As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at U.S. shale E&P stocks, starting with Crescent Energy (NYSE: CRGY).
US shale oil producers extract crude from tight rock formations using horizontal drilling and hydraulic fracturing (fracking) techniques, primarily in basins like the Permian, Bakken, and Eagle Ford. Tailwinds include short-cycle investment flexibility allowing rapid production adjustments, technological improvements enhancing well productivity, and proximity to refining and export infrastructure. Capital discipline has improved financial returns. Headwinds include commodity price sensitivity affecting drilling economics, accelerating well decline rates requiring continuous capital investment, and increasing regulatory and ESG scrutiny. Water usage, induced seismicity concerns, and evolving environmental regulations present ongoing operational challenges.
The 11 US shale E&P stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 2.7%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 14.7% since the latest earnings results.
Crescent Energy (NYSE: CRGY)
Controlling over 1.4 million net acres across proven U.S. basins, Crescent Energy (NYSE: CRGY) extracts oil and natural gas from underground reservoirs in Texas and the Rocky Mountains.
Crescent Energy reported revenues of $1.18 billion, up 24.5% year on year. This print was in line with analysts’ expectations, and overall, it was a very strong quarter for the company with a beat of analysts’ EPS and EBITDA estimates.
Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 30.9% since reporting and currently trades at $9.48.
Best Q1: Chord Energy (NASDAQ: CHRD)
Holding the largest acreage position in the Williston Basin, Chord Energy (NASDAQ: CHRD) drills for and produces crude oil, natural gas liquids, and natural gas in North Dakota's Williston Basin.
Chord Energy reported revenues of $1.67 billion, up 37.1% year on year, outperforming analysts’ expectations by 33.1%. The business had an exceptional quarter with a beat of analysts’ EPS and EBITDA estimates.
Chord Energy achieved the biggest analyst estimate beat among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 22.6% since reporting. It currently trades at $115.39.
Is now the time to buy Chord Energy? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Texas Pacific Land (NYSE: TPL)
One of America's largest private landowners with roughly 868,000 acres in the Permian Basin, Texas Pacific Land (NYSE: TPL) owns land in West Texas and earns revenue from oil and gas royalties, water services, and land leases.
Texas Pacific Land reported revenues of $236.8 million, up 20.8% year on year, falling short of analysts’ expectations by 0.8%. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates.
As expected, the stock is down 1.3% since the results and currently trades at $414.10.
Read our full analysis of Texas Pacific Land’s results here.
Matador Resources (NYSE: MTDR)
Operating primarily in the Delaware Basin where multiple oil-bearing layers lie stacked thousands of feet deep, Matador Resources (NYSE: MTDR) explores for, drills, and produces oil and natural gas from underground rock formations in New Mexico and Texas.
Matador Resources reported revenues of $671.6 million, down 33.8% year on year. This number came in 23% below analysts’ expectations. It was a softer quarter as it also logged a significant miss of analysts’ EBITDA estimates.
Matador Resources had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 15.2% since reporting and currently trades at $49.
Read our full, actionable report on Matador Resources here, it’s free.
Riley Exploration Permian (NYSE: REPX)
Operating in counties where legacy oil fields have been producing since the early 1900s, Riley Exploration Permian (NYSE: REPX) drills for and produces oil and natural gas from horizontal wells in the Permian Basin of West Texas and New Mexico.
Riley Exploration Permian reported revenues of $113.9 million, up 11.2% year on year. This result surpassed analysts’ expectations by 4.4%. Aside from that, it was a slower quarter as it recorded a significant miss of analysts’ EBITDA and EPS estimates.
The stock is down 3.3% since reporting and currently trades at $32.33.
Read our full, actionable report on Riley Exploration Permian here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
