The US oil and gas industry is marked by the presence of some of the leading global energy companies. By deploying new technologies, the American oil and gas companies have significantly increased their exploration and production activities over the past few years. The activities have resulted in a manifold expansion in the country’s oil and gas reserves.
With 10.4tcm of proven reserves, the US holds the world's fourth largest natural gas reserves. The country’s major shale formations include The Barnett play located in Texas and Montana, Haynesville play in the Texas-Louisiana Salt Basin, Marcellus Shale play in the Appalachian Basin, Fayetteville play, Woodford play in Oklahoma and Texas and the Eagle Ford play.
Here is the list of major oil and gas companies in the US:
ExxonMobil: With headquarters in Irving, Texas, ExxonMobil was formed in November 1999 following the merger of Exxon and Mobil. The company has presence in both upstream and downstream businesses. The company derives more than two-thirds of its revenue from upstream operations. In the US, its oil exploration and production activities are mainly concentrated in the Permian Basin, Bakken Formation, Woodford Shale, Caney Shale, and the Gulf of Mexico. It earned a revenue of $218.6bn in 2016.
Chevron: Headquartered in San Ramon, California, Chevron is one of the major oil and gas companies with presence in over 180 countries. Its activities span across oil, natural gas, and geothermal energy industries. It is involved in exploration, production, refining, marketing and transportation of hydrocarbons. Chevron has major operations in west coast of North America, the US Gulf Coast, Southeast Asia, South Korea, Australia and South Africa. It also produces and sell products such as fuels, lubricants, additives and petrochemicals. For the year ending 31 December 2016, Chevron’s revenue stood at $114.4bn.
Image: Chevron Corporation headquarters in San Ramon, California. Photo courtesy of Coolcaesar/Wikipedia.
ConocoPhillips: Formed as a result of merger between American oil companies Conoco and Phillips Petroleum in August 2002, ConocoPhillips is an American multinational energy corporation with its headquarters in Houston, Texas. It is involved in exploring, developing and producing oil and natural gas globally. With a presence across 17 countries, the company employs more than 12,200 people, according to its website. In August 2017, ConocoPhillips has completed the sale of its San Juan Basin assets in the US state of New Mexico for $3bn to Hilcorp San Juan. In 2016, it earned a revenue of $24.3bn.
Devon Energy: With a focus on onshore exploration and production in North America, Devon Energy is an independent natural gas, natural gas liquids, and petroleum producer. With headquarters in Oklahoma City, Oklahoma, the company’s total proved reserves stood at 2,058 billion barrels of oil equivalent as of December 31, 2016. A significant part of its proved reserves are in Barnett Shale, Delaware Basin, Eagle Ford shale, and STACK Formation in Oklahoma. It recorded a revenue of nearly $12. 2bn for the year ending December 2016.
Image: Drilling a horizontal shale gas well in Appalachia. Photo courtesy of Meredithw/Wikipedia.
Occidental Petroleum: Headquartered in Houston, Texas, Occidental Petroleum (Oxy) is an American multinational oil and gas exploration and production company. The company has significant oil and gas operations in the US, the Middle East, and Latin America. As of 31 December 2016, its net proven reserves stood at 2.406 billion barrels of oil equivalent. It production was 630 thousand barrels of oil equivalent in 2016. Occidental is a major operator and oil producer in the Permian Basin. for the year ending December 2016, its revenue was $10bn.
Anadarko Petroleum: With proven reserves of nearly 1.722 billion barrels of oil equivalent as of 31 December 2016, Anadarko Petroleum is one of the leading American petroleum and natural gas exploration and production companies. Headquartered in two skyscrapers in The Woodlands, Texas, the company is also involved in the gathering, processing, and treating of natural gas, and the transporting of natural gas, crude oil, and natural gas liquids. Anadarko Petroleum’s US operations accounted for 89% of its total sales volumes in 2016. In the US, its properties are located in Rocky Mountains, Southern and Appalachia Region, Gulf of Mexico, and Alaska North Slope. For the year ending December 2016, the company earned a revenue of $8.4bn.
Image: Anadarko Tower, as seen at sunrise. Photo courtesy of Trey Perry/Wikipedia.
EOG Resources: Headquartered in the Heritage Plaza building in Houston, Texas, EOG Resources is one of the major American petroleum and natural gas exploration companies. Its reserves are in the US, Canada, Trinidad, the United Kingdom, and China. Its proven reserves stood at 2.118 billion barrels of oil equivalent as of 31 December 2016. The company owns assets in Eagle Ford Shale, Delaware Basin, Permian Basin, and Rocky Mountains. In September last year, EOG Resources signed agreements to acquire privately held Yates Petroleum for $2.5bn in a bid to significantly expand its footprint in Permian basin. In 2016, it earned a revenue of $7.6bn.
Pioneer Natural Resources: Based in Irving, Texas, Pioneer Natural Resources Company is an American petroleum, natural gas, and natural gas liquids exploration and production company. With all of its reserves present in the US, the company holds a significant acreage in the Cline Shale. The company’s proved reserves stood at 725 million barrels of oil equivalent as of 31 December 2016. Its production was 233 thousand barrels of oil equivalent last year. It posted a revenue of $3.8bn in 2016.