Chevron is the largest shale oil producer in the U.S. In 2020, the California based Big Oil company produced an average of 387,000 barrels of shale oil and condensate products per day. That same year, the company ranked second in a list of largest U.S. oil and gas companies based on market capitalization. ExxonMobil, the most valuable U.S. oil company, is the fifth largest shale oil producer, at 308,000 barrels.
Coronavirus' impact on oil & gas industry
The oil and gas industry has seen various challenges as the world moves towards clean energy and many governments implement tougher climate policies. The 2020 coronavirus pandemic presents yet another challenge, as oil demand declines and many oil supermajors are left scrambling to revise capital expenditures for the year.
As a result of this crisis, 2020 has already seen a number of considerable mergers and acquisitions of financially compromised companies. ConocoPhillips announced plans to acquire Concho Resources, while Devon Energy has proposed a merger with WPX Energy. Meanwhile, Chevron bought hydrocarbon exploration company Noble Energy.
Leading shale oil producers based on daily average crude oil and condensate production in the United States in 2020*
(in 1,000 barrels per day)
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Axios. (October 20, 2020). Leading shale oil producers based on daily average crude oil and condensate production in the United States in 2020* (in 1,000 barrels per day) [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1181897/oil-largest-shale-oil-producers/
Axios. "Leading shale oil producers based on daily average crude oil and condensate production in the United States in 2020* (in 1,000 barrels per day)." Chart. October 20, 2020. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1181897/oil-largest-shale-oil-producers/
Axios. (2020). Leading shale oil producers based on daily average crude oil and condensate production in the United States in 2020* (in 1,000 barrels per day). Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1181897/oil-largest-shale-oil-producers/
Axios. "Leading Shale Oil Producers Based on Daily Average Crude Oil and Condensate Production in The United States in 2020* (in 1,000 Barrels per Day)." Statista, Statista Inc., 20 Oct 2020, https://www.statista.com/statistics/1181897/oil-largest-shale-oil-producers/
Axios, Leading shale oil producers based on daily average crude oil and condensate production in the United States in 2020* (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/1181897/oil-largest-shale-oil-producers/ (last visited November 03, 2024)
Leading shale oil producers based on daily average crude oil and condensate production in the United States in 2020* (in 1,000 barrels per day) [Graph], Axios, October 20, 2020. [Online]. Available: https://www.statista.com/statistics/1181897/oil-largest-shale-oil-producers/