Enverus

Upstream M&A value just hit a multi-year low. The bid for inventory didn't. In 2Q26, deal value fell to $9.1B, the third-lowest quarter since 2020. But headline numbers are hiding the real story: buyers are paying record prices for scarce inventory. A few signals from Enverus Intelligence Research's latest read, based on the full 2Q26 Upstream M&A Summary by Andrew Dittmar, Principal Analyst: → Permian: the BLM auction and the $1.3B Paloma deal just reset the valuation floor for private operators → Anadarko/Mid-Con: ABS buyers are now the marginal bid, driving $5B+ in deals → Eagle Ford: Magnolia's $4B WildFire deal is pulling more sellers into the market → Gulf of Mexico: Talos continues consolidating major-company divestitures For investment banks, PE firms, and asset managers tracking operator valuations and M&A opportunity sets, this is the basin-by-basin read worth having on hand. Get the full breakdown: https://lnkd.in/de9qvhEy

Digital infrastructure runs on months. Power infrastructure runs on years. Behind-the-meter natural gas is the bridge filling that gap, not because developers want it there, but because interconnection timelines in major markets now stretch four years or more. When the grid connection is not available on the project's schedule, behind-the-meter is how the project stays alive. Patrick Lynch at CBRE and Ian Nieboer at Enverus covered what that means for project economics, which markets are driving BTM demand, and where the bridge strategy reaches its limits on Bring the Site to the Power. Watch the replay: https://lnkd.in/dpsrbZjn #DataCenters #BehindTheMeter #PowerMarkets

Some names you'd expect. Some you wouldn't. Swipe to see where a few of this quarter's top U.S. land drillers and drilling operators landed in the rankings. We track every major play — Permian, Eagle Ford, Haynesville, and more — by footage drilled, fluid pumped, lateral length, and drill rate. 22 - Antero Resources 13 - Citadel Drilling 7 - NorAm Drilling ? - Download the full list: https://lnkd.in/gAZdBiPY #OFS #Drilling #OperatorIntelligence #EnergyData

Two states, two tools, one question: who pays for data center load growth? Virginia: a flat $0.011/kWh tax on what data centers consume. Dominion's GS-5: a rate class that bills 85% of contracted transmission and distribution capacity and 60% of contracted generation, used or not. AEP Ohio: a queue-filtering tariff that cuts speculative interconnection requests by roughly 50%. Three approaches, three different failure modes. We break down which one holds up when your state runs its own rate case. Read now: https://lnkd.in/g-kJih78

For investors evaluating data centers, generation and other large-load projects, interconnection rules can materially affect project timing, costs and ultimately returns.   Southwest Power Pool (SPP) offers a useful case study because it is currently the only U.S. market with fully FERC-approved large-load tariffs.   Our Enverus Intelligence® Research power analysts examine SPP’s HILL, HILLGA and CHILLS frameworks to show how different approaches to pairing generation and load, allocating network upgrade costs, and providing conditional non-firm service can change the risk profile of a project.   ▶️Watch on demand: https://lnkd.in/d3KZHQNk The bigger question for investors: What happens to project economics as other ISOs work through their own large-load interconnection frameworks?   Watch the full webinar on demand for a market-by-market look at the regulatory, timing and cost considerations that could influence where capital finds opportunity.

A look at the key takeaways from Enverus Intelligence® Research's recent report: Who the FERC is ready? • EIR estimates 62 GW of new U.S. data center capacity will come online through 2030. • SPP is the only assessed region with FERC-approved large-load tariffs and offers the most developed pathway for connecting large loads and associated generation. • PJM has approximately 11.8 GW high-confidence pipeline; 58% is expected to be served behind the meter. • MISO has an approximately 11.6 GW pipeline; 78% is grid-connected, increasing its exposure to future tariff and network-upgrade cost changes. • Despite having the most advanced framework, SPP accounts for only about 5% of the identified high-confidence project pipeline. Read the full news release featuring insights from Juan Arteaga on grading grid readiness from the Federal Energy Regulatory Commission large-load order in June 2026. https://lnkd.in/eQ-6vi7c

The Haynesville looks different than it did two years ago. Operators are drilling longer wells, running higher-horsepower rigs, and expanding into new areas. The result is a changing inventory picture and a growing divide between the basin’s leaders and laggards. Then there’s the Western Haynesville. Wells are deeper, activity remains concentrated among a small group of operators, and early results are showing productivity well above the traditional fairway. Join Enverus on August 27 for Basin Insights: Haynesville at the Crossroads. Our team will cover: 🔍 Who holds the most economically attractive remaining inventory  ⚙️ How drilling efficiency is affecting the gas supply outlook  🗺️ What early Western Haynesville results tell us  📊 How to evaluate inventory and well performance in Enverus PRISM® Register now: https://lnkd.in/gFZP85eM

Less than half of the data center sites CBRE reviews have a real path to development. Not because of bad intentions. Because the disqualifying factors, energization path, location, interconnection capacity, surface after teams have already invested time and capital into a site that was never going to work. Patrick Lynch at CBRE and Ian Nieboer at Enverus get into what actually separates a viable site from a dead end, where those constraints surface, and where capital is moving next on Bring the Site to the Power. Watch the replay: https://lnkd.in/dtKG3RcD #DataCenters #SiteSelection #PowerDeliverability