upstream-analysis
The Majors' Q4 2025: Scale Wins, and the Scoreboard Is Getting Shorter
Q1 2025 Earnings Recap: The Winners and Losers
CIR | Issue 15 | April 24, 2025
Q1 2025 earnings season delivered a familiar split for upstream operators: disciplined capital allocation rewarded, growth-at-any-cost punished, and natural gas producers still waiting for a turn that hasn't arrived. With WTI averaging roughly $71-73/bbl in the quarter and Henry Hub stuck
Gas Producers Cash In: Q4 2025 Earnings Show a Sector Transformed by Price Recovery
Permian Independents Q4 2025: Efficiency Wins, Portfolios Shift, and One That Won't Be Reporting Again
Q4 2025 Earnings Batch 1: The Diversified Permian Players Deliver — But Pricing Headwinds Are Real
Q1 2025 Earnings Preview: What to Watch
Issue 9 | April 3, 2025 Category: Earnings & Capital Markets Access: Paid
The Q1 2025 earnings parade kicks off in mid-April, and the setup is the most consequential since the post-COVID recovery cycle. WTI averaged roughly $72–$74/bbl in Q1 — serviceable, not spectacular. Henry Hub averaged under $3.00/