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CIR Editorial

CIR Editorial

EOG Resources upstream production operations and field activity

EOG Resources: Still the Benchmark

In a sector where capital allocation discipline is preached by nearly every management team and practiced by fewer, EOG Resources remains the closest thing to a genuine benchmark. Over the past decade, EOG has consistently generated returns on capital employed (ROCE) that outperform the E&P peer group, delivered

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

Occidental Petroleum Deep Dive: CrownRock, Carbon Capture, and the $2.3B Wildcard

Editor's Note (March 30, 2026): Since publication, OXY stock has risen to approximately $66.81, nearly doubling from its 52-week low of $34.78 ($34.78-$67.05 range). This reflects improved WTI prices and successful completion of the OxyChem debt reduction. Market cap has recovered to

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

OPEC+ in 2026: The Discipline Question Returns

OPEC+ enters the second quarter of 2026 facing a familiar problem: the gap between stated production targets and what members actually want to pump is widening again. The cartel's credibility is structurally tested every time oil prices threaten to recover toward levels that would incentivize non-OPEC growth

Oil and gas production facility representing E&P company quarterly performance

Q1 2026 Earnings Preview: What to Watch

Q1 2026 earnings season kicks off in late April. The consensus setup is straightforward: analysts are looking for modest production beats, continued FCF delivery, and capex in-line with guidance. What they're not pricing in adequately is the natural gas price volatility that defined January-February and the

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

State of U.S. Upstream: The 2026 Benchmarking Report

Every quarter, CIR benchmarks U.S. upstream across the metrics that actually matter: production volumes, rig count by basin, year-over-year trajectory, and the macro environment heading into the next period. This is the Q1 2026 edition. Production: The January Reset EIA data for January 2026 shows U.S.

Upstream oil and gas pumpjack and production infrastructure, U.S. E&P operations

One Year In: What CIR Got Right — And What We Missed

A year ago, CIR launched with a simple thesis: the U.S. upstream sector was entering a new phase — one defined not by production growth at any cost, but by capital discipline, consolidation, and the slow monetization of America's gas resource base. Twelve months later, it's

Bakken Shale drilling and production operations, North Dakota Williston Basin

The Bakken at 20: Mature Basin Lessons for the Industry

The Bakken Shale's commercial development began in earnest around 2006–2008, when Continental Resources — under Harold Hamm's leadership — proved that horizontal drilling with hydraulic fracturing could unlock economic production from the tight Williston Basin formation. By 2026, the basin is roughly 18–20 years into large-