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Public firms make up most Lower 48 crude and natural gas output

In 2025, public companies were only about 2% of roughly 12,000 producers but generated 68% of crude oil and natural gas production in the Lower 48, according to the EIA.

Reported · Written up by our desk · Energy

The U.S. Energy Information Administration says publicly traded companies are a small fraction of oil and natural gas producers in the country, but they account for most of the production in the Lower 48 states.

According to the EIA, public firms made up just 2% of about 12,000 crude oil and natural gas producers in 2025.

Even with that small share of the producer count, those companies produced 68% of the crude oil and natural gas produced in the Lower 48, the EIA said.

Latest closeWTI crude $90.73 ▼4.1%|Nat gas $3.202 ▲8.0%

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