Top Energy Cash-Rich Stocks
Top energy companies ranked by cash & equivalents, latest annual filings.
What Cash Reserves Mean for Energy Companies
Cash and equivalents captures the liquid balances available for reinvestment, debt service, or capital return. In energy, the figure is strongly tied to the commodity cycle. Cash builds rapidly when oil and gas prices are elevated and drains through downcycles as realized pricing falls below break-even levels for higher-cost fields, so a balance read mid-cycle can be a poor guide to through-cycle financial flexibility.
Why Cash Isn't Always a Signal of Strength in Energy
Energy cash balances accumulate at commodity highs and are often deployed at the wrong time, funding buybacks and acquisitions near cycle peaks when share prices and asset valuations are elevated. Firms that preserve reserves through price spikes and deploy them during downturns have historically compounded per-share value more reliably. The absolute cash figure matters less than the capital-allocation discipline behind how it gets used.
What to Read Alongside
Pair cash reserves with Long-term Debt to derive the net cash position through commodity cycles, Free Cash Flow to judge generation capacity, and CapEx to see reinvestment claims on accumulated balances.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | BP | BP p.l.c. | Energy | $36.56B | $114.69B |
| 2 | SHEL | Shell plc | Energy | $30.22B | $280.59B |
| 3 | TTE | TotalEnergies SE | Energy | $26.20B | $192.81B |
| 4 | XOM | ExxonMobil Holdings Corporation | Energy | $10.68B | $676.62B |
| 5 | E | Eni S.p.A. | Energy | $9.51B | $78.96B |
| 6 | CVX | Chevron Corporation | Energy | $7.29B | $414.90B |
| 7 | COP | ConocoPhillips | Energy | $6.50B | $161.12B |
| 8 | PBR | Petróleo Brasileiro S.A. - Petrobras | Energy | $6.47B | $119.41B |
| 9 | WDS | Woodside Energy Group Ltd | Energy | $5.71B | $40.00B |
| 10 | EQNR | Equinor ASA | Energy | $5.04B | $99.39B |
| 11 | VLO | Valero Energy Corporation | Energy | $4.69B | $96.62B |
| 12 | BKR | Baker Hughes Company | Energy | $3.71B | $47.54B |
| 13 | MPC | Marathon Petroleum Corporation | Energy | $3.67B | $101.49B |
| 14 | EOG | EOG Resources, Inc. | Energy | $3.40B | $76.28B |
| 15 | SLB | SLB N.V. | Energy | $3.04B | $73.68B |
| 16 | EC | Ecopetrol S.A. | Energy | $2.85B | $31.97B |
| 17 | SU | Suncor Energy Inc. | Energy | $2.66B | $79.14B |
| 18 | VG | Venture Global, Inc. | Energy | $2.35B | $28.83B |
| 19 | HAL | Halliburton Company | Energy | $2.21B | $26.34B |
| 20 | MPLX | MPLX LP | Energy | $2.14B | $56.64B |
| 21 | CVE | Cenovus Energy Inc. | Energy | $2.00B | $49.61B |
| 22 | OXY | Occidental Petroleum Corporation | Energy | $1.97B | $56.36B |
| 23 | LEU | Centrus Energy Corp. | Energy | $1.96B | $2.16B |
| 24 | NOV | NOV Inc. | Energy | $1.55B | $6.26B |
| 25 | IEP | Icahn Enterprises L.P. | Energy | $1.45B | $3.60B |
| 26 | DVN | Devon Energy Corporation | Energy | $1.38B | $46.43B |
| 27 | ET | Energy Transfer LP | Energy | $1.27B | $65.17B |
| 28 | GLNG | Golar LNG Limited | Energy | $1.15B | $4.40B |
| 29 | PSX | Phillips 66 | Energy | $1.12B | $95.85B |
| 30 | LNG | Cheniere Energy, Inc. | Energy | $1.10B | $56.76B |
| 31 | FTI | TechnipFMC plc | Energy | $1.03B | $24.70B |
| 32 | WFRD | Weatherford International plc | Energy | $987.00M | $6.12B |
| 33 | DINO | HF Sinclair Corporation | Energy | $978.00M | $16.45B |
| 34 | EPD | Enterprise Products Partners L.P. | Energy | $969.00M | $79.86B |
| 35 | TK | Teekay Corporation Ltd. | Energy | $940.74M | $1.11B |
| 36 | NBR | Nabors Industries Ltd. | Energy | $940.71M | $1.20B |
| 37 | YPF | YPF Sociedad Anónima | Energy | $933.00M | $15.16B |
| 38 | SUN | Sunoco LP | Energy | $891.00M | $11.63B |
| 39 | SUNC | SunocoCorp LLC | Energy | $891.00M | $3.14B |
| 40 | IMO | Imperial Oil Limited | Energy | $832.85M | $58.92B |
| 41 | TNK | Teekay Tankers Ltd. | Energy | $830.57M | $2.97B |
| 42 | WES | Western Midstream Partners, LP | Energy | $819.49M | $16.47B |
| 43 | CCJ | Cameco Corporation | Energy | $813.05M | $31.05B |
| 44 | ENB | Enbridge Inc. | Energy | $797.84M | $104.51B |
| 45 | STNG | Scorpio Tankers Inc. | Energy | $751.96M | $4.13B |
| 46 | BTE | Baytex Energy Corp. | Energy | $695.09M | $2.92B |
| 47 | OII | Oceaneering International, Inc. | Energy | $688.87M | $3.41B |
| 48 | DK | Delek US Holdings, Inc. | Energy | $625.80M | $3.92B |
| 49 | RIG | Transocean Ltd. | Energy | $620.00M | $5.85B |
| 50 | EXE | Expand Energy Corporation | Energy | $616.00M | $19.54B |
| 51 | VAL | Valaris Limited | Energy | $599.40M | $5.54B |
| 52 | NXE | NexGen Energy Ltd. | Energy | $585.31M | $5.53B |
| 53 | UGP | Ultrapar Participações S.A. | Energy | $579.72M | $5.78B |
| 54 | TDW | Tidewater Inc. | Energy | $578.76M | $3.49B |
| 55 | BTU | Peabody Energy Corporation | Energy | $575.30M | $1.95B |
| 56 | TS | Tenaris S.A. | Energy | $572.65M | $29.71B |
| 57 | TGS | Transportadora de Gas del Sur S.A. | Energy | $550.98M | $3.24B |
| 58 | SOBO | South Bow Corporation | Energy | $549.00M | $6.49B |
| 59 | VIST | Vista Energy, S.A.B. de C.V. | Energy | $538.40M | $6.35B |
| 60 | EE | Excelerate Energy, Inc. | Energy | $538.23M | $4.15B |
| 61 | PBF | PBF Energy Inc. | Energy | $527.90M | $7.97B |
| 62 | APA | APA Corporation | Energy | $516.00M | $14.98B |
| 63 | CVI | CVR Energy, Inc. | Energy | $511.00M | $4.23B |
| 64 | UEC | Uranium Energy Corp. | Energy | $495.46M | $3.43B |
| 65 | CNQ | Canadian Natural Resources Limited | Energy | $490.81M | $98.81B |
| 66 | NE | Noble Corporation plc | Energy | $471.40M | $6.53B |
| 67 | FLNG | FLEX LNG Ltd. | Energy | $447.63M | $1.41B |
| 68 | CNR | Core Natural Resources, Inc. | Energy | $432.17M | $3.86B |
| 69 | PTEN | Patterson-UTI Energy, Inc. | Energy | $418.51M | $3.76B |
| 70 | BORR | Borr Drilling Limited | Energy | $379.70M | $1.00B |
| 71 | MUR | Murphy Oil Corporation | Energy | $377.20M | $5.16B |
| 72 | SM | SM Energy Company | Energy | $368.00M | $7.03B |
| 73 | TALO | Talos Energy Inc. | Energy | $362.81M | $2.46B |
| 74 | SEI | Solaris Energy Infrastructure, Inc. | Energy | $353.32M | $3.80B |
| 75 | DNN | Denison Mines Corp. | Energy | $339.79M | $1.98B |
| 76 | SDRL | Seadrill Limited | Energy | $339.00M | $2.60B |
| 77 | PAGP | Plains GP Holdings, L.P. | Energy | $329.00M | $5.10B |
| 78 | PAA | Plains All American Pipeline, L.P. | Energy | $328.00M | $16.88B |
| 79 | LPG | Dorian LPG Ltd. | Energy | $327.41M | $2.00B |
| 80 | TEN | Tsakos Energy Navigation Limited | Energy | $293.31M | $1.35B |
| 81 | VTOL | Bristow Group Inc. | Energy | $286.21M | $1.09B |
| 82 | MGY | Magnolia Oil & Gas Corporation | Energy | $266.79M | $6.30B |
| 83 | FRO | Frontline plc | Energy | $251.35M | $10.11B |
| 84 | BKV | BKV Corporation | Energy | $248.43M | $1.90B |
| 85 | BWLP | BW LPG Limited | Energy | $242.01M | $3.32B |
| 86 | UROY | Uranium Royalty Corp. | Energy | $241.96M | $1.16B |
| 87 | TBN | Tamboran Resources Corporation | Energy | $219.13M | $1.01B |
| 88 | AR | Antero Resources Corporation | Energy | $210.00M | $11.08B |
| 89 | RES | RPC, Inc. | Energy | $209.97M | $1.18B |
| 90 | INVX | Innovex International, Inc. | Energy | $203.41M | $1.76B |
| 91 | HP | Helmerich & Payne, Inc. | Energy | $196.85M | $3.52B |
| 92 | XPRO | Expro Ltd | Energy | $196.09M | $1.47B |
| 93 | CHRD | Chord Energy Corporation | Energy | $189.53M | $7.26B |
| 94 | CQP | Cheniere Energy Partners, L.P. | Energy | $182.00M | $27.77B |
| 95 | AM | Antero Midstream Corporation | Energy | $180.44M | $8.97B |
| 96 | TRGP | Targa Resources Corp. | Energy | $166.10M | $56.77B |
| 97 | PARR | Par Pacific Holdings, Inc. | Energy | $164.11M | $3.41B |
| 98 | HPK | HighPeak Energy, Inc. | Energy | $162.07M | $902.87M |
| 99 | TRMD | TORM plc | Energy | $158.10M | $3.53B |
| 100 | NVGS | Navigator Holdings Ltd. | Energy | $154.95M | $1.21B |
No companies match this search.
How this ranking is built
Companies are ranked by cash & equivalents as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why do energy cash balances swing so much with the commodity cycle?
Upstream revenue moves nearly one-for-one with realized oil and gas pricing, while the cost of extracting barrels moves only slowly. The gap between price and cash break-even widens dramatically in commodity upswings, generating large cash surpluses, and narrows or inverts during troughs. Integrated firms show somewhat steadier cash generation through downstream offsets, but even they see substantial cycle amplitude, which makes multi-year averages more informative than spot balances.
Why is capital allocation discipline more important than the absolute cash balance in energy?
The industry has a long track record of deploying cash at cycle peaks, acquiring assets at premium valuations or repurchasing shares when prices are elevated. Firms that sustain reserves into downturns gain the ability to acquire reserves at depressed prices, consolidate competitors at distressed valuations, or deploy capital countercyclically into field development. Reading cash reserves alongside a firm's historical pattern of deploying capital across cycles reveals whether the balance is likely to compound or deplete value.
How does reserve life affect the reading of energy cash?
Proved reserve life determines how quickly a firm must reinvest to maintain production. A firm with short reserve life faces near-term claims on its cash for drilling and development to keep output from declining, while longer-reserve-life peers can let cash accumulate with less reinvestment pressure. Evaluating cash balances alongside disclosed reserve life and capital efficiency metrics reveals how much of the reserve is genuinely available for shareholder return versus committed to sustaining production.