Themes / Group
Active · established relationshipLatest completed snapshot · Jul 14 · 18:03 ET

MARKET-DISCOVERED GROUP

Oil & Gas E&P

THE TRADER READShared activity without a clean directional read

Price direction is split across 11 measured members. Capital-flow agreement is 30%, so the basket is not yet clean.

Price breadth5 up · 6 downRelative median unavailable
Capital-flow alignment30%Price breadth is not yet confirmed by flow
Activity nowHotActivity score 67/100 · lift 1.3×
Evidence depth1 episodeLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

0 timed events
TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

TUE, FEB 10AM filing documented shared operating contextcredit / rates affecting interest expense · date precision only

TUE, AUG 4WES filing documented shared operating contextcredit / rates affecting interest expense · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
Price sequence unavailableA timestamped price sequence is unavailable.
RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

14/15 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across BKV, CRK, EQT, HESM, INR, KMI, RRC, SUN, TRGP.

credit / rates affecting interest expense

Net cash provided by operating activities decreased for the six months ended June 30, 2026, primarily due to (i) the impact of changes in assets and liabilities, including as a result of the West Texas complex gas-gathering agreement amendment replacing cost-of-service fees with fixed fees (see Executive Summary within this Item 2), (ii) higher interest expense, and (iii) lower distributions from equity-investment earnings; all partially offset by higher cash operating income.

WES 10-Q · 2026-08-05
demand / volume

Other revenues from customers Other revenues from customers increased by $49.0 million for the three months ended June 30, 2026, primarily due to increases of (i) $16.0 million at the DJ Basin complex due to increased average prices and volumes sold, (ii) $12.7 million at the West Texas complex due to increased average prices, partially offset by lower volumes sold, (iii) $9.9 million at the Chipeta complex due to increased volumes sold, and (iv) $7.1 million due to the acquisition of the Comanche complex.

WES 10-Q · 2026-08-05
capital investment / capacity affecting capex

This amount was partially offset by a $47.6 million increase in Adjusted EBITDA and an $8.6 million decrease in cash paid for maintenance capital expenditures.

WES 10-Q · 2026-05-06
CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

TALONot confirming

EQT · text peer

SMNot confirming

RRC · text peer

MNRNot confirming

EQT · text peer

CNXNot confirming

RRC · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
WESEQTARRRCBKVCRKKMISDSOBOHESMTRGPINRAMDECSUN

11/15 active5 rising · 6 falling

MemberUnusual activityToday's moveRead now
WESWestern Midstream Partners, LP
Most unusual · 100/100
-0.5%
Active; unclassifiedActive in 66.7% of observed group sessions
EQTEQT Corporation
Elevated · 98/100
-0.3%
Flow divergenceActive in 33.3% of observed group sessions
ARAntero Resources Corporation
Elevated · 92/100
+0.7%
Flow divergenceActive in 100% of observed group sessions
RRCRange Resources Corporation
Elevated · 91/100
+0.9%
Flow divergenceActive in 66.7% of observed group sessions
BKVBKV Corporation
Elevated · 79/100
Active; unclassifiedActive in 33.3% of observed group sessions
CRKComstock Resources, Inc.
Elevated · 62/100
+2.9%
Active; unclassifiedActive in 0% of observed group sessions
KMIKinder Morgan, Inc.
Elevated · 50/100
-2.0%
Flow divergenceActive in 0% of observed group sessions
SDSandRidge Energy, Inc.
Elevated · 48/100
Active; unclassifiedActive in 66.7% of observed group sessions
SOBOSouth Bow Corporation
Elevated · 47/100
-1.8%
Active; unclassifiedActive in 0% of observed group sessions
HESMHess Midstream LP
Elevated · 44/100
+0.2%
Active; unclassifiedActive in 33.3% of observed group sessions
TRGPTarga Resources Corp.
Elevated · 40/100
-1.0%
Flow divergenceActive in 0% of observed group sessions
INRInfinity Natural Resources, Inc
Quiet · 38/100
Watch / laggardActive in 33.3% of observed group sessions
AMAntero Midstream Corporation
Quiet · 37/100
-0.5%
Watch / laggardActive in 0% of observed group sessions
DECDiversified Energy Company
Quiet · 29/100
Watch / laggardActive in 66.7% of observed group sessions
SUNSunoco LP
Quiet · 27/100
+0.2%
Watch / laggardActive in 0% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
WESWestern Midstream Partners, LPMost unusual-0.5%66.7% of 3 sessionsMost unusual activity in this snapshot; performance direction may differ.
EQTEQT CorporationParticipating-0.3%33.3% of 3 sessionsPrice participation with distributing signed flow.
ARAntero Resources CorporationParticipating+0.7%100% of 3 sessionsPrice participation with distributing signed flow.
RRCRange Resources CorporationParticipating+0.9%66.7% of 3 sessionsPrice participation with distributing signed flow.
BKVBKV CorporationParticipating33.3% of 3 sessionsPrice participation is not yet confirmed by per-name flow.
CRKComstock Resources, Inc.Participating+2.9%0% of 3 sessionsPrice participation is not yet confirmed by per-name flow.
KMIKinder Morgan, Inc.Participating-2.0%0% of 3 sessionsPrice participation with distributing signed flow.
SDSandRidge Energy, Inc.Participating66.7% of 3 sessionsPrice participation is not yet confirmed by per-name flow.
SOBOSouth Bow CorporationParticipating-1.8%0% of 3 sessionsPrice participation is not yet confirmed by per-name flow.
HESMHess Midstream LPParticipating+0.2%33.3% of 3 sessionsPrice participation is not yet confirmed by per-name flow.
TRGPTarga Resources Corp.Participating-1.0%0% of 3 sessionsPrice participation with distributing signed flow.
INRInfinity Natural Resources, IncQuiet / lagging33.3% of 3 sessionsNot participating yet; a breadth test or a genuine divergence.
AMAntero Midstream CorporationQuiet / lagging-0.5%0% of 3 sessionsNot participating yet; a breadth test or a genuine divergence.
DECDiversified Energy CompanyQuiet / lagging66.7% of 3 sessionsNot participating yet; a breadth test or a genuine divergence.
SUNSunoco LPQuiet / lagging+0.2%0% of 3 sessionsNot participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Only point-in-time live watcher observations and conservative same-day EOD observations are included. Later backfills and replay runs are excluded.
Low structural sample

One continuous episode spans 3 active sessions; the independent episode sample remains low—context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support4 daysHow often the cohort identity was observed
Completed episodes1Separate periods of broad group activity
Active sessions3Completed session observations, not trades
2026-07-07 → 2026-07-103 active sessions11.1% composition consistency through the episode
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
AR100% · 1 episode
DEC66.7% · 1 episode
RRC66.7% · 1 episode
SD66.7% · 1 episode
WES66.7% · 1 episode
BKV33.3% · 1 episode
EQT33.3% · 1 episode
HESM33.3% · 1 episode
INR33.3% · 1 episode
AM0% · 0 episodes
CRK0% · 0 episodes
KMI0% · 0 episodes
SOBO0% · 0 episodes
SUN0% · 0 episodes
TRGP0% · 0 episodes