RSS feed source: National Institute of Standards & Technology
In-brief analysis
September 22, 2026
Data source: Enverus
Note: Crude oil and natural gas production in barrels of oil equivalent
Publicly traded companies represent a tiny share of the total number of companies producing crude oil and natural gas in the United States, but they make up a large share of U.S. production. In 2025, publicly traded companies accounted for just 2% of about 12,000 oil and natural gas producers but produced 68% of the crude oil and natural gas in the Lower 48 states.
Massive scale, prime drilling locations, and advanced technologies help publicly traded oil and gas producers maintain their edge on production. Publicly traded companies generally report lower breakeven prices—the minimum price needed to cover operating costs—than privately held companies. These lower breakeven prices are driven in part by higher-quality
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