Top Energy Stocks by Total Assets
Top energy companies ranked by total assets, latest annual filings.
What Total Assets Means for Energy Companies
Total assets in energy is the physical chain from reservoir to pump: producing wells and developed reserves, gathering systems, pipelines, refineries and terminals. Producing properties are carried at cost less depletion as the barrels come out, so the recorded value falls as a field is drained. Everything is measured at what was spent, taken from the latest annual accounts, not at what the resource fetches today.
Why It Matters in Energy
Total assets matters here because it is the production capacity; barrels and cubic feet come from the wells, plants and pipelines on the books, and the capital cycle that builds them is funded with debt against those same assets. What complicates the reading is the commodity cycle. When prices drop for long enough, impairments cut carrying values even though the rock has not moved, and totals then rebuild through the next round of development spending.
What to Read Alongside
Pair total assets with Return on Assets to see what the producing base earns, Capital Expenditures for the drilling and maintenance that replaces it, and Long-Term Debt to see how much of it is borrowed.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | XOM | ExxonMobil Holdings Corporation | Energy | $448.98B | $758.81B |
| 2 | SHEL | Shell plc | Energy | $370.35B | $303.61B |
| 3 | CVX | Chevron Corporation | Energy | $324.01B | $455.11B |
| 4 | TTE | TotalEnergies SE | Energy | $291.06B | $206.72B |
| 5 | BP | BP p.l.c. | Energy | $278.53B | $130.14B |
| 6 | PBR | Petróleo Brasileiro S.A. - Petrobras | Energy | $222.34B | $145.00B |
| 7 | E | Eni S.p.A. | Energy | $160.86B | $86.58B |
| 8 | ENB | Enbridge Inc. | Energy | $159.33B | $107.56B |
| 9 | ET | Energy Transfer LP | Energy | $141.29B | $70.93B |
| 10 | EQNR | Equinor ASA | Energy | $131.73B | $113.92B |
| 11 | COP | ConocoPhillips | Energy | $121.94B | $181.85B |
| 12 | TRP | TC Energy Corporation | Energy | $86.60B | $65.07B |
| 13 | OXY | Occidental Petroleum Corporation | Energy | $84.19B | $64.05B |
| 14 | MPC | Marathon Petroleum Corporation | Energy | $83.95B | $132.17B |
| 15 | EPD | Enterprise Products Partners L.P. | Energy | $77.90B | $79.90B |
| 16 | PSX | Phillips 66 | Energy | $73.68B | $115.26B |
| 17 | KMI | Kinder Morgan, Inc. | Energy | $72.75B | $75.61B |
| 18 | FANG | Diamondback Energy, Inc. | Energy | $71.06B | $58.00B |
| 19 | CNQ | Canadian Natural Resources Limited | Energy | $66.97B | $113.61B |
| 20 | OKE | ONEOK, Inc. | Energy | $66.64B | $60.75B |
| 21 | WDS | Woodside Energy Group Ltd | Energy | $66.50B | $44.35B |
| 22 | SU | Suncor Energy Inc. | Energy | $65.57B | $92.96B |
| 23 | WMB | The Williams Companies, Inc. | Energy | $58.57B | $87.76B |
| 24 | VLO | Valero Energy Corporation | Energy | $57.99B | $122.88B |
| 25 | SLB | SLB N.V. | Energy | $54.87B | $78.35B |
| 26 | VG | Venture Global, Inc. | Energy | $53.45B | $34.40B |
| 27 | EOG | EOG Resources, Inc. | Energy | $51.80B | $85.85B |
| 28 | LNG | Cheniere Energy, Inc. | Energy | $47.88B | $62.08B |
| 29 | CVE | Cenovus Energy Inc. | Energy | $46.25B | $61.19B |
| 30 | MPLX | MPLX LP | Energy | $43.01B | $59.46B |
| 31 | EQT | EQT Corporation | Energy | $41.79B | $34.31B |
| 32 | BKR | Baker Hughes Company | Energy | $40.88B | $55.60B |
| 33 | DVN | Devon Energy Corporation | Energy | $31.60B | $56.80B |
| 34 | PAGP | Plains GP Holdings, L.P. | Energy | $31.28B | $5.71B |
| 35 | IMO | Imperial Oil Limited | Energy | $30.86B | $65.04B |
| 36 | PAA | Plains All American Pipeline, L.P. | Energy | $30.17B | $18.94B |
| 37 | YPF | YPF Sociedad Anónima | Energy | $29.44B | $19.31B |
| 38 | SUN | Sunoco LP | Energy | $28.36B | $13.99B |
| 39 | SUNC | SunocoCorp LLC | Energy | $28.36B | $3.82B |
| 40 | EXE | Expand Energy Corporation | Energy | $28.29B | $21.77B |
| 41 | PBA | Pembina Pipeline Corporation | Energy | $25.93B | $29.26B |
| 42 | TRGP | Targa Resources Corp. | Energy | $25.22B | $65.33B |
| 43 | HAL | Halliburton Company | Energy | $25.01B | $29.31B |
| 44 | OVV | Ovintiv Inc. | Energy | $20.39B | $20.07B |
| 45 | TS | Tenaris S.A. | Energy | $20.07B | $29.94B |
| 46 | PR | Permian Resources Corporation | Energy | $17.91B | $21.58B |
| 47 | APA | APA Corporation | Energy | $17.76B | $18.10B |
| 48 | CQP | Cheniere Energy Partners, L.P. | Energy | $17.44B | $32.08B |
| 49 | DINO | HF Sinclair Corporation | Energy | $16.51B | $22.27B |
| 50 | RIG | Transocean Ltd. | Energy | $15.64B | $7.29B |
| 51 | WES | Western Midstream Partners, LP | Energy | $15.00B | $18.66B |
| 52 | IEP | Icahn Enterprises L.P. | Energy | $14.21B | $4.09B |
| 53 | AR | Antero Resources Corporation | Energy | $13.25B | $12.77B |
| 54 | CHRD | Chord Energy Corporation | Energy | $13.07B | $8.54B |
| 55 | PBF | PBF Energy Inc. | Energy | $13.02B | $9.55B |
| 56 | VNOM | Viper Energy, Inc. | Energy | $12.67B | $9.17B |
| 57 | CRGY | Crescent Energy Company | Energy | $12.44B | $5.86B |
| 58 | NEXT | NextDecade Corporation | Energy | $12.43B | $1.68B |
| 59 | MTDR | Matador Resources Company | Energy | $11.71B | $7.44B |
| 60 | NOV | NOV Inc. | Energy | $11.29B | $7.20B |
| 61 | SOBO | South Bow Corporation | Energy | $11.19B | $7.44B |
| 62 | FTI | TechnipFMC plc | Energy | $10.12B | $27.61B |
| 63 | DTM | DT Midstream, Inc. | Energy | $10.08B | $12.95B |
| 64 | MUR | Murphy Oil Corporation | Energy | $9.83B | $6.34B |
| 65 | SM | SM Energy Company | Energy | $9.25B | $9.55B |
| 66 | CNX | CNX Resources Corporation | Energy | $9.09B | $5.57B |
| 67 | NFG | National Fuel Gas Company | Energy | $8.72B | $7.76B |
| 68 | CMBT | Cmb.Tech NV | Energy | $8.41B | $5.33B |
| 69 | NE | Noble Corporation plc | Energy | $7.53B | $7.63B |
| 70 | CCJ | Cameco Corporation | Energy | $7.51B | $34.44B |
| 71 | RRC | Range Resources Corporation | Energy | $7.42B | $12.51B |
| 72 | CRC | California Resources Corporation | Energy | $7.40B | $4.86B |
| 73 | VIST | Vista Energy, S.A.B. de C.V. | Energy | $7.11B | $8.07B |
| 74 | KNTK | Kinetik Holdings Inc. | Energy | $7.10B | $9.09B |
| 75 | CRK | Comstock Resources, Inc. | Energy | $7.01B | $4.21B |
| 76 | DK | Delek US Holdings, Inc. | Energy | $6.85B | $4.80B |
| 77 | HP | Helmerich & Payne, Inc. | Energy | $6.71B | $3.98B |
| 78 | DEC | Diversified Energy Company | Energy | $6.17B | $996.90M |
| 79 | CNR | Core Natural Resources, Inc. | Energy | $6.13B | $4.39B |
| 80 | AM | Antero Midstream Corporation | Energy | $5.88B | $9.87B |
| 81 | BTU | Peabody Energy Corporation | Energy | $5.81B | $2.73B |
| 82 | FRO | Frontline plc | Energy | $5.75B | $12.30B |
| 83 | PTEN | Patterson-UTI Energy, Inc. | Energy | $5.57B | $4.67B |
| 84 | TALO | Talos Energy Inc. | Energy | $5.55B | $3.10B |
| 85 | NOG | Northern Oil and Gas, Inc. | Energy | $5.41B | $3.03B |
| 86 | GLNG | Golar LNG Limited | Energy | $5.33B | $4.62B |
| 87 | VAL | Valaris Limited | Energy | $5.30B | $6.89B |
| 88 | WFRD | Weatherford International plc | Energy | $5.20B | $6.42B |
| 89 | GEL | Genesis Energy, L.P. | Energy | $4.86B | $1.76B |
| 90 | NBR | Nabors Industries Ltd. | Energy | $4.79B | $1.25B |
| 91 | KOS | Kosmos Energy Ltd. | Energy | $4.70B | $1.70B |
| 92 | HESM | Hess Midstream LP | Energy | $4.39B | $4.00B |
| 93 | AROC | Archrock, Inc. | Energy | $4.35B | $5.25B |
| 94 | KGS | Kodiak Gas Services, Inc. | Energy | $4.32B | $4.60B |
| 95 | NGL | NGL Energy Partners LP | Energy | $4.18B | $1.98B |
| 96 | EE | Excelerate Energy, Inc. | Energy | $4.13B | $1.02B |
| 97 | TEN | Tsakos Energy Navigation Limited | Energy | $3.95B | $1.66B |
| 98 | SDRL | Seadrill Limited | Energy | $3.95B | $3.25B |
| 99 | BKV | BKV Corporation | Energy | $3.94B | $2.28B |
| 100 | STNG | Scorpio Tankers Inc. | Energy | $3.92B | $4.36B |
No companies match this search.
Total assets measure balance-sheet size, not worth: a bank holding customer deposits carries assets many times its market value, while a software company of the same market value carries a fraction of them. Above 150 times market cap the accounts are not in US dollars, and the company is left out.
How this ranking is built
Companies are ranked by total assets 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.
- 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 asset totals fall after a price decline?
Accounting requires a carrying value to be tested when conditions change. A sustained fall in the commodity price lowers the expected cash from a field or a refinery, and the difference is written off as an impairment. The wells and plants are unchanged, but the recorded base shrinks, sometimes sharply, in a single quarter. Totals in this sector therefore follow the price cycle with a lag rather than tracking physical capacity.
Are undeveloped reserves included in total assets?
Largely not. What appears on the balance sheet is what has been spent on acquiring, exploring and developing a property, less depletion. Resources still in the ground with no development cost behind them add little or nothing to the recorded base, even when reserve reports value them highly. Comparing an explorer with an integrated refiner on balance sheet size therefore compares spending histories rather than resource endowments.