Top 20 Oil Producing Companies in the US

2. Chevron Corporation (NYSE:CVX)

Revenue reported in 2023: $196.91 billion

Chevron Corporation (NYSE:CVX), an integrated energy company, specializes in crude oil and natural gas production, along with manufacturing transportation fuels, lubricants, and petrochemicals.

According to Insider Monkey, to increase its fossil fuel reserves, Chevron has planned a $53 billion all-stock acquisition of Hess, particularly in Guyana’s oil-rich assets, totalling over 11 billion barrels equivalent of recoverable resources. However, in February 2024, Chevron revealed potential jeopardy for the deal as rival petroleum giants contested control of a crucial oil asset. This development underscores the inherent risks accompanying Chevron’s strategic expansion efforts amidst fierce industry competition.