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Public companies drive most Lower 48 U.S. crude and gas output
In 2025, publicly traded producers were 2.0% of about 12,000 firms but generated 68.0% of crude oil and natural gas production in the Lower 48, according to the EIA.
The U.S. Energy Information Administration says publicly traded companies are a small slice of the overall producer base for crude oil and natural gas.
In 2025, they accounted for just 2.0% of roughly 12,000 oil and natural gas producers.
Even so, publicly traded firms produced 68.0% of U.S. crude oil and natural gas output in the Lower 48 states, the EIA said.
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