Oil & gas E&P
34 companies · $216B combined revenue · $48.6B operating profit
The typical US-listed oil & gas e&p company grew revenue 9% and earnings -5% in its latest year, at a 26.7% operating margin, and 8 of 33 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
Growth engines: the 4 Cylinders
All four working: 12% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more47%
- Operating leverage · Operating income growing faster than a growing revenue28%
- Margin expansion · Operating margin up 1 point or more41%
- Debt reduction · Debt down 5% or more, or net cash35%
Combined revenue · 31 companies reporting in US dollars
Combined operating margin
All 34 companies
| Median | – | 9% | -5% | 26.7% | 10.3% | 0.47x |
| COPConocophillips | $51.8B | 4.9%▼ | -13.6%▼ | 26.7%▲ | 12.6%▲ | 0.36x▲ |
| CNQCanadian Natural Resources | CAD 38.8B | 8.7%▼ | 77.2%▲ | 36.8%▲ | 17%▲ | 0.37x▲ |
| EOGEOG Resources | $22.6B | -4.5%▼ | -22.2%▼ | 28.2%▲ | 13.6%▲ | 0.27x▲ |
| OXYOccidental Petroleum | $21.6B | -5%▼ | -23%▼ | 19.5%▼ | 5.6%▼ | 0.57x▼ |
| FANGDiamondback Energy | $15.0B | 35.8%▲ | -50.1%▼ | 8.4%▼ | 1.9%▼ | 0.39x▲ |
| DVNDevon Energy | $16.8B | 5.4%▼ | -8.7%▼ | 23.6%▼ | 14.4%▲ | 0.54x▼ |
| ECEcopetrol | COP 133.33T | -6.9%▼ | -27.1%▼ | 28.8%▲ | 14.9%▲ | 1.50x▼ |
| EQTEQT | $8.6B | 63.9%▲ | 784%▲ | 37.6%▲ | 8.3%▼ | 0.33x▲ |
| TPLTexas Pacific Land | $798M | 13.1%▲ | 6%▲ | 74.2%▲ | 38.2%▲ | – |
| EXEExpand Energy | $12.1B | 186%▲ | – | 20.4%▼ | 9.7%▼ | 0.27x▲ |
| PRPermian Resources | $5.1B | 1.3%▼ | -5% | 28.9%▲ | 9%▼ | 0.34x▲ |
| OVVOvintiv | $8.7B | -3.1%▼ | 10.4%▲ | 13.1%▼ | 6.4%▼ | 0.46x▲ |
| VNOMViper Energy | $1.3B | 57.6%▲ | -119%▼ | -10.4%▼ | -1.1%▼ | 0.49x▼ |
| ARAntero Resources | $5.3B | 22%▲ | 620%▲ | 16.7%▼ | 7.5%▼ | 0.19x▲ |
| SSLSASOL | ZAR 272B | 9.2%▲ | 87.1%▲ | 9.4%▼ | – | 0.58x▼ |
| RRCRange Resources | $3.0B | 27.3%▲ | 147%▲ | 23.6%▼ | 10.4%▲ | 0.28x▲ |
| SMSM Energy | $3.2B | 17.2%▲ | -15.8%▼ | 31.7%▲ | 12.4%▲ | 0.48x▼ |
| CHRDChord Energy | $4.9B | -7.1%▼ | -94.8%▼ | 4%▼ | 1.7%▼ | 0.18x▲ |
| VISTVista Energy, S.A.B. de C.V. | $2.5B | 50.2%▲ | 50.6%▲ | 50.6%▲ | 20.6%▲ | 1.26x▼ |
| MGYMagnolia Oil & Gas | $1.3B | -0.3%▼ | -11.1%▼ | 33.5%▲ | 16.8%▲ | 0.20x▲ |
| MTDRMatador Resources | $3.7B | 5.1%▼ | -14.2%▼ | 33.5%▲ | 11.5%▲ | 0.60x▼ |
| LBLandBridge | $199M | 81.1%▲ | 490%▲ | 59.5%▲ | 8.8%▼ | 1.65x▼ |
| HESMHess Midstream | $1.6B | 8.4%▼ | 58.2%▲ | 62.2%▲ | 24%▲ | – |
| MURMurphy Oil | $2.7B | -10.9%▼ | -74.4%▼ | 11.2%▼ | 3.4%▼ | 0.25x▲ |
| CRGYCrescent Energy | $3.6B | 22.1%▲ | – | 6.4%▼ | 2.1%▼ | 1.07x▼ |
| CRCCalifornia Resources | $2.9B | 14.7%▲ | -3.5%▲ | 20.5%▼ | 9.4%▼ | 0.35x▲ |
| PARRPar Pacific | $7.5B | -6.4%▼ | – | 7.2%▼ | 19.8%▲ | 0.53x▼ |
| CRKComstock Resources | $2.2B | 77%▲ | – | 29.1%▲ | 10.3% | 1.06x▼ |
| BSMBlack Stone Minerals | $422M | -3.9%▼ | 10.5%▲ | 73%▲ | 23.5%▲ | – |
| GPORGulfport Energy | $1.4B | 48.5%▲ | – | 42.2%▲ | 22.5%▲ | 0.43x▲ |
| TALOTalos Energy | $1.8B | -9.8%▼ | – | -31.5%▼ | -11.4%▼ | 0.57x▼ |
| NOGNorthern Oil & Gas | $2.5B | 11.2%▲ | -92.6%▼ | 9.9%▼ | 5%▼ | 1.13x▼ |
| BKVBKV | $1.1B | 41.6%▲ | – | 26.6%▼ | 9%▼ | 0.57x▼ |
| KRPKimbell Royalty Partners | $334M | 7.9%▼ | 800%▲ | 39.8%▲ | 10.9%▲ | – |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).