In this article, we are going to list the 15 largest gas companies in the US. Click to skip ahead and jump to the 5 largest gas companies in the US.
Natural gas is fossil energy produced from decomposed organic matter, generally from ancient marine microorganisms that have been deposited over the last 550 million years. Natural gas is contained within the underground rock and is commonly extracted vertically from the Earth’s surface, courtesy of the 15 largest drilling companies in the world. The United States is the world’s largest producer of natural gas with an output was approximately 34 trillion cubic feet (Tcf) in 2019, the highest annual volume ever.
The use of natural gas has developed since the 19th century when we used it mainly for general lighting. Today, we use natural gas in our daily activities even several times a day! It’s when you turn on the air-condition or the heater to adjust comfortable room temperature. It’s when you cook your dinner on that four-burner stove or when you bake your favorite pastry. It’s when you heat water for that well-deserved bubble bath. Natural gas is also used in fueling vehicles, heating buildings, and powering industrial furnaces.
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Natural gas is derived from onshore and offshore natural gas and oil wells and coal beds. And did you know that Texas is the top-natural gas-producing state in the US? Texas is the largest producer of both crude oil and natural gas in the United States. In 2019, the state accounted for 41% of the nation’s crude oil output and 25% of its marketed natural gas production. The state has more than one-tenth of the country’s total working gas storage capacity.
The United States used about 31 trillion cubic feet (Tcf) of natural gas in 2019. Over the past decade, U.S. natural gas production has grown at an average annual rate of 4.4% according to Forbes. The production of natural gas in the U.S. has increased dramatically due to technical developments in natural gas extraction. This increased supply has replaced the conventional supply chain and has resulted in lower prices for natural gas consumers.
You must be wondering if the natural gas sector has been affected by the pandemic recession. Well, the spread of this virus has caused many oil and gas companies to either suspend or slow down their physical operations, which have affected both upstream and downstream production. Also, the pandemic intensified the drop in global natural gas prices that started pre-COVID as new abundant supplies entered the market at the beginning of the year. Yet, U.S. demand for natural gas has never really gone through Covid-19. So if you’ve been holding stocks from the largest gas companies in the US, I want to congratulate you. In 2017, we made a list of the 11 best oil company stocks to buy now and you can review some of the biggest gas companies that are still included among the leading gas companies in the US over the years. The truth is that no energy source can compete with such low prices for gas for commodities, particularly since we have already developed a gigantic complex for the continuous use of more gas.
Could this be the best time to invest in the biggest natural gas companies in the US? Possibly. So we created a list of the largest gas companies in the US to include in your portfolio. We ranked each company by its revenue and market cap we sourced from Forbes. Now let’s take a closer look at the 15 largest gas companies in the US starting at number 15:
Revenue: $3.6 billion
Market Cap: $3.72 billion
Headquarter: Pittsburgh, PA
EQT Corp., one of the largest gas companies in the US, is involved in the processing, collection, and transmission of natural gas in the Appalachian region. The company founded in 1888 specializes in the exploration, development, and production of natural gas and crude oil. In October, EQT Corp announced its plan on buying Chevron Corp’s (NYSE: CVX) Appalachian assets.
Revenue: $4.6 billion
Market Cap: $6.23 billion
Headquarter: Oklahoma City, OK
Continental Resources, Inc. is a key player in the crude oil and gas industry operating in the North, South, and East parts of the United States. Headquartered in Oklahoma City, Continental is the largest owner and the largest producer in the nation’s prime oil region, the Bakken Play of North Dakota and Montana. The company also owns major positions in Oklahoma, including SCOOP Woodford and SCOOP Springer discoveries and STACK plays.
The company was founded in 1888 and was formerly known as USX Corporation before renaming it as Marathon Oil. Marathon Oil Corp. is involved in the production, development, and distribution of liquid hydrocarbons and natural gas. The company also engages in the production of oil and gas internationally mainly in Equatorial Guinea and the UK. The company announced net reserves of 1.2 billion barrels of oil equivalent at the end of 2019.
Revenue: $6.5 billion
Market Cap: $17.29 billion
Headquarter: New York, NY
Hess Corporation is one of the country’s largest independent energy companies engaged in the exploration and development of crude oil and natural gas. Hess is also one of the main producers in the deep-water Gulf of Mexico and a significant supplier of natural gas to Malaysia and Thailand. Hess Corp’s main product is crude oil yet it also offers natural gas and natural gas liquids.
Revenue: $7.1 billion
Market Cap: $4.97 billion
Headquarter: Denver, CO
Formerly known as Encana, Ovintiv Inc focuses on the production of its multi-basin portfolio of oil, natural gas liquids, and natural gas. The organization is also focused on creating sustainable solutions, as it announced its goal of 33% reduction in methane intensity to 0.10 metric tons by 2025, which would dramatically reduce greenhouse gas emissions.
Revenue: $8.6 billion
Market Cap: $22.13 million
Headquarter: Oklahoma City, OK
Chesapeake Energy Corp. is an independent petroleum company pioneering in the acquisition, exploration, and extraction of oil, natural gas, and natural gas liquid production assets from underground reservoirs. The company works on operations in Louisiana, Ohio, Oklahoma, Pennsylvania, Texas, and Wyoming.
Revenue: $11.7 billion
Market Cap: $6.16 billion
Headquarter: Oklahoma City, OK
Devon Energy Corporation is one of the largest gas companies in the US engaging in the exploration, development, and production of oil, natural gas, and natural gas liquids. The company operates approximately 3,955 gross wells. Devon generates about 575 million cubic feet of natural gas a day and about 80,000 barrels of natural gas liquids a day.
Revenue: $13.1 billion
Market Cap: $67.06 million
Headquarter: The Woodlands, TX
Anadarko Petroleum Corporation is one of the largest independent exploration and production firms in the world, mainly selling crude, natural gas, and NGLs. The company operates 2,500 net oil wells and 6,500 gas wells. The North American activities of the company include exploration facilities in the Anadarko Basin, Wyoming, Alberta, Canada, and the Gulf of Mexico. Anadarko Petroleum Corporation has established international operations in Algeria, the Red Sea, and Peru.
EOG Resources is not only a leading gas producer in the United States but is also known as a crude oil and natural gas supplier in Trinidad, the UK, China, and Canada. The company focuses on the cost-effective use of advanced technologies to minimize risks and costs associated with all facets of oil and gas production.
Occidental Petroleum Corp is a multinational oil and gas exploration and manufacturing company. The top-leading gas company operates in the US, the Middle East, and Latin America. The company also engages in manufacturing chemical (OxyChem) and Midstream and Marketing segments.
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