Which U.S. oil major produced the most in 2025 – ExxonMobil, Chevron, or ConocoPhillips?
Well, according to their recently released 2025 results statements, ExxonMobil took top spot, with 4.736 million barrels of oil equivalent per day, followed by Chevron, with 3.723 million barrels of oil equivalent per day, and ConocoPhillips, with 2.375 million barrels of oil equivalent per day.
Exxon’s 2025 production figure was up from its 2024 production figure of 4.333 million barrels of oil equivalent per day, the company’s results statement showed. Chevron and Conoco’s 2025 production figures also marked increases compared to 2024 output. Chevron reported oil equivalent production of 3.338 million barrels in 2024 in its latest results and Conoco reported net oil equivalent output of 1.987 million barrels per day in 2024 in its 2025 results statement.
ExxonMobil
ExxonMobil noted, in its 2025 results, that full year net production reached its highest level in more than 40 years at 4.7 million oil equivalent barrels per day.
“Production from the Permian, at 1.6 million oil equivalent barrels per day, and Guyana, which exceeded 700,000 gross barrels per day, achieved annual records,” the company highlighted.
“Advantaged assets in the Permian, Guyana, and LNG represented 59 percent of production in 2025, an increase of approximately seven percentage points from 2024,” it added.
Exxon pointed out in its results statement that net production in the fourth quarter reached 5.0 million oil equivalent barrels per day, “with advantaged assets setting new quarterly production records, including 1.8 million oil-equivalent barrels per day in the Permian and Guyana approaching 875,000 gross barrels per day”.
Chevron
Chevron highlighted in its latest results that its worldwide and U.S. net oil equivalent production “set annual records”.
“For 2025, the Hess acquisition contributed 261,000 barrels of oil equivalent per day, while legacy Chevron operations added another 124,000 barrels of oil equivalent per day, driven by growth in the Permian Basin and project ramp-ups at TCO and in the Gulf of America,” the company stated.
Mike Wirth, Chevron’s chairman and CEO, said in the company’s latest results statement that 2025 “was a year of significant achievement”.
“We successfully integrated Hess, started-up major projects, delivered record production and reorganized our business,” he added.
ConocoPhillips
In its latest results statement, ConocoPhillips highlighted that it delivered full year total company and Lower 48 production of 2.375 million barrels of oil equivalent per day and 1.484 million barrels of oil equivalent per day, respectively, outlining that both were “consistent with guidance” and that production “reflects 2.5 percent total company underlying growth”.
ConocoPhillips Chairman and CEO Ryan Lance said in the statement that the company “delivered another year of strong performance in 2025”, adding that ConocoPhillips “outperformed” its “initial production, capital, and cost guidance; successfully integrated Marathon Oil … ; and made strong progress on … incremental cost reduction and margin enhancement efforts”.
The company pointed out in its statement that its production for 2025 marked an increase of 388,000 barrels of oil equivalent per day from the prior year. After adjusting for impacts from closed acquisitions and dispositions, production increased by 57,000 barrels of oil equivalent per day, or 2.5 percent, from the year ago figure, ConocoPhillips outlined.
ExxonMobil and Chevron both released their most recent results statements on January 30. ConocoPhillips released its results statement on February 5.
For the full year 2025, ExxonMobil reported earnings of $28.8 billion. Chevron reported total earnings of $12.29 billion in 2025, and ConocoPhillips reported earnings of $7.98 billion in 2025.
In a BofA Global Research report sent to Rigzone back in January, analysts offered a comparison of global “big oil” companies. To see that comparison, click here.
To contact the author, email andreas.exarheas@rigzone.com
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