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CIR Research Desk

CIR Research Desk

Devon-Coterra Is Closed, Permian Resources Is Investment Grade, and WTI Holds $109

Devon-Coterra Is Closed, Permian Resources Is Investment Grade, and WTI Holds $109

Devon Energy's 8-K landed in EDGAR Thursday afternoon: a two-page Item 2.01 filing confirming the merger with Coterra Energy is done. Coterra shareholders received 0.70 shares of Devon for every share held, and the combined company began trading as a unified entity before Thursday&

Delaware Basin's New Giant: Devon-Coterra Closes as SM Energy Proves the Integration Thesis

Delaware Basin's New Giant: Devon-Coterra Closes as SM Energy Proves the Integration Thesis

Devon-Coterra closes today. SM Energy delivers its first post-Civitas beat. WTI at $109 with Hormuz disruption intact. Here's where US upstream stands Thursday morning.

Murphy Oil Q1 2026: Eagle Ford Efficiency, Chinook Deepwater, and Vietnam on the Horizon

Murphy Oil Q1 2026: Eagle Ford Efficiency, Chinook Deepwater, and Vietnam on the Horizon

Murphy Oil spent the first quarter proving that a mid-cap independent with a genuine international portfolio still plays differently than the Permian-only operators that have dominated CIR coverage this earnings season. The company reported Q1 production of 174,236 BOEPD — exceeding the high end of its guidance range

DUC Wells by Basin 2026: Inventory Tracker and Production Implications

DUC Wells by Basin 2026: Inventory Tracker and Production Implications

What Are DUC Wells? A drilled-but-uncompleted well is exactly what it sounds like: the wellbore has been drilled to total depth, casing has been run, and the hole is ready for hydraulic fracturing — but the completion work hasn't happened yet. The well sits in inventory, representing

Oil field among barren rock formations — West Texas Permian Basin

Devon Q1 2026: Merger-Ready Results as Delaware Basin Close Looms Tomorrow

Devon Energy Q1 2026: 387,000 bbl/d oil at the top of guidance, $816M free cash flow, and Coterra merger closing tomorrow. Plus: RBL redeterminations, drilling contractor capital discipline at $100 WTI.

EOG and OXY Q1 2026: Discipline Pays at $100 WTI

EOG and OXY Q1 2026: Discipline Pays at $100 WTI

EOG Resources and Occidental Petroleum both reported Q1 2026 results today, and the pattern is unmistakable: disciplined operators with well-positioned acreage are converting high commodity prices into exceptional financial performance. Both companies exceeded their own guidance. Both are running tighter balance sheets than a year ago. The market rewarded

Diamondback Q1 Beats, Devon-Coterra Passes: Permian Scores Going Into Tuesday

Diamondback Q1 Beats, Devon-Coterra Passes: Permian Scores Going Into Tuesday

Diamondback Energy opened Q1 2026 earnings season with a clean beat Monday evening, and Devon Energy's merger vote with Coterra passed overwhelmingly. Tuesday's session opens with WTI holding near $100 as the upstream sector digests what both mean for operator spending in a market that keeps