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Enverus Focused on Price Curves and Risk Management in a COVID World

Last week we spoke with Wendi Orlando, VP or Product Management, Enverus Trading & Risk.  With over 900 customers, Enverus continues to see good activity and continues to grow their client base, she told us. In common with other vendors we have talked to in recent months, it seems the lock-down has actually created more interest in Enverus’ Trading & Risk products but execution of new contracts can sometimes take more time, she said.  She also noted that they’ve seen instances where some of their prospects didn’t have systems in place that effectively supported work from home, including providing access to some of their business critical systems. “We’ve seen that in some companies, many employees used desktop machines rather than laptops, for example, and some of their staff were not proficient at things like Teams.  Many often had difficulty with remote access to many of the systems and processes that supported them in their offices, and particularly with those systems and tools that were not web-based,” she explained.

In terms of the inbound interest in new products and services, Ms. Orlando notes that Enverus is seeing a lot of interest from the electric power space where historical price and demand trends have broken down as a result of lock-downs, as demand shifted from commercial/industrial to residential.

Enverus is responding to these challenges as well as the increased volatility in commodity markets with campaigns aimed at informing about its forward price curve tools and capabilities. It has, for example, created an Ebook called Mitigating Forward Curves Risk Throughout and after a Pandemic saying “Companies really want that out-of-the-box, easily customizable technology that can help them simplify their forward curves process without significant internal IT support or maintenance. They also want to partner with an expert team that can handle most of the integration and management—avoiding additional workload for internal IT—to make it as painless as possible. We’ve created a new e-book that addresses these issues and aims to give risk managers a comprehensive, macro view of oil markets and how volatility could impact risk management. It also provides first-hand perspective from experts who build customized and automated forward curve risk management systems every day.” The company also conducting an upcoming webinar focused on the fall power forecast for North America and the price implications of outages from upcoming maintenance at facilities across the region.

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With power prices spiking to records on heat related demand in the West this summer (testing California’s renewables strategy) and an uncertain demand outlook going into the fall, its not surprising that the power markets are a significant driver of new technology interest in North America.  Though the oil and gas sector is lagging previous year’s activity, Enverus’ pricing models (including the use of AI & ML modeling tools) and power market experience has the firm well-positioned to continue to be successful even as some of their historical markets struggle through a difficult patch.