oil consumption, including how slower-than-expected EV adoption is providing unexpected support to gasoline demand. Learn why EU gasoline demand has increased above pre-COVID levels and what this means for long-term energy transition models. Natural Gas Winter Outlook: Understand why EIR forecasts NYMEX Henry Hub for winter 2025-26 below current forward strips. We'll discuss elevated storage levels and NOAA's warmer-than-normal winter forecast. Regional Basis Dynamics: Learn about expected volatility in Waha basis pricing due to pipeline maintenance and how upcoming expansions could provide relief by mid-2026. Plus, discover why AECO prices may see near-term upside as LNG Canada creates displacement effects. This episode provides essential insights for energy traders, analysts, and industry professionals navigating today's complex commodity markets. Tune in to understand the key catalysts that could drive price recovery in the coming years.

Host Patrick Rutty connects with EMEA Sr. Regional Manager Tom Richards to put the recent Shell/Petronas LNG shipment from Idku in perspective, celebrate the first steps toward resumption of Kurdistan oil exports through Turkey, and look ahead to a pair of Eni-operated new-field wildcats offshore Libya.