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Exploration and production (E&P)

The 51 companies in this industry listed on the NYSE and Nasdaq are worth $611 bn combined; the largest are ConocoPhillips (COP), EOG Resources (EOG) and Occidental Petroleum (OXY). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Open contest
51 companies value 611 bn revenue 223 bn margin 15.5% free cash flow 88 bn avg. score 5.2
COP holds 28.6% of the group's value, 2.1x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 COP ConocoPhillips
United States · score 7.9
29% 175 bn 63 bn 14.7% 22 bn 12.6% 2.3% Oil, gas and LNG exploration and production · World's largest pure E&P; breakeven costs among the lowest
2 EOG EOG Resources
United States · score 7.9
14% 83 bn 27 bn 25.4% 13 bn 16.2% — Shale oil and gas exploration and production, since 1985 · The benchmark for capital discipline and return on capital in shale
3 OXY Occidental Petroleum
United States · score 6.7
10% 63 bn 24 bn 30.6% 4.8 bn 7.6% — Oil, gas, chemicals and carbon capture · Big in the Permian and in carbon capture; a major Berkshire holding
4 FANG Diamondback Energy
United States · score 7.8
9% 57 bn 17 bn 8.6% 10 bn 17.8% 2.1% Oil and gas in the Permian Basin, 97% operated · Largest independent pure-play operator in the Permian
5 DVN Devon Energy
United States · score 6.9
9% 56 bn 20 bn 16.7% 4.7 bn 8.4% 0.9% Shale oil and gas exploration and production · Diversified Permian producer with a variable dividend tied to oil
6 WDS WOODSIDE ENERGY GROUP LTD
Australia · score 7.9
7% 45 bn 13 bn 21.1% 7.2 bn 16.0% 4.5% Australian natural gas and LNG · Australia — revenue of $13bn
7 PR Permian Resources
United States · score 7.7
3% 21 bn 5.7 bn 21.5% 4.0 bn 19.2% 2.4% Oil and gas in the Permian Basin · Delaware Basin consolidator with costs among the lowest
8 OVV Ovintiv
United States · score 7.3
3% 19 bn 9.8 bn 9.4% 2.3 bn 11.7% 1.7% Oil and gas in the Permian, Montney and Anadarko · Oil and gas production in the Permian, Anadarko and Montney
9 APA APA Corp
United States · score 7.7
3% 17 bn — — 4.5 bn 26.0% 2.0% Oil and gas exploration and production, conventional and unconventional · Texas
10 SM SM Energy Co
United States · score 7.9
2% 9.3 bn 5.5 bn 18.2% 2.7 bn 29.2% 2.0% Data-intensive oil and gas exploration and production · Colorado — revenue of $5.5bn
11 CHRD Chord Energy Corp
United States · score 8.5
1% 8.4 bn 6.3 bn 13.4% 2.6 bn 30.6% 3.5% Oil and gas in the Williston Basin · Texas — revenue of $6.3bn
12 VIST Vista Energy, S.A.B. de C.V.
Mexico · score 2.2
1% 7.4 bn 2.5 bn 29.1% -0.7 bn -8.9% — Shale oil and gas in Vaca Muerta, Argentina · Mexico — revenue of $2.5bn
13 MTDR Matador Resources Co
United States · score 6.3
1% 7.1 bn 3.6 bn 19.9% 0.5 bn 7.1% 2.5% Oil and gas exploration and production in unconventional plays · Texas — revenue of $3.6bn
14 MGY Magnolia Oil & Gas Corp
United States · score 8.2
1% 6.9 bn 1.5 bn 28.8% 1.0 bn 15.0% 1.7% Oil and gas in Eagle Ford and Austin Chalk · Texas — revenue of $1.5bn
15 MUR MURPHY OIL CORP
United States · score 8.1
1% 6.1 bn 3.0 bn 9.7% 1.6 bn 25.7% 3.2% Onshore and offshore oil and gas exploration and production · Texas — revenue of $3bn
16 CRC California Resources Corp
United States · score 5.1
1% 4.8 bn 3.2 bn -3.8% 0.4 bn 8.0% 2.9% California's largest oil and gas operator · California — revenue of $3.2bn
17 CRGY Crescent Energy Co
United States · score 7.4
1% 4.5 bn 4.3 bn 1.3% 2.0 bn 43.3% 3.1% Oil and gas through acquisitions and mature field operation · Texas — revenue of $4.3bn
18 TALO TALOS ENERGY INC.
United States · score 5.2
1% 3.0 bn 2.0 bn -20.5% 0.8 bn 26.2% 0.0% Oil exploration and production in the Gulf of Mexico · Texas — revenue of $2bn
19 NOG NORTHERN OIL & GAS, INC.
United States · score 5.9
1% 3.0 bn 1.9 bn -25.4% 1.4 bn 46.7% 6.1% Non-operated interests in US oil and gas wells · Minnesota — revenue of $1.9bn
20 MNR MACH NATURAL RESOURCES LP
United States · score 7.1
0% 1.8 bn 1.4 bn 7.4% 0.6 bn 31.0% — Oil and gas in the Anadarko, with its own midstream assets · Oklahoma — revenue of $1.4bn
21 KOS Kosmos Energy Ltd.
United States · score 3.0
0% 1.7 bn 1.6 bn -34.2% 0.3 bn 17.4% — Deepwater oil exploration and production · Texas — revenue of $1.6bn
22 HPK HighPeak Energy, Inc.
United States · score 5.3
0% 1.4 bn 0.9 bn -10.3% 0.4 bn 27.3% 0.8% Oil and gas in the Midland Basin, 98% operated · Texas — revenue of $863m
23 REPX Riley Exploration Permian, Inc.
United States · score 8.1
0% 1.1 bn 0.5 bn 24.5% 0.2 bn 21.9% 3.1% Oil and gas in the Permian Basin · Oklahoma — revenue of $484m
24 INR INFINITY NATURAL RESOURCES, INC.
United States · score 8.0
0% 0.9 bn 0.5 bn 11.5% 0.3 bn 36.4% — Oil and gas in the Appalachian Basin · West Virginia — revenue of $523m
25 GPRK GeoPark Ltd
Colombia · score 3.0
0% 0.8 bn 0.5 bn 10.1% -0.1 bn -11.0% 3.2% Oil and gas exploration and production in Colombia and in Vaca Muerta, Argentina · Colombia — revenue of $493m
26 TXO TXO Partners, L.P.
United States · score 4.5
0% 0.8 bn 0.4 bn -9.2% 0.1 bn 18.2% — Conventional oil and gas, producing from acquired fields · Texas — revenue of $406m
27 VTS Vitesse Energy, Inc.
United States · score 5.4
0% 0.8 bn 0.3 bn -4.0% 0.1 bn 17.7% 11.5% Oil and gas in the Bakken, as operator and non-operator · Colorado — revenue of $284m
28 GRNT Granite Ridge Resources, Inc.
United States · score 5.8
0% 0.7 bn 0.5 bn -5.6% 0.3 bn 34.3% 7.7% Energy with operated and non-operated interests · Texas — revenue of $496m
29 EGY VAALCO ENERGY INC /DE/
United States · score 6.1
0% 0.7 bn 0.3 bn -31.1% 0.2 bn 29.4% 4.0% Oil in the Etame Marin block, in Gabon · Texas — revenue of $350m
30 WTI W&T OFFSHORE INC
United States · score 3.8
0% 0.6 bn 0.6 bn -19.3% 0.1 bn 15.2% 1.1% Oil and gas in the Gulf of Mexico · Texas — revenue of $562m
31 SOC Sable Offshore Corp.
United States · score 0.0
0% 0.6 bn 0.1 bn -313.4% -0.6 bn -91.3% — Oil and gas off the California coast · Texas — revenue of $138m
32 SD SANDRIDGE ENERGY INC
United States · score 6.9
0% 0.5 bn 0.2 bn 46.1% 0.0 bn 8.0% 4.2% Oil and gas in the US Mid-Continent, since 2006 · Oklahoma — revenue of $180m
33 GTE GRAN TIERRA ENERGY INC.
Canada · score 4.5
0% 0.4 bn 0.6 bn -40.0% 0.4 bn 108.2% — Oil exploration and production in Colombia and Ecuador · Canada — revenue of $638m
34 REI RING ENERGY, INC.
United States · score 4.9
0% 0.4 bn 0.3 bn -68.0% 0.2 bn 43.7% — Oil and gas exploration and production in the Permian Basin · Texas — revenue of $324m
35 PNRG PRIMEENERGY RESOURCES CORP
United States · score 7.3
0% 0.3 bn 0.2 bn 14.7% 0.1 bn 14.8% — Independent oil and gas exploration and production · Texas — revenue of $179m
36 FTW Presidio Production
United States · score 4.8
0% 0.3 bn — — — — — — Oil and gas from mature fields in the Anadarko Basin (Texas, Oklahoma and Kansas) · Texas
37 AMPY Amplify Energy Corp.
United States · score 5.5
0% 0.2 bn 0.2 bn 10.6% 0.0 bn 3.9% — Oil and gas with its own well operations · Texas — revenue of $213m
38 PED PEDEVCO CORP
United States · score 4.5
0% 0.2 bn 0.1 bn -14.6% 0.0 bn 16.0% — Oil and gas in New Mexico and Texas · Texas — revenue of $116m
39 EPM EVOLUTION PETROLEUM CORP
United States · score 5.2
0% 0.2 bn 0.1 bn -2.8% 0.0 bn 15.6% 11.3% Oil and gas from mature fields, focused on distributions · Texas — revenue of $86m
40 EPSN Epsilon Energy Ltd.
United States · score 4.7
0% 0.2 bn 0.1 bn -13.4% 0.0 bn 14.3% — Onshore natural gas and oil in North America · Texas — revenue of $68m
41 KGEI Kolibri Global Energy Inc.
United States · score 2.2
0% 0.2 bn 0.1 bn 27.0% -0.0 bn -8.5% — Shale oil in the Tishomingo field, in Oklahoma · California — revenue of $57m
42 BATL BATTALION OIL CORP
United States · score 4.3
0% 0.1 bn 0.2 bn -24.5% 0.0 bn 46.7% — Oil and gas, successor to Halcón Resources · Texas — revenue of $163m
43 EP EMPIRE PETROLEUM CORP
United States · score 0.0
0% 0.1 bn 0.0 bn -229.6% -0.0 bn -4.4% — Independent energy focused on already developed assets · Oklahoma — revenue of $31m
44 BSIN BIG SKY INDUSTRIAL INC.
United States · score 0.3
0% 0.1 bn 0.0 bn -155.3% 0.0 bn -5.6% — Industrial gases, oil and natural gas · Texas — revenue of $7m
45 GLND Greenland Energy Co
United States · score 5.3
0% 0.1 bn — — — — — — Oil exploration in Greenland (Jameson Land Basin), still pre-revenue · Texas
46 PROP Prairie Operating Co.
United States · score 4.5
0% 0.0 bn 0.3 bn -13.0% 0.2 bn 590.2% — Oil and gas in the DJ Basin, in Colorado · Texas — revenue of $343m
47 EONR EON Resources Inc.
United States · score 0.0
0% 0.0 bn 0.0 bn -83.7% -0.0 bn -25.7% — Oil and gas on 13,700 acres in the Permian · Texas — revenue of $13m
48 MXC MEXCO ENERGY CORP
United States · score 7.0
0% 0.0 bn 0.0 bn 23.1% 0.0 bn 19.2% 1.0% Oil and gas in West Texas · Texas — revenue of $7m
49 BRN BARNWELL INDUSTRIES INC
United States · score 0.0
0% 0.0 bn 0.0 bn -46.7% 0.0 bn -11.4% — Oil and gas in Canada and the US, and land in Hawaii · Texas — revenue of $12m
50 INDO Indonesia Energy Corp Ltd
Indonesia · score 0.0
0% 0.0 bn 0.0 bn -152.6% -0.0 bn -13.1% — Oil and gas in Indonesia · Indonesia — revenue of $3m
51 TPET Trio Petroleum Corp
United States · score 0.0
0% 0.0 bn 0.0 bn -818.2% 0.0 bn -38.3% — Oil and gas exploration in California, Utah and Saskatchewan · Florida

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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