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morning-brief

Hormuz Opens for Some, Closes for Others: Iran's Passage Strategy and the May 16 Wildcard

Hormuz Opens for Some, Closes for Others: Iran's Passage Strategy and the May 16 Wildcard

A Japan-bound crude tanker cleared the Strait of Hormuz this morning, Reuters reported, citing LSEG vessel-tracking data. It's only the second Japan-bound cargo to make it through since U.S. and Israeli forces launched strikes on Iran in late February. The transit doesn't

EU Blinks on Storage, SM Clears Legacy Debt: Wednesday Capital Markets Brief

EU Blinks on Storage, SM Clears Legacy Debt: Wednesday Capital Markets Brief

SM Energy retires $400M in legacy Bonanza Creek notes. The EU backs flexibility on gas storage mandates. SLB locks in $2B at 10-year rates. WTI holds $101.

OVV Completes the Reset: NuVista Closed, Anadarko Gone, Net Debt Under 0.8x at $101 WTI

OVV Completes the Reset: NuVista Closed, Anadarko Gone, Net Debt Under 0.8x at $101 WTI

Ovintiv exited Q1 2026 with its portfolio transformation essentially complete. The $2.8 billion NuVista acquisition closed during the quarter, adding 100 MBOE/d of Montney production and 930 net well locations. The $2.85 billion Anadarko divestiture, which closed in April, funded a $700 million debt redemption and pushed

KGS Hits Record Quarter, Pivots to Data Centers — WTI Gaps Up $2 on Iran Rejection

KGS Hits Record Quarter, Pivots to Data Centers — WTI Gaps Up $2 on Iran Rejection

WTI gaps up $2 after Trump rejects Iran framework. Kodiak Gas Services Q1: record $190M EBITDA and a 2-gigawatt data center power ambition. Frac sector reset ahead.

Week in Review: Devon-Coterra Closes, WTI Retreats From $110

Week in Review: Devon-Coterra Closes, WTI Retreats From $110

Devon-Coterra closed May 7, creating the largest Delaware Basin operator. WTI ran to $110 before pulling back to $95. Friday's brief: the week in review, the price reset, and what comes next.

Delaware Basin's New Giant: Devon-Coterra Closes as SM Energy Proves the Integration Thesis

Delaware Basin's New Giant: Devon-Coterra Closes as SM Energy Proves the Integration Thesis

Devon-Coterra closes today. SM Energy delivers its first post-Civitas beat. WTI at $109 with Hormuz disruption intact. Here's where US upstream stands Thursday morning.

Oil field among barren rock formations — West Texas Permian Basin

Devon Q1 2026: Merger-Ready Results as Delaware Basin Close Looms Tomorrow

Devon Energy Q1 2026: 387,000 bbl/d oil at the top of guidance, $816M free cash flow, and Coterra merger closing tomorrow. Plus: RBL redeterminations, drilling contractor capital discipline at $100 WTI.