ExxonMobil Tops 2025 E&P Rankings as Permian Dominance Deepens
Event summary
- ExxonMobil leads 2025 E&P rankings with 1.95 MMboe/d, followed by Expand Energy (1.75 MMboe/d) and ConocoPhillips (1.42 MMboe/d).
- Six of the top 10 operators list the Permian Basin as their primary region.
- ConocoPhillips, EQT, Crescent Energy, Range Resources, Chord Energy, and CNX Resources posted notable year-over-year climbs.
- New entrants include BKV Corporation, TXO Partners, Infinity Natural Resources, and Prairie Operating.
The big picture
The 2025 E&P rankings highlight the increasing concentration of U.S. energy supply at the top, driven by strong Permian exposure, scale advantages, and ongoing consolidation. The ability to integrate assets and optimize multi-basin strategies is becoming a defining advantage for public operators, reshaping the competitive landscape.
What we're watching
- Permian Dominance
- How the Permian Basin's role as the center of U.S. oil and gas production will affect future consolidation and operational strategies.
- Scale Advantages
- Whether the largest operators can sustain their widening gap through continued rig efficiency and asset integration.
- Multi-Basin Strategies
- The pace at which operators adopt advanced analytics and optimize multi-basin development strategies to maintain competitive positioning.
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