undamentalytics Newsletter

Oil & Gas Exploration & Production stocks

73 US-listed companies in oil & gas exploration & production, with $686.1bn of combined revenue in their latest fiscal years. Shell plc is the largest ($266.9bn). The fastest grower with at least $100m of revenue in both years is Expand Energy, up 186.3%. The median company grew 6.6% with a net margin of 12.1%.

Companies73
Combined revenue$686.1bn
Median revenue growth6.6%
Median net margin12.1%
Median return on equity10.1%
#CompanyRevenueGrowthNet marginROEFiscal year
1 Shell plcSHEL $266.9bn −6.1% 6.7% 10.1% 2025
2 Petrobras - Petroleo Brasileiro SAPBR $89.2bn −2.4% 22.0% 29.2% 2025
3 ConocoPhillipsCOP $58.9bn 7.7% 13.6% 12.4% 2025
4 Suncor Energy IncSU $37.5bn −6.4% 11.3% 13.3% 2025
5 Cenovus Energy Inc.CVE $35.6bn −10.2% 7.9% 12.9% 2025
6 Canadian Natural Resources LtdCNQ $27.8bn 6.6% 27.9% 25.9% 2025
7 EOG ResourcesEOG $22.6bn −4.5% 22.0% 16.8% 2025
8 Occidental PetroleumOXY $21.6bn −1.9% 7.5% 4.6% 2025
9 Devon EnergyDVN $17.2bn 7.8% 15.4% 17.6% 2025
10 Diamondback EnergyFANG $15.0bn 35.8% 11.1% 4.5% 2025
11 Expand EnergyEXE $12.1bn 186.3% 15.0% 10.1% 2025
12 Ovintiv Inc.OVV $8.9bn −2.7% 13.9% 11.5% 2025
13 EQT CorporationEQT $8.6bn 63.9% 23.6% 9.2% 2025
14 Antero Resources CorpAR $5.3bn 22.0% 12.0% 8.7% 2025
15 Permian Resources CorpPR $5.1bn 1.3% 18.5% 9.6% 2025
16 Chord Energy CorpCHRD $4.9bn −7.1% 0.9% 0.5% 2025
17 Matador Resources CoMTDR $3.7bn 5.5% 20.5% 14.1% 2025
18 California Resources CorpCRC $3.7bn 14.7% 9.9% 10.1% 2025
19 Crescent Energy CoCRGY $3.6bn 22.1% 3.7% 3.2% 2025
20 SM Energy CoSM $3.2bn 17.2% 20.5% 14.3% 2025
21 Range Resources CorpRRC $3.1bn 28.9% 21.1% 15.9% 2025
22 Murphy OIL CorpMUR $2.7bn −10.2% 3.8% 2.0% 2025
23 Northern OIL & GAS, Inc.NOG $2.5bn 11.2% 1.6% 1.7% 2025
24 CNX Resources CorpCNX $2.2bn 76.8% 28.3% 15.0% 2025
25 Comstock Resources IncCRK $2.2bn 77.0% 17.8% 16.2% 2025
26 Diversified Energy CoDEC $1.8bn 141.5% 18.6% 49.3% 2025
27 Talos Energy Inc.TALO $1.8bn −9.8% −27.8% −20.1% 2025
28 Gulfport Energy CorpGPOR $1.4bn 48.5% 30.1% 24.1% 2025
29 Viper Energy, Inc.VNOM $1.4bn 62.0% −4.9% −2.2% 2025
30 Magnolia Oil & Gas CorpMGY $1.3bn −0.3% 24.8% 16.4% 2025
31 Kosmos Energy Ltd.KOS $1.3bn −23.1% −54.3% −80.9% 2025
32 Vermilion Energy Inc.VET $1.3bn 11.9% −37.0% −26.2% 2025
33 Mach Natural Resources LPMNR $1.2bn 21.2% 12.2% — 2025
34 BKV CorpBKV $1.1bn 9.9% 15.7% 10.3% 2025
35 Baytex Energy Corp.BTE $1.1bn −10.0% −40.8% −18.6% 2025
36 Highpeak Energy, Inc.HPK $863m −22.7% 2.2% 1.2% 2025
37 Texas Pacific Land CorporationTPL $798m 13.1% 60.3% 37.2% 2025
38 W&T Offshore IncWTI $501m −4.5% −29.9% — 2025
39 Geopark LtdGPRK $493m −25.5% 10.1% 22.1% 2025
40 Black Stone Minerals, L.p.BSM $470m 8.4% 57.6% — 2025
41 Granite Ridge Resources, Inc.GRNT $450m 18.5% 5.4% 3.9% 2025
42 Greenfire Resources Ltd.GFR $418m −27.6% 8.1% 4.8% 2025
43 Obsidian Energy LTD.OBE $409m −25.9% 6.2% 2.5% 2025
44 TXO Partners, L.p.TXO $401m 41.8% −5.4% — 2025
45 Riley Exploration Permian, Inc.REPX $392m −4.4% 41.0% 28.1% 2025
46 Vaalco Energy IncEGY $359m −25.0% −11.5% −8.8% 2025
47 Infinity Natural Resources, Inc.INR $356m 37.6% 3.9% 9.0% 2025
48 Kimbell Royalty Partners, LPKRP $334m 7.9% 29.9% — 2025
49 Ring Energy, Inc.REI $307m −16.1% −11.3% −4.1% 2025
50 Vitesse Energy, Inc.VTS $274m 13.2% 9.2% 4.5% 2025
51 Amplify Energy Corp.AMPY $263m −10.6% 16.7% 10.1% 2025
52 Prairie Operating Co.PROP $242m 2943.8% 13.3% 35.0% 2025
53 Primeenergy Resources CorpPNRG $189m −20.5% 13.9% 12.6% 2025
54 Battalion OIL CorpBATL $166m −14.4% 7.2% — 2025
55 Sandridge Energy IncSD $156m 24.8% 44.9% 14.5% 2025
56 Dorchester Minerals, L.p.DMLP $153m −5.4% 37.5% — 2025
57 Evolution Petroleum CorpEPM $86m 0.6% −2.8% −3.7% 2026
58 Kolibri Global Energy Inc.KGEI $57m −2.1% 27.0% 7.9% 2025
59 Epsilon Energy Ltd.EPSN $52m 63.7% −11.2% −5.2% 2025
60 Pedevco CorpPED $46m 15.7% −22.6% −6.4% 2025
61 Encore Energy Corp.EU $43m −26.0% −131.7% −22.1% 2025
62 Empire Petroleum CorpEP $34m −21.6% −210.7% — 2025
63 Aleanna, Inc.ANNA $25m 1663.0% 7.2% 3.3% 2025
64 EON Resources Inc.EONR $17m −12.8% −44.1% −26.3% 2025
65 Barnwell Industries IncBRN $14m −24.2% −51.9% −70.9% 2025
66 BIG SKY Industrial Inc.BSIN $7m −64.3% −195.5% −59.4% 2025
67 Mexco Energy CorpMXC $7m −8.1% 19.9% 6.7% 2026
68 Indonesia Energy Corp LtdINDO $2m −24.6% −253.2% −26.9% 2025
69 New ERA Energy & Digital, Inc.NUAI $885,400 66.2% −3341.5% — 2025
70 CKX Lands, Inc.CKX $838,543 −44.9% 359.0% 15.0% 2025
71 Abundia Global Impact Group, Inc.AGIG $410,632 −26.7% −7172.4% — 2025
72 Trio Petroleum CorpTPET $398,734 87.0% −1826.3% −71.6% 2025
73 New Concept Energy, Inc.GBR $155,000 6.2% −29.7% −1.0% 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

Other energy industries

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.