Last year, the U.S. upstream story was easy to tell.
More jobs. More efficiency. Record production.
This year, the signals are more complex.
On March 5th, Third Party Opinion returns with a focused discussion on what is changing inside U.S. upstream and across the global energy landscape.
After unprecedented efficiency gains, activity patterns are evolving.
Equipment utilization is shifting.
Capital allocation conversations are changing tone.
Global demand signals are interacting with domestic capacity in new ways.
Is this a pause?
A reset?
Or the early stages of a structural transition?
Matt Johnson will unpack what the data is revealing and what it may imply for operators, service companies, and investors navigating 2026.
Energy markets do not operate in isolation.
Venezuela is reentering the discussion.
The Middle East is adjusting relationships and output strategies.
Trade flows and geopolitical alignments are evolving.
Mark Rossano will connect these developments to the U.S. upstream outlook and the broader global oil and gas narrative.
A Third Party Opinion subscription is $500 for the year and includes:
This is not just event access. It is ongoing visibility into U.S. activity and forward-looking insight.
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Third Party Opinion does not follow market narratives.
It tests them.
Every session is built around one principle: measurable signals matter more than headlines.
Across prior discussions, Primary Vision focused on what the data was showing before it became consensus.
We highlighted the conditions setting up a resurgence in BPX Energy well before the broader equity narrative shifted.
We demonstrated how the Frac Job Count continued to signal underlying completion strength, cutting through tariff uncertainty, macro volatility, and negative sentiment to remain directionally correct through most of 2025, culminating in U.S. production records.
We examined the Japanese bond market not as a distant macro curiosity, but as a capital flow signal with real implications for risk appetite and energy-linked equities.
On the operational side, we addressed the decline in the Frac Spread Count and clarified what it actually meant for horsepower utilization. Rather than treating falling spreads as a simple bearish headline, we separated structural efficiency gains from real capacity pressure and pricing dynamics.
These were not isolated calls.
They were the result of a disciplined, data driven methodology designed to identify inflection points before they are widely recognized.
Third Party Opinion has become a forum where analysts, executives, and investors step back from the noise to understand what is happening beneath the surface.
Early 2026 is producing signals that will matter for operators, service companies, and capital allocators alike. The question is not whether they will appear in the data. The question is whether they will be interpreted correctly.
This session is for those who prefer to understand the shift before it becomes the headline.
Secure your access below and join the live discussion.