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PetroNerds LLC


PetroNerds LLC is a boutique energy analytics and advising firm based in Denver. It provides a variety of products and services to help its clients better understand US energy markets, evaluate the performance and assets of US tight oil and gas producers, improve midstream and downstream market knowledge, and provide domestic and global policy context to ongoing events in the both US and abroad.

PetroNerds was founded in 2015 by Ben Montalbano, former Director of Research and Operations of the Energy Policy Research Foundation Inc. (EPRINC), and Trisha Curtis, EPRINC’s former Director of Research – Upstream and Midstream.

The PetroNerds staff has a published track record of analyzing both global energy markets and policy, enabling it to make sense of today’s US-centric developments for its clients around the globe and provide the context they need to make decisions. In addition to publishing reports in respected industry publications, the staff has led research projects with the Department of Defense and the Department of Energy in support of the 2015 Quadrennial Energy Review (QER). PetroNerds has also worked closely with upstream and midstream companies to provide market guidance and analysis in support of their operations and investment activities.

Headquarters Address

Denver, CO
United States

Main Phone Number


Amid Climate Scaremongering, Energy Execs Urge Engagement, Realism

From shale boom to net zero goals, industry experts grappled with the contradictions facing the energy industry during SPE’s Hydraulic Fracturing Technology Conference.

Shale Firms Discount 'US Put' as Inadequate to Lift Oil Output

"That announcement was making it appear like he was throwing a bone to the oil industry," PetroNerds CEO Trisha Curtis said on Twitter of U.S. President Jo Biden's decision to release more oil from the Strategic Petroleum Reserve.

Despite Recession Fears, Key E&P Needs Will Feed M&A

Upstream oil and gas companies continue to suffer from a double standard in the markets, with low equity valuations causing headaches for equity-based deals. 

DUG Bakken & Rockies 2022: Money, M&A and Markets

Hear representatives of KeyBanc Capital Markets and PetroNerds discuss what investors are doing now that operators are showing them their returns.

DUG Permian: The Oil Outlook with PetroNerds CEO Trisha Curtis

This expert often presents to world decision-makers. Here's her insight into global oil dynamics going forward.

Oil Hedges to Crimp US Shale Producers’ First-quarter Profit

Dozens of U.S. oil and gas producers hedged at prices below $50/bbl, according to Enverus’ Andrew McConn. The firm’s review of 66 shale producers found roughly $7 billion in aggregate hedging losses.

Bakken, Rockies Shale: Business Is Different, But Still Viable

At DUG Bakken and Rockies, shale executives acknowledged the headwinds, but remained optimistic about the opportunities in the Powder River Basin, the Bakken and, yes, even Colorado.

The Real Price Of Occidental Petroleum’s ‘Costless’ Oil Hedge

Occidental Petroleum characterized its hedging transaction as "costless" but a Reuters review of regulatory filings, market data and interviews shows that's not the whole story.

DUG Rockies: Production, Reserves & Market Valuation (2019)

Here’s a look by analysts from PetroNerds and Seaport Global Securities on how Wall Street is valuing D-J Basin and other operators’ reserves.

DUG Rockies: Analysts Tout Strong Operations Despite Low Valuations

D-J Basin operators feature a price index lower than in the Bakken, Permian and Eagle Ford, according to Seaport Global.