Oil and Gas Production by State: Top 5

4. Colorado

Total Crude Oil Production in 2022: 160.149 million bbls

Total Natural Dry Gas Production in 2022: 1,628,281 mmcf

Colorado was the fifth-largest crude oil producing state in America in 2022 and accounted for almost 4% of the total U.S. crude oil output. It was announced earlier this year that the Denver-based PDC Energy has been acquired by the Chevron Corporation, creating the largest oil and gas company in the Centennial State. The new company will now hold 600,000 acres statewide and produce 400,000 barrels of oil per day on average, making it one of Chevron’s top five production units in the world. The California-based oil giant is also looking to expand its renewable fuel business in Colorado to include hydrogen, geothermal, and carbon sequestration.