CIR Research Desk

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

In an industry that has largely exhausted the era of genuine exploration surprise, EOG Resources has delivered one of the more consequential organic discoveries of the past decade. The Dorado play in South Texas's Maverick Basin represents what EOG does better than almost any other public E&

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

The U.S. upstream industry has demonstrated remarkable productivity gains over the past decade. Lateral lengths have doubled. Completion intensity has tripled. Well costs per foot of lateral have declined. And yet, periodically, the industry runs into a problem that no amount of drilling innovation can solve: infrastructure that can&

Chord Energy was born from necessity. When Oasis Petroleum and Whiting Petroleum — two Bakken stalwarts that had each filed for bankruptcy during the COVID crash — merged in 2022, the combination created a company with scale, a cleaned-up balance sheet, and an unenviable challenge: making the mature Williston Basin work