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CIR Research Desk

CIR Research Desk

Permian Basin pumpjacks operating at sunset, West Texas oil production

Permian in 2026: The Road to 7 MMbbl/d

The Permian Basin is the most consequential oil-producing region in the world outside of Saudi Arabia's core fields. It exited 2025 producing approximately 6.3–6.5 million barrels of oil per day — a number that would have seemed fantastical to any petroleum engineer working the basin in

Natural gas processing facility and pipeline, LNG export terminal

LNG Export Update: Capacity Online and Coming

The United States is now the world's largest LNG exporter by volume, a position cemented in 2023 and extended through 2025. Entering 2026, the buildout of Gulf Coast export infrastructure continues at an accelerating pace — and the implications for upstream natural gas producers are substantial. Feed gas demand

U.S. land drilling rig against open sky, upstream oil and gas operations

January Rig Count: First Real Signal of 2026

The Baker Hughes rig count is an imperfect but irreplaceable leading indicator. Published weekly every Friday, it captures the operational pulse of the U.S. oil and gas industry before production data catches up. The first full BH count of 2026 — released the second week of January — gives us the

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

New Year, New Budgets: 2026 Capex Plans Finalized

The first week of January is when the real work begins. Holiday budgets are over; the spreadsheets are locked. Across the upstream sector, operators have finalized 2026 capital programs and the picture is coming into focus: disciplined growth, modest spending increases from 2025 levels, and a continued emphasis on returns

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

2026 Budget Season Wrap: Industry Capex Totals

The 2026 capital budget cycle has largely completed, with most major E&P operators releasing preliminary budgets at their analyst days and investor conferences through November and December. The headline number: the U.S. upstream industry is set to spend approximately $130–$140 billion on exploration and development in

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

Best and Worst Operators of 2025

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

Thanksgiving Energy Check: Demand, Prices, Inventory

Thanksgiving week is one of the most reliable demand signals in the U.S. energy calendar. Here's where things stand on crude, products, and natural gas.