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upstream-analysis

SLB Q1 2026 Pre-Earnings Deep Dive: Middle East Hit, North America Recovery, and the Digital Wildcard

SLB Q1 2026 Pre-Earnings Deep Dive: Middle East Hit, North America Recovery, and the Digital Wildcard

SLB reports tomorrow morning. CIR breaks down the March pre-warning, what Halliburton's Q1 signals for North America, and why the NVIDIA-SLB AI partnership may be the quarter's most important data point.

Wyoming Powder River Basin pumpjack with cattle grazing — oilfield production

Halliburton Q1 2026: What the D&E/C&P Split Signals About the Next Drilling Cycle

Halliburton's Q1 2026 earnings release, filed as Exhibit 99.1 to a Form 8-K with the SEC on April 21, 2026, confirmed a company in the early stages of a domestic recovery while managing real pain in its most important international theater. The headline numbers — $5.4

WTI Crude Oil Price Forecast 2026: OPEC+, U.S. Production, and Upstream Investment Implications

WTI Crude Oil Price Forecast 2026: OPEC+, U.S. Production, and Upstream Investment Implications

Where WTI Is Headed in 2026 — and What It Means for Upstream Capital The WTI crude oil price forecast for 2026 has become one of the most consequential variables in upstream budgeting. After WTI averaged just $60/bbl in January and $64.51/bbl in February, a sharp geopolitical shock

Devon-Coterra: What the Pro Forma Reveals About Leverage, Basin Priority, and Capital Allocation

Devon-Coterra: What the Pro Forma Reveals About Leverage, Basin Priority, and Capital Allocation

Devon Energy's April 10 SEC filing of unaudited pro forma combined financial statements is the most detailed look yet at what the pending Coterra Energy merger will actually produce — a multi-basin E&P with $66.7 billion in combined total assets and the scale to compete

Chevron's Pre-Release 8-K: What It Signals About Permian Margins, Realized Prices, and Q1 Earnings Season

Chevron's Pre-Release 8-K: What It Signals About Permian Margins, Realized Prices, and Q1 Earnings Season

Chevron's surprise April 9 pre-announcement changed the Q1 2026 earnings narrative before a single major E&P has reported. The Form 8-K, filed under Item 2.02 with the SEC, discloses specific guidance on four key variables — and each one carries a distinct signal for

The Drilling Contractor Dilemma: Rig Count Stalls While WTI Holds $92

The Drilling Contractor Dilemma: Rig Count Stalls While WTI Holds $92

The U.S. land drilling contractor sector heads into Q1 2026 earnings season on uncertain footing: domestic rig count momentum has stalled for four consecutive weeks while elevated oil prices above $90 WTI create an environment that should, in theory, support renewed drilling activity. Instead, operators are banking windfall cash

Curved LED display showing Earnings Season Quarterly Reports with financial ticker data — Q1 2026 E&P earnings tracker

E&P Earnings Tracker 2026: Production Guidance, Capex, and Operator Scorecards

Q1 2026 upstream earnings season is underway. WTI above $100/bbl, energy +38% in Q1. CIR tracks ExxonMobil, Chevron, FANG, EOG, and the full E&P scorecard — realized prices, capex, and what guidance revisions signal for the sector.