Enverus Intelligence

Europe Regional Manager Anne Jones and host Patrick Rutty talk about VET’s first gas from and future plans at their 68 Bcf Wisselshorst field in Lower Saxony, discuss commercial movements and operational delays in Greenland’s Jameson Land Basin and offer a wee bit of speculation on what comes next, and marvel at the CVX acreage and exploration-to-be juggernaut offshore Greece.

For the last decade oil pipelines moderated production growth from Canada's oil sands. That ceiling is lifting, and the constraint is moving. Dane Gregoris hosts Kyle Bertamini and Trevor Rix to talk about the five oil egress projects now on the table. Behind the pipes, there is plenty of resource but what could bite instead is producer capital discipline and diluent supply, with domestic condensate resource an order of magnitude short of bitumen.

Host Patrick Rutty connects with Senior Regional Manager Shankar Krishnan to talk about how much gas can be expected from the region’s FID’d and pre-FID projects and what’s required to keep things moving forward on INPEX’s Abadi and PTTEP’s Lang Lebah. They then turn their attention to Oil India Limited’s exploration campaign in the Andaman Sea to discuss what the initial gas shows and tests portend and – with the rig back on Vijayapuram-1 – whether the dry hole is getting an uphole test or a P&A. The episode finishes with a short bit on the India ambitions of supermajors Shell, ExxonMobil, BP, and TotalEnergies.

Enverus Intelligence host Gibson Scott sits down with Al Salazar, director of macro research, and Josephine Mills, senior macro research analyst, to break down this month's Fundamental Edge report, "You Can't Print Barrels." The team continues to hold their $100 Brent call, a position they've held since March, but the demand and supply assumptions underneath shifted sharply on Strait of Hormuz outages and Russian refinery losses. The team also cuts its Henry Hub forecast further, flags constrained Permian gas takeaway as an upside price risk, and unpacks Europe's tightening storage picture ahead of a historically strong El Niño winter. Plus: early signs of real upside from data centers in ERCOT, and a closing note on Chevron's expanded Venezuela guidance.

Following the recent Image conference in Houston and publication of our latest Venezuela Scout Insight, the scouting team joins host Bruce Walker. Victoria Phillips talks about the growing but guarded optimism in Venezuela's re-emergence, with Tom Liskey highlighting missing data and lost trust as key headwinds. Troy Grant shares his view that PDVSA and Caracas could navigate towards prominence in a re-ordered global supply market. Tom even posits that this could catalyse an exit from OPEC which would undermine even larger players in the cartel.

Host Patrick Rutty, Senior Regional Manager Tom Richards, and Senior Analyst Sheik-Imran Azim Rahman assess Syria's latest bid rounds, examining revised fiscal terms, contract lengths, and the geopolitical forces shaping the country's upstream reopening. They then discuss Shell's frontier Velox-1 exploration well offshore Egypt and what an encouraging early result could mean for the underexplored Herodotus Basin, before covering Ratio Petroleum's planned acquisition of Pharos and its significance for Israeli investment in Egypt. The episode concludes with a look at Capricorn Energy's increasingly certain future as takeover interest narrows to Genel.

SSA Regional Manager Jimmy Boulter, Senior Regional Analyst Archie Rowland, and host Patrick Rutty discuss Sonangol’s success at Katambi 2 and speculate about the discovery’s path to commercialization. They then note Eni having found an indigenous suitor for its 5% stake in 18 Renaissance Energy-operated Nigeria blocks before summarizing Nigeria’s new deepwater investment framework and having a think about how much activity – and which projects – it will truly incentivize. Finally, they wrap up with a wild card entry: recent Sao Tome & Principe asset activity.

Europe Regional Manager Anne Jones and host Patrick Rutty decide not to talk about a number of other interesting topics before plunging into Norway operator Vår’s venture into Danish waters and why the deal makes sense. They then have a run at the likely outcomes of bp’s declared intent to sell its remaining UK upstream assets, including thoughts on asset grouping, buyers, and timeline.

Host Patrick Rutty connects with Chester Chua and Shankar Krishnan to note BP’s re-engagement on one of the four exploration blocks offered by South Korea in the deepwater Ulleung Basin. They then follow the BP trail down to the Andaman Sea, where the supermajor is providing technical expertise to ONGC on well locations and drilling operations. Next, a quick review of recent work by Shell and other operators in advancing Queensland’s emerging Tinowon Sandstone tight gas (à la Alberta Deep Basin) play. And lastly, a bit on UK indies rotating into SE Asia, Serica’s acquisition of Pharos – with Vietnam (and Egypt) assets – being the latest example.

Andy McConn recaps his roadshow through Buenos Aires and London, from Vaca Muerta economics to the lull in international upstream M&A and where he sees green shoots in global exploration. Plus a rapid-fire round on which basins and countries are overlooked by investors.

Host Patrick Rutty and guests Tommy Liskey and Victoria Phillips discuss how Washington turned OFAC approval from a locked door into a turnstile (for the right companies) in Venezuela, catch up on Colombia politics and offshore exploration activity, move on to Argentina to put another mark on the wall for the RIGI and to flag a new offshore block tender, and finish up noting ongoing exploration success by Petronas in Suriname’s Block 52.

In this episode, Enverus Managing Director Ian Nieboer sits down with Pat Lynch, Global Executive Managing Director for Data Center Solutions at CBRE, to discuss how AI-driven demand has fundamentally reordered data center site selection, shifting the priority away from location preference and toward wherever power is actually available. With three decades in digital infrastructure, Pat brings rare perspective on gigawatt-scale development, edge compute economics, supply chain constraints, and the evolving role of the grid in powering it all.

Stephen Sagriff is joined by Dane Gregoris to discuss key takeaways from a recent oil and gas investor roadshow on the East Coast of the U.S. The Permian basin and recent headlines surrounding lightweight proppant and surfactant usage were highly topical.

Host Patrick Rutty, Senior Regional Manager Tom Richards, and Senior Analyst Sheik-Imran Azim Rahman discuss Syria’s rise from the ashes as an area for renewed E&P focus and Egypt’s remarkable progress in erasing its arrears to oil and gas companies. They then turn their attention to Israel’s just-announced offshore bid round and briefly cover Zion Oil & Gas’s exploration of what seems an unconventional play onshore, before wrapping up with TPAO and Shell new country entries.

New finds for Murphy in Cote d'Ivoire, RAEC in Nigeria, and the Rhino-Azule partnership in Namibia. Meanwhile, Shell returns to Gabon with a deepwater MoU. Regional Manager Jimmy Boulter and Regional Senior Analyst Archie Rowland join host Bruce Walker for this West Africa-focussed discussion.

Sheikh Imran Azim-Rahman joins Bruce Walker to discuss the southern portion of Europe bordering the eastern Mediterranean Sea. Italy and Croatia persist with E&P efforts in spite of regulatory headwinds, limited resources, and problems between key stakeholders Eni and Energean. Whilst sanctions continue, Russia still casts influence on Serbia's NIS, with a pathway to Gazprom's exit yet to be resolved.

Host Patrick Rutty connects with Shankar Krishnan and Chester Chua to discuss the Woodside-led Browse LNG’s new $32 billion budget and ownership re-shuffle and then explore Pertamina’s pursuit of unconventional potential with American shale legend EOG and through a possible separate partnership with APA.

Host Patrick Rutty and guests Tommy Liskey and Victoria Phillips discuss the burgeoning production, M&A environment, and capital commitments in Neuquén province’s Vaca Muerta play, have a quick review of Chile’s plans for its first-ever attempt at using horizontal fracked wells for tight gas development, and take note of XOM’s latest Guyana exploration well's name, location, and political significance.

Host Patrick Rutty and Senior Analyst Sheik-Imran Azim Rahman discuss whom they expect to participate in the Algeria bid round and then focus on Egypt to parse through BP’s portfolio rotation and contrast it to the supermajor’s UK stance, highlight the Eni-led Agiba JV’s 400 bcfe South Bostan discovery in the Matruh Basin, and take note of TotalEnergies’ new 20,000-square-kilometer reconnaissance licence in the Herodotus Basin.

SSA Regional Manager Jimmy Boulter and host Patrick Rutty dive into the still-growing inventory of reconnaissance (aka study, prospecting, technical evaluation, etc.) licences – mostly in the hands of the majors, mostly in Africa, and mostly with very light work commitments. They then air a difference of opinion on Atlas Oranto before converging again to speculate how Energean’s currently stymied bid to acquire Chevron Angola assets will end up.

A wave of licensing rounds are scheduled across Southeast and South Asia, so Indonesia's latest round and intriguing opportunities in Vietnam and Bangladesh form the focus of Senior Regional Manager Shankar Krishnan's discussion with host Bruce Walker. Shankar also reports on newly signed awards, most notably for BP in the Tangguh-area, and on Eni's Indonesian expansion.

Europe Regional Manager Anne Jones, Senior E&P Analyst Sheikh-Imran Azim Rahman and host Patrick Rutty take note of first production at Wittau field in Austria, which upon full development should double OMV’s domestic gas production to ~90 MMcf/d; marvel at last month’s April Fool’s joke about CVX going into Malta somehow becoming (partly) true; and spin a speculative and semi-political story about XOM’s ultimate lack of commitment to its Greek exploration effort.

Host Patrick Rutty and guests Tommy Liskey and Victoria Phillips discuss the upcoming Neuquén bid round and Chevron adding $10 billion to the $95 billion pile of approved and potential RIGI investments; update Petrobras progress on Brazil frontier wildcat well Morpho; weave a story around Armstrong’s Aruba assets, the Repsol/Eni partially developed Perla gas field in Venezuela, the White House, and broader Caribbean gas aspirations; and look ahead to bp’s appraisal of giant Santos Basin discovery Bumerangue – before Victoria throws in a Dominican Republic-Guyana wild card.

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.