(WO) – Enverus has released its ranking of the Top 50 U.S. public onshore E&P operators for 2025, highlighting growing production concentration among the largest players and the continued dominance of the Permian basin.
Image: ExxonMobil
ExxonMobil retained the No. 1 position with 1.95 MMboe/d of gross operated production, followed by Expand Energy at 1.75 MMboe/d and ConocoPhillips, which climbed three spots to No. 3 at 1.42 MMboe/d. Six of the top 10 operators list the Permian basin as their primary operating region.
According to Enverus, scale advantages, basin concentration, consolidation activity and improved drilling efficiency continue to widen the gap between top-tier operators and the rest of the field. Several companies—including ConocoPhillips, EQT, Range Resources and CNX Resources—posted notable year-over-year gains, while new entrants reflect ongoing portfolio reshaping across the Lower 48.
The rankings are based on gross operated production and incorporate recent mergers, asset integrations and rig activity trends using Enverus Foundations data.
