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CIR Research Desk

CIR Research Desk

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The New Entity’s Numbers: Devon-Coterra Posts First Pro Forma, WTI Fades Into Memorial Day Weekend

Devon Energy filed its first combined pro forma financial statements for the Devon-Coterra merged entity on Friday, giving the market its initial hard look at what 1.15 billion shares of combined production capacity actually costs to run. The regulatory filing landed against a backdrop of WTI pulling back

Barclays Holds the $100 Line as Inventory Math Turns Against Iran Deal Optimists

Barclays Holds the $100 Line as Inventory Math Turns Against Iran Deal Optimists

WTI gains $1.91 to $98.26 as Barclays warns inventory risks are skewed higher and Goldman confirms record-pace global draws. Iran deal skepticism rebuilds the physical premium.

Devon's $2.6 Billion BLM Move: Two Weeks After Coterra, Delaware Basin Inventory Expands

Devon's $2.6 Billion BLM Move: Two Weeks After Coterra, Delaware Basin Inventory Expands

CIR Research Desk | Source data: Devon Energy 8-K filed May 21, 2026 (SEC accession 0001193125-26-233515), ADNOC/Reuters wire, EIA/FRED commodity prices, Yahoo Finance intraday Devon Energy has been the combined Devon-Coterra entity for exactly two weeks. Today it spent $2.6 billion. Through the Bureau

Saudi Exports Hit Record Low as Goldman Sounds Stockpile Alarm: Thursday's Global Supply Brief

Saudi Exports Hit Record Low as Goldman Sounds Stockpile Alarm: Thursday's Global Supply Brief

JODI data shows Saudi Arabia's crude exports at record lows as Hormuz physical constraints bite. Goldman Sachs escalates its global stockpile alarm. WTI $98.07, Brent $104.48.

Oil Down $6, Gas Holds $3: Wednesday's Price Split and What It Signals

Oil Down $6, Gas Holds $3: Wednesday's Price Split and What It Signals

WTI fell $5.73 while Henry Hub held $3.07. Williams Companies filed a new $1B credit facility. Diamondback completed its leadership transition without drama. What Wednesday's split in crude and gas signals for Thursday.

Oilfield Services Sector 2026: Pricing Power, Utilization Rates, and What OFS Margins Signal for E&P Activity

Oilfield Services Sector 2026: Pricing Power, Utilization Rates, and What OFS Margins Signal for E&P Activity

The oilfield services sector in 2026 presents a genuine puzzle for upstream analysts: crude oil has spent most of May between $109 and $112 per barrel on FRED settlement data — historically the kind of price environment that drives a sustained OFS upcycle — yet service company margins, utilization rates, and stock

EOG Resources 2026: Production Strategy, Well Economics, and Why the Benchmark E&P Keeps Outperforming

EOG Resources 2026: Production Strategy, Well Economics, and Why the Benchmark E&P Keeps Outperforming

EOG Resources, Inc. | NASDAQ: EOG | Source data: EOG Q1 2026 earnings release, 10-Q filing, EIA Drilling Productivity Report (May 2026), Baker Hughes rig count data EOG Resources set the benchmark for US upstream capital efficiency in 2025 — and its Q1 2026 results suggest that discipline is holding even as