5 Biggest Oil Companies in Texas

In this article, we discuss the 5 biggest oil companies in Texas. To read the detailed analysis of the Texas oil industry, go directly to the 15 Biggest Oil Companies in Texas.

5. EOG Resources Inc (NYSE:EOG)

Revenue in 2022: $25.70 billion
Number of Hedge Fund Holders: 50

Headquartered in Houston, Texas, EOG Resources Inc (NYSE:EOG), with its subsidiaries, explores and develops crude oil and natural fast.

EOG Resources Inc (NYSE:EOG) owns about 137 oil and gas wells in Fort Worth Basin in Johnson County, Texas. Its oil production portfolio consists of 57,000 net acres.

In its Q4 2022 investor letter, Artisan Partners stated the following about EOG Resources, Inc. (NYSE:EOG):

“Our top three contributors for the full year were two energy holdings—Schlumberger and EOG Resources, Inc. (NYSE:EOG)—and health care company Merck. EOG is a US shale-focused E&P company. The current supportive commodity price environment and EOG’s continuing to deliver on its production goals and capex plans have led investors to bid up shares. Its commitment to return excess capital to shareholders via regular and special dividends is also highly appealing, particularly in a period of rising interest rates. The company has proven its ability to create economic value for shareholders, even over the past decade that included the toughest energy commodity environment of the last 30+ years. The company’s strong balance sheet enabled it to increase production capabilities during the downturn. EOG has a low-cost production position with a strong reserve base, giving it an advantage versus peers. Further, EOG’s management focuses on return on invested capital and cash flow generation, distinguishing it from most of the company’s competitors who prioritize growth over profitability.”