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CIR Editorial

CIR Editorial

Drillers at the Supermajor Inflection: H&P, PTEN, and Nabors Ahead of XOM/CVX Thursday

Drillers at the Supermajor Inflection: H&P, PTEN, and Nabors Ahead of XOM/CVX Thursday

HP | NYSE | PTEN | NASDAQ | NBR | NYSE | Source data: Q1 2026 earnings releases, SEC 8-K filings, company investor presentations The three major U.S. contract drillers reported their first quarters before XOM and CVX walk to the podium Thursday morning. What the numbers say isn't complicated: rig counts

RBL Season Meets a $120 Oil Call: What Goldman's Upside Scenario Changes for E&P Capital

RBL Season Meets a $120 Oil Call: What Goldman's Upside Scenario Changes for E&P Capital

Goldman's $120 Brent upside scenario arrives mid-spring RBL season. What it means for borrowing bases, hedge books, and Q2 capex discipline.

Oilfield workers at wellhead at golden sunset

Solaris Energy Infrastructure Q1 2026: The Rebrand Was the Warning

Solaris Q1 2026: power segment now 65% of revenue and 86% of EBITDA. Logistics confirms the frac discount — 104 systems deployed but revenue down 11% QoQ. The rebrand from SOI to SEI wasn't marketing. It was a pivot.

Flowback's Frac Signal: What Solaris and TETRA Are Telling Us About Q1 Completion Activity

Flowback's Frac Signal: What Solaris and TETRA Are Telling Us About Q1 Completion Activity

Solaris Logistics revenue fell 11% QoQ in Q1. TETRA held flat on share gains, not activity. The frac discount is flowing downstream — here's what the flowback sector is actually signaling.

EQT's Backyard Moment: Why AI Data Centers Are the Best Thing to Happen to Appalachian Gas

EQT's Backyard Moment: Why AI Data Centers Are the Best Thing to Happen to Appalachian Gas

EQT | NYSE | Source data: Q1 2026 earnings release (8-K filed April 21, 2026), Q1 2026 10-Q (filed April 22, 2026), EIA U.S. dry natural gas production data, EIA electric power sector natural gas consumption data, FRED Henry Hub daily price series EQT's first-quarter earnings

SLB Q1 2026: Middle East Bleeds the Legacy Business While ChampionX and Digital Hold the P&L Together

SLB Q1 2026: Middle East Bleeds the Legacy Business While ChampionX and Digital Hold the P&L Together

SLB | NYSE | Source data: Q1 2026 earnings release, 8-K filed April 24, 2026 (SEC accession 0001193125-26-174940), prior 10-Q/10-K filings. WTI/Henry Hub quarterly context per FRED daily price series. Executive Summary SLB entered 2026 as a structurally different company than it was twelve months

The Frac Discount: PUMP, PTEN, and LBRT at Cycle Lows While Crude Trades Near $100

The Frac Discount: PUMP, PTEN, and LBRT at Cycle Lows While Crude Trades Near $100

Three services majors just reported organic NA revenue contraction. The frac independents are priced for more of the same. Here's what the SLB strip actually shows — and what it would take to close the gap.