To compile the Top 20 Oil Producing Companies in the US, we selected the largest companies operating in the US oil industry based on their 2023 revenues.
Top 20 Oil Producing Companies in the US by 2023 revenues
ConocoPhillips and Marathon Oil Corp. multi-basin portfolio
ConocoPhillips’ market value is over $155 billion, making it one of the largest U.S. oil and gas producers. Marathon Oil adds its multi-basin portfolio, particularly strengthening ConocoPhillips’ presence in the Eagle Ford, Bakken, Delaware Basin, and Anadarko Basin.
Potential deal for Double Eagle Energy Holdings IV
Double Eagle, an oil and gas developer, is considering the sale of its Permian Basin-based producer, reported Reuters, citing sources.
HIBERNIA RESOURCES IV buys Legacy Reserves (Revenir Energy Inc) Permian Oil & Gas Facilities
Last week the Texas Commission on Environmental Quality (TCEQ) approved the transfer of 33 air permits related to oil & gas facilities from LEGACY RESERVES OPERATING LP to HIBERNIA RESOURCES IV, LLC. The counties include Howard & Martin.
BPX is focusing more on the liquid-rich areas of the Permian
During the BP Q1 2024 Results Call, Murray Auchincloss and Kate Thomson provided several updates and insights regarding BPX operations in the Permian Basin: Oil & Gas Data Download BPX Wells Drilled Since 2023 BPX Permian Basin Plan Murray Auchincloss expressed confidence in BPX’s growth and productivity, highlighting the strong…
Permian Basin may soon face a peak oil output
The increasing gassiness of the Permian Basin poses challenges for upstream oil production but presents significant opportunities for midstream companies.
Break-even for existing wells in the Delaware and Midland are $31 per barrel and $38 per barrel
According to Statista, the break-even WTI oil prices for existing wells in the Delaware and Midland sub-basins are $31 per barrel and $38 per barrel, respectively. For new wells, the break-even prices are $64 per barrel and $62 per barrel, respectively.
ConocoPhillips to acquire Marathon Oil Corporation in all-stock transaction
ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) have entered into a definitive agreement for ConocoPhillips to acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt.
Diamondback Energy, Inc. Announces Sale of WTG Midstream
Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) today announced the sale of WTG Midstream Holdings LLC to Energy Transfer LP
Matador Resources Midstream
Ensuring flow assurance in the Delaware Basin is crucial due to capacity limitations. Matador has secured firm transport agreements on takeaway pipelines to mitigate risks associated with negative pricing at Waha and ensure that their gas can be sold.