Enverus releases top 100 private E&P operators list

Strategic developments, mergers and acquisitions, continue to shape rankings

AUSTIN, Texas, June 25, 2024 /PRNewswire/ -- Enverus, the most trusted energy-dedicated SaaS and generative AI company, has released its annual list of the most prolific 100 private oil and gas producers in the U.S. based on gross operated production, well count and rig movements. Continental Resources and Ascent Resources remain in the top two positions on the list, with Aethon Energy moving up to the third position, according to Enverus.

"Merger and acquisition activity, particularly those involving public buyers and private sellers during 2023, have reshuffled our rankings," said Justin Lepore, lead consultant at. "Inventory count and quality has also significantly driven private operator valuations, and in many cases, there has been a goal of growing production to become more attractive to takeout targets."

"Regionally we see shifts too. In Appalachia, the acquisition of Rockcliff Energy by TG Natural Resources combined their positions into one, creating space for a new entrant onto our list. Chesapeake's asset sales in the Gulf Coast led to Wildfire and INEOS Energy joining the list this year as well. In the Bakken, asset sales by Ovintiv and Crescent Point resulted in significant upward moves for Grayson Mills and Kraken, while a Permian acquisition by VTX Energy and the entry of public-Civitas into the Permian reshuffled the list, with Tap Rock assets moving down and Hibernia being removed. Overall, it might be Rockies-weighted operators who saw the biggest shift as they now make up a lesser proportion of the top 20 names on the list, with new additions from Permian and Mid-con operators filling that gap," Lepore said.

"A list like this also shows the contribution from private operators, which accounted for approximately 36% of Lower-48 oil production in 2023, with around 70% of this volume coming from the Top 100 on the list. Production is increasingly held by large, public operators," Lepore said.

The list utilizes data from Enverus Foundations® and Activity Analytics and includes a breakdown of liquids and gas production, total company well counts, recent rig programs and comparison to the previous year. The list was featured in Upstream Pulse, a bi-monthly report that covers exploration and production, deals and capital markets for the North American and global oil and gas sector.

Request Enverus' Top 100 Private Operators list.

About Enverus

Enverus is the most trusted energy-dedicated SaaS company, with a platform built to maximize value from generative AI, offering anytime, anywhere access to analytics and insights. These include benchmark cost and revenue data sourced from more than 95% of U.S. energy producers and more than 40,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment, and sourcing. 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