Three of the top four and six of the top ten public onshore exploration and production companies in the U.S. lower 48 for 2025 name the Permian Basin as their primary operating region, according to Enverus. ExxonMobil (Permian) leads the ranking again at 1.95 million boed followed by Expand Energy (eastern U.S., formerly Chesapeake Energy) at 1.75 million boed and ConocoPhillips (Permian), which climbed three positions to claim the No. 3 spot at 1.42 million boed. The rankings are based on gross operated production.
Enverus said production trends reinforce how concentrated the U.S. energy supply is becoming at the top. The report issued Jan. 21 said, “Strong Permian exposure, scale advantages, ongoing energy consolidation, and increasing rig efficiency help explain why the largest operators continue to widen the gap.”
Other Permian operators in the top 10 are Occidental Petroleum (4th at 1.29 million boed), Devon Energy (8th at 1.001 million boed), Midland’s Diamondback Energy (9th at 973,766 boed) and Coterra Energy (10th at 911,413 boed).
Also in the top 50 are 12 Permian Resources, 17 Ovintiv, 20 APA Corp., 22 SM Energy, 23 Matador Resources, 26 Vital Energy, 34 Highpeak Energy, 35 Kinder Morgan, 39 Riley Exploration Permian, 43 Ring Energy and 47 Battalion Oil.
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