In this article, we take a look at the top 5 independent oil and gas companies in the world. If you want to check out our detailed analysis of the energy industry, go directly to the Top 15 Independent Oil and Gas Companies in the World.
5. Terra Energy
2022 Revenue: $2.29 billion
Terra Energy is a private limited company created in 2015 in Houston, Texas, United States. Its primary functions include the exploration and processing of crude oil and natural gas. Its assets are located in British Columbia, Saskatchewan, and Alberta in Canada.
Terra operates 5,300 wells in the Piceance Basin. Its current production capacity is around 500 million cubic feet of natural gas per day, which lands it among the top independent oil and gas producers in the United States.
4. Petrofac
2022 Revenue: $3.1 billion
Petrofac Ltd is an oilfield services company incorporated in London, United Kingdom, with its operations expanding over UAE, India, Saudi Arabia, and Malaysia. Petrofac is an integrated company and its functions include the construction and operation of upstream oil and gas infrastructure and facilities for its clients. During the past year, its annual revenue decreased by 25.1%.
Even though the Petrofac faced a challenging year, with a loss of $100 million, its CEO is optimistic about the company’s performance in 2023. Petrofac is expected to be awarded project contracts worth $68 billion before the end of the current year. The maximum production capacity of Petrofac is 1.5 million barrels of crude oil per day.
3. Hilcorp
2022 Revenue: $3.8 billion
Hilcorp is a private limited company incorporated in Texas, United States, which explores and produces oil and natural gas. It is termed America’s fourth-largest private producer of onshore crude oil and natural gas and has achieved an annual revenue growth rate of 4% over the last 3 years.
Hilcorp’s daily production capacity is approximately 1.2 million barrels. Some of the areas where it operates include the Northeast United States, the North Slope, and the Gulf Coast of Texas and Louisiana.
2. Reliance Industries
2022 Revenue: $37.02 billion
Reliance Industries is the largest private sector company in India and ranks 100th on the Fortune 500’s list of the world’s biggest corporations. It produces approximately 1 million barrels of crude oil equivalent products per day. The company’s annual revenue increased by 15.3% in the year 2022. Its operations include the exploration and production of oil and natural gas along with the manufacture of petroleum products. The global market for Reliance Industries products spans over 100 countries.
1. Koch Industries
2022 Revenue: $125 billion
Founded in 1940 in Kansas, United States, Koch Industries now ranks #2 on Forbes 2022 list of America’s largest private companies. The Koch family, which owns the company and its subsidiaries, is named America’s second richest family and has a net worth of $100 billion.
Their primary functions within the oil industry include manufacturing, refining, and distribution of petroleum and its associated goods. With an estimated annual revenue figure exceeding $125 billion, Koch Industries has expanded its business to more than 70 countries across the world. Their estimated production capacity is 800,000 barrels per day.
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