CIR Research Desk

The Haynesville Shale in northwest Louisiana and east Texas spent most of 2023 and 2024 in retreat. Natural gas prices collapsed, drilling budgets were slashed, and the rig count in the basin fell from a peak of roughly 70 rigs to the low 40s. The basin's high-pressure, high-temperature

When Congress lifted the 40-year crude export ban in December 2015, the oil market shrugged. U.S. exports trickled out at a few hundred thousand barrels per day, directed mostly to Canada. Few believed the infrastructure or the volume were there to make American crude a global force. Fast forward

Every fall, the upstream oil and gas industry goes through a ritual that determines the trajectory of U.S. production for the next calendar year: budget season. Starting in late August and running through November, E&P companies large and small run their planning cycles, stress-test commodity price assumptions,

Most oil and gas investors can read an income statement and calculate a free cash flow yield. Fewer can evaluate whether an operator's stated EUR (estimated ultimate recovery) is reasonable, or whether a type curve is conservative or optimistic. That knowledge gap matters — because the entire economic foundation

The U.S. shale revolution created an enormous surplus of light, sweet crude — the kind that flows easily from tight formations and commands a premium for its low sulfur content. But refineries are not interchangeable. A Gulf Coast coker complex designed around medium-sour Mexican or Venezuelan crude cannot simply substitute