Exploration, production, refinement, and distribution of natural gas are major business endeavors for numerous companies. Natural gas is an essential energy source for homes and businesses across the globe.
These businesses, which range from multinational behemoths to niche independent producers, are leading the natural gas industry’s innovation and advancement. We examine some of the biggest producers of natural gas in the United States here.
Making an informed choice about which company to partner with can be aided by being aware of some of the leading US natural gas competitors if you are responsible for sourcing natural gas for your company.
Overview of the Natural Gas Industry
The natural gas industry in the US consists of the fossil fuel extraction, distribution, refinement, and exploration of natural gas. Natural gas is refined to get rid of contaminants like water, oil, and other minerals after it has been extracted. After that, it is delivered directly to clients or through pipelines to storage facilities. In addition to being used for heating and cooking, natural gas is also used as a feedstock for chemicals.
Federal and state organizations that oversee operations like drilling, transportation, and the security of natural gas infrastructure regulate the natural gas sector in the United States. Environmental issues, including pollution of the air and water, are also significant problems for the sector. Although natural gas has become more popular recently as a greener option to coal, it still contributes significantly to carbon dioxide emissions.
Main Components of the Natural Gas Industry
Natural gas companies are primarily involved in three processes: distribution, refinement, and exploration and production. A single business may engage in all three of these roles, or just one of them.
1. Exploration and production: Companies that produce natural gas search for and locate natural gas deposits in subterranean rock formations. In order to extract the gas, this process usually entails drilling wells and applying methods like hydraulic fracturing, or “fracking.”
2. Refinement: After being extracted, natural gas is processed to get rid of contaminants like water, oil, and other minerals. Refinement procedures may involve drying, filtering, and the elimination of impurities like mercury and sulfur.
3. Distribution: Pipelines, trucks, or ships are used to deliver refined natural gas to consumers. Companies that provide natural gas may also run storage facilities to hold extra gas for later use.
In addition to these core functions, natural gas companies may also be involved in the marketing and sales of natural gas, as well as in the development and maintenance of natural gas infrastructure, such as pipelines and storage facilities.
Considerations When Working With Natural Gas Companies
The United States has emerged as the global leader in natural gas production, with China and Russia trailing behind. It is likely that most of the names of the biggest producers of natural gas are also among the biggest energy giants in the world, as you will notice.
There are innumerable smaller natural gas companies across the country, even though some of the largest ones are well-known. Numerous businesses in each state are in charge of producing, distributing, or handling both types of natural gas.
In spite of these choices, a lot of companies concentrate on cutting costs by using natural gas as little as possible. In fact, auditing invoices is the best way to reduce the amount you pay for natural gas utilities. Regardless of your provider, this process examines billing to identify opportunities for savings in overcharging and errors that frequently appear on natural gas bills.
Largest Natural Gas Companies
1. BP
• Annual revenue: $164.19 Billion
• Number of employees: 87,800
• Headquarters: London, UK
The multinational oil and gas producer and distributor of natural gas is called BP. Not only is it the largest company in the world, but it also tops the list of natural gas companies. They are heavily involved in the discovery, extraction, processing, and distribution of energy resources.
The natural gas operations of BP encompass the extraction of gas from diverse sources, in addition to the conveyance, holding, and dissemination of the gas to end users. They are active in the United States, Russia, and the United Kingdom, among other nations. The United States produced close to 16 billion cubic feet of natural gas per day in 2021.
2. EQT
• Annual revenue: $3.06 Billion
• Number of employees: 881
• Headquarters: Pittsburg, Pennsylvania
EQT is one of the largest natural gas corporations in the US. The Marcellus and Utica shale formations in the Appalachian Basin are the company’s principal sources of natural gas extraction. In addition, EQT is involved in the development of natural gas resources in the United States, pipelines, and storage and processing facilities.
EQT operates in Ohio, West Virginia, and Pennsylvania, among other states. For the purpose of producing natural gas, they currently use both hydraulic fracturing and horizontal drilling. In 2021, EQT’s daily sales volume averaged 5.1 billion cubic feet equivalent (BCFE).
3. Southwestern Energy Company
• Annual revenue: $6.67 Billion
• Number of employees: 938
• Headquarters: Spring, Texas
Southwestern Energy Company, one of the biggest natural gas companies in the nation, is headquartered in Texas. Southwestern is primarily focused on developing natural gas, natural gas liquids, and crude oil, in contrast to some of the other companies on our list of natural gas companies. The business ships and markets its goods as well.
Southwestern Energy became one of the biggest producers of natural gas in 2021 with a daily production of 3.397 BCFE. The business is dedicated to developing its products ethically and sourcing them from sources that respect the local communities and the environment.
4. Antero Resources
• Annual revenue: $4.62 Billion
• Number of employees: 519
• Headquarters: Denver, Colorado
Denver, Colorado-based Antero Resources is an exploration and production company for natural gas and oil. With large holdings in the Marcellus and Utica Shales, the company is primarily focused on developing its natural gas resources in the United States. With 3.271 BCFE per day in 2020, Antero secured a position as one of the US gas companies with the highest production.
Known for using non-traditional techniques to produce natural gas, Antero Resources has been investing in new technologies to boost output and boost efficiency. Furthermore, the organization is dedicated to practicing environmental stewardship and minimizing its global footprint.
5. Exxon Mobil
• Annual revenue: $285.64 Billion
• Number of employees: 63,000
• Headquarters: Irving, Texas
Located in the US, ExxonMobil is one of the biggest producers of natural gas. The business produces natural gas in the US by extracting it from both conventional and shale formations. In addition, Exxon Mobil is involved in LNG export terminals, pipelines, and storage and processing facilities. In the US in 2021, the company produced 2.75 billion cubic feet of natural gas per day.
Exxon is committed to creating cutting-edge energy technologies. They assert that natural gas will provide 40% of the world’s anticipated energy needs. Exxon is attempting to control methane emissions more successfully in order to increase the advantages of natural gas over coal.
6. Ascent Resources
• Annual revenue: $1.20 Billion
• Number of employees: 398
• Headquarters: Oklahoma City, Oklahoma
Based on production, this private exploration and production company ranks among the nation’s biggest producers of natural gas and is the largest in Ohio. Acquiring, developing, producing, and running natural gas in the Utica Shale is its main priority. Ascent Resources produced 2.3 BCFE of natural gas on average per day in the third quarter of 2022.
Ascent is dedicated to developing and putting into effect sustainable business practices, just like a lot of other companies on our list of natural gas companies. They document their efforts in an environment, social, and governance report that is released annually.
7. Range Resources
• Annual revenue: $2.93 Billion
• Number of employees: 527
• Headquarters: Fort Worth, Texas
Rangers Resources is a Fort Worth, Texas-based company that explores and produces natural gas and oil. The company, which mainly operates in the Appalachian Basin, the Marcellus Shale in Pennsylvania, and the Barnett Shale in Texas, is among the biggest independent producers of natural gas in the country. Range Resources generated 2.130 BCFE of natural gas per day in 2021.
Range Resources has been investing in new technologies to help shape new standards for shale development, while also remaining committed to the development of its natural gas resources in the United States. This includes their dedication to environmentally friendly practices and technology that lowers emissions.
8. Chevron
• Annual revenue: $162.47 Billion
• Number of employees: 42,595
• Headquarters: San Ramon, California
Chevron is another international company that has taken the top spot on our list of natural gas companies. Chevron produced 1.69 billion cubic feet a day in the United States alone in 2021. The company uses both conventional and unconventional gas resources in its US natural gas operations, and it is constantly creating new technologies to boost output and boost efficiency.
The company is well-known in the US, where it primarily concentrates on producing natural gas from the Permian and Denver-Julesburg Basins. Additionally, Chevron ranks among Australia’s biggest producers of natural gas.
9. CNX Resources
• Headquarters: Canonsburg, Pennsylvania
• Number of employees: 440
• Annual revenue: $756 Million
Another major US natural gas producer, CNX, bases its operations primarily on the Appalachian basin’s shale formations. Their goal is to support and encourage innovations that contribute to meeting the present and future energy needs.
CNX Resources ranked ninth on our list of the largest natural gas companies in 2021 with daily production of 1.67 BCFE.
10. Shell
• Annual revenue: $272.66 Billion
• Number of employees: 82,000
• Headquarters: London, England
Another well-known company you may be familiar with is Shell, one of the biggest producers of natural gas in the US. By concentrating on producing gas in the safest and most responsible methods possible, this multinational corporation is setting the standard for the energy transition. Furthermore, Shell frequently leads the way in utilizing technology to boost efficiency and investing in new innovations to raise output and boost the effectiveness of its natural gas operations in the United States.
Shell is generating a significant portion of the market share with its daily production of 1.5 billion cubic feet of natural gas. They are expanding to help meet global demand while lowering CO2 emissions, and they currently have production facilities all over the world.
