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Majors

Permian Basin pumpjacks operating at sunset, West Texas oil production

The Consolidation Aftermath: How the Majors Remade the Permian

By mid-2024, the Permian Basin had been fundamentally reshaped by a wave of mergers that will define the basin's operating landscape for the next decade. ExxonMobil's $59.5 billion acquisition of Pioneer Natural Resources closed in May 2024. ConocoPhillips closed its $22.5 billion acquisition

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

Q4 Earnings Begin: Early Results and First Read

The first Q4 2025 earnings results are in. With large-cap independents and one major reporting in the final days of January, we have an early read on how the sector performed through a quarter defined by $70 WTI, recovering natural gas prices, and the first full integration cycles of

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

Q4 2025 Earnings Preview: Year-End Reckoning

Earnings season for Q4 2025 kicks off in earnest in late January, with the bulk of the E&P majors reporting through mid-February. This is the year-end reckoning: full-year production vs. guidance, free cash flow generation against a backdrop of $70 WTI, and — critically — how operators