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.
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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 | 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
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.
Mega-Major Preview: XOM and CVX Report Thursday — What $96 WTI Means for Permian Scale and Cash Returns
XOM | NYSE • CVX | NYSE | Source data: XOM Q4 2025 earnings release (8-K filed January 30, 2026), XOM Q1 2026 Earnings Considerations (8-K filed April 8, 2026), CVX Q1 2026 preliminary operational and financial guidance (8-K filed April 9, 2026), SEC EDGAR accessions 0000034088-26-000033, 0000034088-26-
Baker Hughes Q1 2026: The Services Company That Left Oilfield Services Behind
IET orders grew 54% year-over-year in Q1 2026 to $4.887 billion while OFSE fell 7%. Baker Hughes is becoming an industrial energy infrastructure company — and the numbers prove it.
Americas Crude Steps Into the Hormuz Void: Mexico, Guyana, and Canada Reshape Atlantic Basin Trade
Mexico is sending crude to Japan. Canada's Trans Mountain is loading near 890,000 bbl/d. Guyana's Stabroek is at 800,000 bbl/d and ramping. The Atlantic Basin gap left by Iran is being filled — and Americas suppliers are collecting the premium.