RFI: MineralIQ from Enverus

A search here came up empty so after receiving an email from Enverus/EnergyLink for their MineralIQ offering I was looking for some some feedback on it. Helpful, perhaps smoke & mirrors etc., any mineral owners here use it or what do our industry pros think about it?

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Permalink Reply by Skip Peel - Mineral Consultant on February 1, 2023 at 7:55

I ended up with Enverus when they bought out Rig Data.  I've had nothing but trouble ever since.  In fact I got an email today threatening me with "action" if I didn't pay invoices that have been generated after I refused to renew my subscription.  This has gone on for three months now.  I have replied numerous times that my subscription lapsed, I'm paid up in full and that I have not received the Weekly Rig Report for months now.  All this seemingly in vain.  I would never recommend Enverus to anyone.  I can't decide whether they are crooks or simply incompetent.

Permalink Reply by Skip Peel - Mineral Consultant on February 1, 2023 at 9:22

Here is a sample of reviews posted by Enverus employees.

You can change the name but the bad reputation persists

Account Manager (Current Employee) - Colorado - March 4, 2021

Good benefits, decent pay. Those are the only pros. The company is extraordinarily disorganized and it only gets worse with each acquisition that is made. No one on the executive management team has vision or is articulate & inspiring. Internal company goals are not aligned with client needs, and the sales organization employs shady practices to secure deals. There is a distinct lack of diversity, with most upper management positions held by the same white men that have been with the company for years, save for the token white lady. I have no hope for the future of the company if something does not change soon, and feel like I am falling behind my peers at other companies due to a lack of training and outside knowledge. Internal “knowledge shares” from people who barely passed their college classes aren’t worth much. There could be so much potential but leadership constantly falls flat, overpromising and underdelivering both to client and employees. At the end of the day, you can call it Enverus, but it’s still Drilling Info.

 

Terrible culture and work environment

Manager (Current Employee) - Houston, TX - August 11, 2020

It’s a sinking ship. The morale is lowering by the day; they have a top down management style, and the company has some shining stars that will burn out because of the terrible culture. The company is filled with mediocrity.

 

Volatile work environment with no direction or training

Account Executive (Current Employee) - Dallas-Fort Worth, TX - January 15, 2020

Worst training program I have ever experienced. Management was ruthless, contradictory, over bearing, demanding, ridiculous, unprofessional. Worst place to work!

 

https://www.indeed.com/cmp/Enverus/reviews

Permalink Reply by Rock Man on February 9, 2023 at 13:00

Based on personal experience, incompetence is the prime issue over the past several years.

Permalink Reply by Skip Peel - Mineral Consultant on February 9, 2023 at 13:46

Ditto.  I'm still going back and forth with accounts receivable.  One hand doesn't know what the other is doing or has done.  One states that in order to cancel a subscription they must have a ninety day notice.  Another thinks it's sixty.  Neither can produce evidence that I was notified of that requirement.  I've paid them $500 to bring my account up to date with a request to see the email where I was apprised of this requirement.  That's $500 but no weekly rig reports for that period.  Subscribers beware.

Permalink Reply by Steve P on February 1, 2023 at 10:02

WOW:  great reviews by current managers.   Let's see how this plays out.  Is this a publicly traded or privately owned company?

Permalink Reply by Skip Peel - Mineral Consultant on February 1, 2023 at 10:16

I posted the indeed link to be fair because there are some positive reviews.  I'll leave it to those interested to decide which reviews are most representative of the company.  Enverus, formerly Drilling Info, has been on a growth trajectory since being acquired by private equity firm, Hellman & Friedman in 2021.  My only interest was the weekly rig report which I got from Rig Data for years for $50/month.  Enverus acquired Rig Data, among a number of acquisitions, and raised the price to $85, only because I was an existing subscriber.  I had ongoing billing problems which were silly because Enverus had my auto billing authorization.  They would neglect to bill me for a month or two, send me emails and then I guess realize their screwed up and bill my credit card.  I had terrible experiences speaking with accounts receivable as the individuals could not speak or seemingly understand English.  When Enverus raised the price to $125, I declined to renew my subscription.  This was made plain in a number of email exchanges.  Even though Enverus ceased to send email links to weekly reports, they continue to insist that I owe them monthly charges now three months since I cancelled by subscription.  Now I'm being threatened with "action".  I think we have now reached the point of extortion.  If I don't pay for what I have not received, Enverus will turn my "account" over for collection.  I would strongly advise that members avoid doing business with Enverus.

Permalink Reply by M B Gilster on February 1, 2023 at 13:02

TY much for the insightful/detailed info. Skip, exactly the type of feedback/experiences I was looking for.

Permalink Reply by Skip Peel - Mineral Consultant on February 1, 2023 at 13:05

You're welcome, MB.  I have had a number of off site emails with friends who also have or had Enverus subscriptions.  They have all had similar experiences.  Dissatisfaction with Enverus is wide spread.

Permalink Reply by Jimmy Hamiter on February 1, 2023 at 16:09

Begs the question, is there a reputable online source of this sort worth a paid subscription? I'm on MineralIQ, but never signed up for any paid services. Thanks!

Permalink Reply by Skip Peel - Mineral Consultant on February 1, 2023 at 16:20

Jimmy, I haven't looked for one so I can't say.  Enverus has a lot of data beyond what I used which was the weekly rig report.  I suspect that the data is reliable and relevant for a relatively limited cohort of industry professionals.  My problems are customer service/accounts receivable related.  When private equity acquires an existing business we can expect several things to happen.  The price goes up and the cost of underlying business components goes down.  Corners are cut and it gets more difficult to resolve basic subscription issues.  Accounts receivables get outsourced to India and those who must attempt to resolve issues get frustrated.  I'm particularly upset as I didn't decide to use Enverus.  My existing account with Rig Data was acquired.  I tried to continue with Enverus but the cost went up and the customer support became basically nonexistent.

Permalink Reply by Jimmy Hamiter on February 1, 2023 at 16:48

Sorry to hear about the troubles you've had, which I want to avoid of course. In Google searches, similar sites "ShaleXP", "MineralAnswers" and "DrillingEdge" seem to always pop up first. That means they're spending a fair amount of resources to achieve this position (I deal a lot with search optimization in my job), which doesn't always translate to credibility. Other observations I could bore you with, but for now, I'll just wait and see. Thanks again!

Permalink Reply by Ryan Howrish on February 2, 2023 at 11:24

I am a current subscriber and have been for over 13 years. I have had a very different experience than yours.  I just renewed my subscription for another year because I have yet to find a better oil and gas data aggregation platform.  The good news is that other platforms are being built and are getting better every year

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