Enverus releases Top 50 Public E&P Operators of 2024

Oilpatch mergers reshape rankings, but the Permian remains king. Despite drops in rig count, enhanced efficiencies drive production growth.

AUSTIN, Texas, Jan. 8, 2025 /PRNewswire/ -- Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released its list of the most prolific 50 public oil and gas operators in the U.S. based on gross operated production last year.

"Last year, the top 10 public operators represented 56% of production out of the Top 50 on a boe/d basis. Due to mergers, we see that same figure jump to 62% of production in part due to Pioneer Natural Resources joining ExxonMobil, and Chesapeake and Southwestern rolling together into the newly formed Expand Energy," said Manuj Nikhanj, CEO of Enverus.

"It's clear that the Permian is still the king, and the most active region operated by the Top 50 operators. Seven of the top 10 have the Permian as their most active region. Volume-wise, the Permian also dominates the rankings – 81% of oil production and 40% of gas production from the Top 50 names comes from this one basin," said Nikhanj.

"A snapshot of rig counts provide some color on operator sentiment, too. The Top 50 names were running a total of 298 rigs at the time of list compilation, compared to 322 from the prior year at a similar point in time. Notwithstanding the pull back, the approximately 10% increase in rig efficiency over this period is driving production growth, even at lower activity levels," Nikhanj said.

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This Top Public Operators list, compiled utilizing Enverus Foundations® data, factors in last year's mergers and features well breakdown by oil, liquids and gas production, total company well counts and recent rig count changes. The list was featured in Upstream Pulse from Enverus, a bi-monthly report that covers exploration and production, deals and capital markets for the North American and global oil and gas sector.

Methodology: Production and ranking for both 1H24 and 2023 include all gross operated production from assets and companies acquired up to and including Oct. 1, 2024, as accounted for in Enverus' platform; as a result, all changes in rankings are based on organic production changes on the post-transacted assets. Oil production includes condensate. Primary Enverus Region refers to the region with the highest contribution to production and ranking in this table, not necessarily for the company as a whole. Rig numbers are as of Nov. 19, 2024. Numbers are subject to change because of lags in reporting.

About Enverus
Enverus is the most trusted energy-dedicated SaaS company, with a platform built to maximize value from generative AI, offering anytime, anywhere access to analytics and insights. These include benchmark cost and revenue data sourced from more than 95% of U.S. energy producers and more than 40,000 suppliers. Our platform, with intelligent connections, drives more efficient production and distribution, capital allocation, renewable energy development, investment and sourcing. Our experienced industry experts support our customers through thought leadership, consulting and technology innovations. We provide intelligence across the energy ecosystem: renewables, oil and gas, financial institutions, and power and utilities, with more than 6,000 customers in 50 countries. Learn more at Enverus.com.

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SOURCE Enverus