Top 20 Oil and Gas Companies in the USA by Market Cap (Updated for 2026)
Editor's Note: This data has been completely updated for Q1 2026 to reflect the historic wave of recent industry mega-mergers—including ExxonMobil’s acquisition of Pioneer, Chevron’s acquisition of Hess, and the formation of Expand Energy—along with the latest market capitalization data.
Introduction
The oil and gas industry plays a critical role in the U.S. economy, providing energy security, driving global trade, and employing millions. In 2026, this sector remains an absolute powerhouse, having just undergone a historic wave of consolidation that reshaped the global competitive landscape.
Market capitalization (market cap) is a key measure of a company's total equity value, determined by multiplying the current share price by the number of outstanding shares. It helps B2B buyers, investors, and analysts gauge a supplier's financial strength, stability, and scale. In this article, Exporters Worlds presents the definitive 2026 ranking of the top 20 U.S. oil and gas exploration and production companies by market cap.
Criteria for Ranking
What is market capitalization? Market capitalization represents the total dollar market value of a publicly traded company's outstanding shares. It reflects investor confidence and financial stability. Companies with higher market caps are generally more stable, have greater access to capital for innovation, and can handle the massive logistics required for global exports.
Data Sources and Methodology Our rankings are based on market capitalization data sourced from reputable financial reports, stock market platforms, and industry analysts. The figures provided reflect Q1 2026 valuations and exclusively focus on upstream exploration and production (E&P) entities.
Top 20 Oil and Gas Companies in the USA by Market Cap (2026)
1. Exxon Mobil Corporation ($613.7B) ExxonMobil remains the undisputed giant of U.S. energy. Following its massive acquisition of Pioneer Natural Resources, Exxon has solidified its dominance in the Permian Basin alongside its vast global upstream and downstream operations.
2. Chevron Corporation ($370.3B) Chevron continues to be a premier global player. With the successful integration of Hess Corporation into its portfolio, Chevron has significantly expanded its footprint in both U.S. shale and offshore Guyana.
3. ConocoPhillips ($135.1B) Specializing purely in exploration and production, ConocoPhillips recently expanded its massive low-cost resource base by successfully acquiring and integrating Marathon Oil.
4. EOG Resources, Inc. ($66.3B) EOG remains a top independent producer of crude oil and natural gas, renowned for its highly efficient, technology-driven drilling operations across major U.S. shale plays.
5. Occidental Petroleum Corporation ($51.1B) Occidental (Oxy) is a major force in the Permian Basin. Following its acquisition of CrownRock, the company has bolstered its energy production while leading the industry in direct air capture and carbon management.
6. Diamondback Energy, Inc. ($50.4B) Diamondback has expanded rapidly to become a Permian powerhouse, recently acquiring Endeavor Energy Resources to focus on low-cost, high-efficiency crude production.
7. Cheniere Energy, Inc. ($47.5B) As the largest producer of liquefied natural gas (LNG) in the United States, Cheniere is critical to global energy security and U.S. export capabilities.
8. EQT Corporation ($36.6B) EQT stands as a titan of U.S. natural gas production, focusing heavily on efficient, sustainable extraction from Appalachia's massive shale formations.
9. Texas Pacific Land Corporation ($29.8B) A highly unique entity, Texas Pacific profits primarily from land royalties, water services, and leases, directly benefiting from rampant oil and gas drilling activities in the Permian.
10. Devon Energy Corporation ($28.0B) Devon maintains a highly disciplined presence in North America's premier shale basins, prioritizing efficient drilling, strong cash flow, and low-cost extraction.
11. Expand Energy Corp ($25.9B) Formed by the blockbuster 2024 merger of Chesapeake Energy and Southwestern Energy, Expand Energy is now the largest independent natural gas producer in North America.
12. Coterra Energy Inc. ($23.9B) Operating across the Permian, Marcellus, and Anadarko basins, Coterra Energy is a highly diversified and significant producer of both natural gas and crude oil.
13. Viper Energy Partners ($15.9B) A subsidiary of Diamondback Energy, Viper Energy focuses on owning and acquiring mineral and royalty interests in oil and natural gas properties.
14. Permian Resources ($14.3B) As a rapidly growing independent producer, Permian Resources focuses entirely on high-return, pure-play asset development in the Delaware Basin.
15. Ovintiv Inc. ($12.0B) Ovintiv is known for its strategic multi-basin operations across the U.S. and Canada, heavily focused on maximizing capital efficiency in shale development.
16. Antero Resources Corporation ($10.7B) A leading producer of natural gas and natural gas liquids (NGLs), Antero holds a commanding and highly profitable footprint in the Marcellus and Utica shales.
17. APA Corporation ($9.9B) The parent company of Apache, APA Corporation continues to balance domestic U.S. shale production with lucrative global offshore exploration ventures.
18. Range Resources Corporation ($8.9B) Range Resources is a long-standing pioneer in shale gas production, focusing almost exclusively on its massive inventory in the Appalachian Basin.
19. Matador Resources Company ($5.9B) Matador specializes in the exploration, development, and production of oil and natural gas, primarily focused on the oil-rich Delaware Basin.
20. Chord Energy ($5.8B) Operating heavily in the Williston Basin, Chord Energy is a key independent producer known for robust free cash flow and strategic oil extraction.
Factors Influencing Market Capitalization in 2026
1. Historic Industry Consolidation The massive wave of M&A activity over the last two years has heavily concentrated market caps at the top, allowing mega-cap companies to achieve unprecedented economies of scale.
2. Global Oil and Gas Prices Commodity prices directly impact valuation. Higher prices boost revenue and free cash flow, while volatility tied to global geopolitical events can rapidly shift market caps.
3. Technological Advancements Innovations in AI-driven fault detection, enhanced hydraulic fracturing, and low-carbon integration dictate which companies grow efficiently and maintain investor confidence.
How to Choose the Best Oil and Gas Companies for Import
Sourcing energy products internationally requires partnering with a B2B supplier who guarantees consistent quality, supply chain resilience, and competitive pricing. Follow these actionable steps to help your procurement team select the ideal partner:
1. Conduct Thorough Market Research Evaluate U.S.-based firms that have a proven track record of exporting to your specific region. Leveraging trusted B2B platforms like Exporters Worlds allows you to quickly identify, filter, and connect with highly rated suppliers.
2. Confirm Quality and Certifications Guarantee that any potential partner adheres strictly to international safety and environmental benchmarks, including API and ISO standards. Their energy commodities—whether natural gas, refined fuels, or crude—must strictly meet your local import regulations.
3. Analyze Costs and Contracts Sourcing bulk energy requires aggressive negotiation. Solicit multiple quotes to secure the most cost-effective pricing, and scrutinize all contract variables, from payment structures to long-term delivery commitments, before finalizing any agreement.
4. Assess Supply Chain and Logistics Exporting fuel demands robust infrastructure. Partner exclusively with companies boasting seamless midstream capabilities, established shipping routes, and extensive experience navigating complex export documentation and customs clearance.
5. Prioritize ESG and Sustainability Forward-thinking suppliers investing heavily in emissions reduction and eco-friendly practices are often the most reliable. A strong commitment to Environmental, Social, and Governance (ESG) standards signals long-term corporate stability and a better long-term business relationship.
Why Choose Exporters Worlds?
Exporters Worlds exists to streamline your international procurement by linking you directly with thoroughly vetted suppliers. From securing wholesale diesel fuel and raw energy to negotiating terms for various industrial and agricultural commodities, our B2B marketplace is designed to deliver transparent, secure, and highly efficient transactions.
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Frequently Asked Questions
1. Which company is the largest oil and gas producer in the U.S.?
ExxonMobil holds the title of the largest American energy corporation. Thanks to massive recent strategic acquisitions, it maintains a commanding lead in both market capitalization and total revenue, sitting comfortably ahead of Chevron, its nearest domestic rival.
2. Who are the top 10 global oil and gas giants?
Although exact rankings shift based on daily stock market volatility, the top 10 companies leading the global energy sector include:
- Saudi Aramco (Saudi Arabia)
- ExxonMobil (USA)
- Chevron (USA)
- Shell (UK)
- TotalEnergies (France)
- PetroChina (China)
- BP (UK)
- ConocoPhillips (USA)
- CNOOC (China)
- Eni (Italy)
3. Which country supplies the most foreign oil to the United States?
Canada is overwhelmingly the top foreign supplier of crude to the U.S. In fact, Canadian imports account for approximately 60% of all foreign crude brought into the country, dwarfing the contributions of other major partners like Mexico and Saudi Arabia.
4. How many oil and gas businesses operate in the U.S.?
The United States is home to roughly 9,000 independent oil and natural gas producers. While the massive, publicly traded "Majors" dominate the headlines, it is actually these thousands of smaller, independent operators who drill the vast majority of domestic wells across the country.
5. What is the largest oil refinery in the United States?
While the Saudi Aramco-owned Motiva Enterprises facility in Port Arthur, Texas, is incredibly massive (processing roughly 626,000 barrels per day), the Marathon Galveston Bay Refinery in Texas currently holds the top spot as the largest in the U.S., boasting an operable capacity of over 631,000 barrels of crude oil per day.
Conclusion
In 2026, the American energy sector continues to act as a foundational pillar of the global economy. By navigating historic mergers and scaling their operations, the leading companies have demonstrated unmatched financial resilience. Even as the global market evolves, these industry titans are strategically equipped to maintain their dominance.
Exporters Worlds bridges the gap between ambitious buyers and premier energy suppliers. Whether your goal is to secure lucrative international partnerships or gain a competitive edge through market data, our B2B platform is engineered for your success. Contact us to learn more!
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