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

Q4 2025 Earnings: Mid-Cap E&Ps and the Diversification Dividend

APA, Murphy Oil, Talos Energy, CNX Resources, Epsilon Energy Source filings: SEC EDGAR 8-K press releases, Q4/FY 2025 Published: March 25, 2026 The mid-cap tier of U.S. upstream E&P delivered a predictable Q4 2025 — low realized prices, disciplined capital, and a persistent theme that

U.S. land drilling rig against open sky, upstream oil and gas operations

February Rig Count: Q1 2026 Taking Shape

The Baker Hughes rig count is the most widely cited real-time indicator of upstream activity in the United States, published weekly every Friday. As February 2026 closes, the count provides the clearest signal yet of how operators are executing on the 2026 capital programs they outlined during Q4 earnings.

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

The Majors' Q4 2025: Scale Wins, and the Scoreboard Is Getting Shorter

CIR Earnings Analysis | Q4 2025 | Filed: March 25, 2026 Let's start with a structural note: of the five companies assigned to this batch — ExxonMobil, Chevron, ConocoPhillips, Hess, and Marathon Oil — only three filed standalone Q4 2025 earnings. Marathon Oil was absorbed into ConocoPhillips in November 2024. Hess Corporation

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-

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

Midstream Buildout 2026: Infrastructure Catching Up

The history of U.S. shale development is, in part, a history of infrastructure catching up to production. Every time a new basin broke out — Permian, Haynesville, Marcellus, Bakken — the initial production surge ran ahead of takeaway capacity, creating basis blowouts and stranded production before midstream caught up. The 2026

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

Gas Producers Cash In: Q4 2025 Earnings Show a Sector Transformed by Price Recovery

Published: March 25, 2026 | CIR Upstream Analysis The five pure-play gas producers in this batch — EQT, Expand Energy, Range Resources, Comstock Resources, and Antero Resources — collectively represent the spine of U.S. natural gas supply. Their Q4 2025 results tell a coherent story: a sector that endured a brutal

Natural gas processing facility and pipeline, LNG export terminal

Natural Gas Producers: The Recovery Trade

Natural gas producers entered 2026 with something they hadn't felt in two years: pricing power. After Henry Hub spent most of 2024 below $2.50/MMBtu — touching sub-$2.00 in early 2024 — the commodity has recovered meaningfully heading into the 2025–2026 winter. The question now is