CIR Research Desk

In an industry defined by capital intensity, operational complexity, and commodity price volatility, mineral rights ownership stands apart as the most passive — and in many ways, most durable — way to participate in upstream oil and gas. Mineral owners don't drill wells, don't pay lease operating expenses,

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,

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

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