Natural gas is a vital energy source for homes and businesses worldwide, and many companies are involved in the exploration, production, refinement, and distribution of this important fuel.
From global giants to specialized independent producers, these companies are at the forefront of the natural gas industry and are driving innovation and progress in the sector. Here, we look at some of the largest natural gas producers in the US.
If you’re in charge of sourcing natural gas for your business, learning about some of the top US natural gas competitors will help you make an informed decision on which company to work with.
The natural gas industry in the United States involves the exploration, extraction, refinement, and distribution of natural gas, which is a fossil fuel. Once natural gas is extracted, it is refined to remove impurities such as water, oil, and other minerals. It is then transported via pipelines to storage facilities or directly to customers. Natural gas is used for many purposes, including heating, cooking, electricity generation, and chemical feedstock.
The natural gas industry in the United States is regulated by federal and state agencies, which oversee activities such as drilling, transportation, and the safety of natural gas infrastructure. Environmental concerns, such as air and water pollution, are also major issues in the industry. In recent years, the use of natural gas has grown as a cleaner alternative to coal, but it is still a significant source of carbon dioxide emissions.
There are three main functions of natural gas companies: exploration and production, refinement, and distribution. An individual company may take part in only one of these functions or all three.
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.
The United States has grown to become the world’s leading producer of natural gas, followed by Russia and China. You’ll notice that you recognize most of the names of the largest natural gas companies — these natural gas producers are typically also some of the biggest energy giants in the world.
While some of the biggest natural gas companies are household names, there are countless smaller companies across the nation. Each state has multiple different companies that handle the production, distribution, or both, of natural gas.
Despite these options, many businesses focus on finding savings by minimizing natural gas usage. In fact, the best way to save money on natural gas utility bills is through invoice auditing. This process looks at billing to find savings in overcharges and errors that often find their way onto natural gas invoices, regardless of who your provider is.
BP is a multinational oil and gas company that produces and distributes natural gas. It is not only at the top of the natural gas company list but also one of the biggest companies in the world. They have a significant presence in the exploration, production, refining, and marketing of energy resources.
BP’s natural gas operations include the extraction of gas from various sources, as well as the transportation, storage, and distribution of the gas to customers. They have operations in countries around the world, including the United States, Russia, and the United Kingdom. In 2021, they produced nearly 16 billion cubic feet of natural gas per day in the United States.
One of the biggest natural gas companies based in the United States is EQT. The company operates primarily in the Appalachian Basin, where it extracts natural gas from the Marcellus and Utica shale formations. EQT also has interests in pipelines, storage and processing facilities, and the development of natural gas resources in the US.
EQT has operations in several states, including Pennsylvania, West Virginia, and Ohio. They currently utilize both horizontal drilling and hydraulic fracturing to produce natural gas. EQT had an average daily sales volume of 5.1 billion cubic feet equivalent (BCFE) per day in 2021.
Based out of Texas, Southwestern Energy Company is one of the largest natural gas companies in the country. Unlike some of the others on our natural gas company list, Southwestern’s primary focus is developing natural gas, natural gas liquids, and crude oil. The company also markets and transports its products.
In 2021, Southwestern Energy produced 3.397 BCFE per day, earning it a spot as one of the largest natural gas producers. The company is committed to responsibly sourcing and developing its products by protecting the environment and communities where they work.
Antero Resources is a natural gas and oil exploration and production company based in Denver, Colorado. The company is focused on developing its natural gas resources in the United States, with significant holds in the Marcellus and Utica Shales. Antero earned a spot as one of the US gas companies with the highest production, with 3.271 BCFE per day in 2020.
Antero Resources is known for its unconventional natural gas production methods and has been investing in new technologies to increase production and improve efficiency. In addition, the company is committed to environmental stewardship and reducing its impact on the planet.
ExxonMobil is one of the largest natural gas producers with headquarters in the United States. The company’s natural gas production in the US includes the extraction of gas from shale formations and conventional sources. ExxonMobil also has interests in pipelines, storage and processing facilities, and liquefied natural gas (LNG) export terminals. The company produced 2.75 billion cubic feet of natural gas per day in 2021 in the US.
Exxon is dedicated to developing future energy technology. They claim that 40 percent of the projected global energy demand will be met by natural gas. Exxon is working toward effectively managing methane emissions to further enhance the benefits of natural gas versus coal.
This private exploration and production company is one of the largest natural gas producers in the country based on production and the biggest operating in Ohio. Its major focus is on acquiring, developing, producing, and operating natural gas in the Utica Shale. In the third quarter of 2022, Ascent Resources averaged 2.3 BCFE per day of natural gas.
Like many of the others on our natural gas company list, Ascent is committed to creating and implementing sustainable business practices. Each year, they release an environment, social, and governance report to detail their efforts.
Range Resources is a natural gas and oil exploration and production company based in Fort Worth, Texas. The company is one of the largest independent producers of natural gas in the United States, with operations primarily in the Appalachian Basin, the Barnett Shale in Texas, and the Marcellus Shale in Pennsylvania. In 2021, Range Resources produced 2.130 BCFE of natural gas per day.
Range Resources is focused on developing its natural gas resources in the US and has been investing in new technologies to shape new standards for shale development. This includes their commitment to sustainable operations and emission-reducing technologies.
Another multinational corporation that has secured a top spot on our natural gas company list is Chevron. In 2021, Chevron produced 1.69 billion cubic feet per day in the US alone. The company’s natural gas operations in the US include both conventional and unconventional gas resources, and the company is actively developing new technologies to increase production and improve efficiency.
The company has a significant presence in the United States, where it produces natural gas with a strong focus on the Permian and Denver-Julesburg Basins. Chevron is also one of the largest natural gas producers in Australia.
CNX is another one of the largest natural gas producers in the US that centers its operations around the shale formations of the Appalachian basin. Their mission is to embrace and drive innovations that help solve the energy needs of today and the future.
In 2021, CNX resources produced 1.67 BCFE of natural gas per day, earning it the ninth spot on our biggest natural gas company list.
Shell is another big name you might recognize, which is one of the largest natural gas producers in the US. This international company is leading the way in the energy transition by focusing on producing gas in the safest and most responsible ways. In addition, Shell is often at the forefront of leveraging technology to enhance productivity and investing in new technologies to increase production and improve the efficiency of its natural gas operations in the US.
With a daily production of 1.5 billion cubic feet of natural gas, Shell is producing a major chunk of the market share. They have production sites across the globe and are growing to help meet global demand while limiting CO2 emissions.
Looking at the annual revenue of these giant US gas companies, it’s clear that the industry is booming. But many business owners don’t realize that a big portion of utility companies’ revenue comes from overcharges and errors on invoices. So if you’re looking to cut back on your utility expenditures, the first thing you should do is have a full utility expense audit with P3 Cost Analysts.
We will help you take back control of your utility charges, whether that’s natural gas, water, or electric. Our team of experts will analyze your spending and locate discrepancies on your invoice to get your money back. As a result, our customers save an average of 3 to 5 percent on utilities when working with us, which can add up to some serious cash.
These top ten largest natural gas companies just scratch the surface — there are even more options for you depending on where your business is based. Don’t blindly accept your current natural gas rates. Instead, let P3 Cost Analysts look over your billing and make sure that you’re with the best option for you.
Whether you decide to stick with your current provider or let us help you source a new one, we will keep an eye on your monthly gas bills to ensure you’re not overpaying.
To schedule your free expense audit with P3 Cost Analysts, contact us today!