Oil and gas producers with the highest profit margins

Ranked

55

of 72 oil and gas producers we cover

Median

13.4%

Highest

61.7%

BSM

Range

−68.0% to 61.7%

#	Company	Net margin	Operating margin	Revenue growth (TTM)	Market cap
1	BSMBlack Stone Minerals	61.7%	64.3%	+5.1%	$3.2B
2	TPLTexas Pacific Land	60.3%	74.9%	+20.8%	$23.3B
3	SDSandridge Energy	46.1%	41.1%	+23.2%	$547.2M
4	DMLPDorchester Minerals	45.5%	n/m	+13.9%	$1.5B
5	CNXCNX Resources	36.5%	53.4%	+61.9%	$5.4B
6	GPORGulfport Energy	32.3%	45.0%	+35.2%	$2.9B
7	OXYOccidental Petroleum	30.3%	27.3%	−13.0%	$64.1B
8	MGYMagnolia Oil & Gas	28.8%	38.0%	+11.4%	$6.2B
9	EQTEQT	28.4%	42.5%	+32.3%	$34.8B
10	EOGEOG Resources	25.4%	32.9%	+19.1%	$85.5B
11	RRCRange Resources	25.0%	34.8%	+23.2%	$10.6B
12	REPXRiley Exploration Permian	24.5%	38.4%	+23.2%	$1.1B
13	CRKComstock Resources	23.3%	28.8%	+31.6%	$4.1B
14	HESMHess Midstream	23.2%	62.1%	+2.8%	$3.9B
15	KRPKimbell Royalty Partners	23.0%	40.1%	+6.2%	$1.9B
16	BKVBKV	22.9%	33.5%	+36.1%	$2.2B
17	DECDiversified Energy	22.6%	32.6%	n/m	$1B
18	PRPermian Resources	21.5%	35.8%	+12.8%	$21.3B
19	APAAPA	21.1%	37.5%	−12.4%	$18.2B
20	EXEExpand Energy	20.5%	26.9%	+59.3%	$21.6B
21	MTDRMatador Resources	19.9%	32.2%	−3.6%	$7.4B
22	SMSM Energy	18.2%	29.6%	+75.4%	$9.5B
23	ARANTERO RESOURCES	17.7%	24.7%	+25.8%	$12.3B
24	DVNDevon Energy	16.7%	22.7%	+14.6%	$56.5B
25	LBLandBridge Co LLC	16.5%	61.3%	+44.1%	$6.1B
26	COPConocoPhillips	14.7%	21.2%	+9.6%	$181.2B
27	PNRGPrimeenergy Resources	13.9%	16.6%	−19.4%	$341.4M
28	CHRDChord Energy	13.4%	19.0%	+19.2%	$8.6B
29	INRInfinity Natural Resources	11.7%	40.9%	+75.4%	$909.5M
30	AMPYAmplify Energy	10.6%	19.9%	−23.7%	$190.3M
31	PARRPAR Pacific	9.9%	13.4%	+13.2%	$3.9B
32	MURMurphy Oil	9.7%	18.5%	+8.2%	$6.4B
33	OVVOvintiv	9.4%	9.7%	+6.0%	$19.9B
34	FANGDiamondback Energy	8.6%	6.3%	+21.4%	$57.6B
35	MNRMach Natural Resources	7.4%	14.4%	+34.4%	$1.8B
36	VNOMViper Energy	2.9%	12.3%	+107.8%	$16.9B
37	CRGYCrescent Energy	1.3%	20.6%	+24.3%	$4.6B
38	TTITetra Technologies	1.0%	7.3%	+5.7%	$789.2M
39	EPMEvolution Petroleum	−2.8%	4.0%	+0.6%	$157.9M
40	CRCCalifornia Resources	−3.8%	−1.7%	−22.5%	$4.8B
41	VTSVitesse Energy	−4.0%	7.0%	+8.5%	$768.4M
42	EPSNEpsilon Energy	−5.2%	1.0%	+53.7%	$192.6M
43	GRNTGranite Ridge Resources	−5.6%	7.5%	+14.6%	$772.9M
44	TXOTXO Partners	−9.2%	−10.6%	+22.2%	$786.8M
45	AESIAtlas Energy Solutions	−11.1%	−8.3%	−8.1%	$1.1B
46	PROPPrairie Operating	−13.0%	0.1%	+282.7%	$43.9M
47	PEDPedevco	−14.6%	14.0%	+229.4%	$198.4M
48	WTIW&T Offshore	−19.3%	1.0%	+13.7%	$632.5M
49	TALOTalos Energy	−20.5%	−12.7%	+2.4%	$3.1B
50	BATLBattalion Oil	−24.5%	−3.2%	−12.0%	$48.7M
51	NOGNorthern Oil & Gas	−25.4%	−24.1%	−25.6%	$3B
52	EGYVaalco Energy	−31.1%	−10.4%	−25.5%	$690.1M
53	KOSKosmos Energy	−34.2%	−12.6%	+6.4%	$1.7B
54	GTEGran Tierra Energy	−40.0%	−28.0%	+3.6%	$415M
55	REIRing Energy	−68.0%	−53.0%	−3.2%	$372.6M

Not ranked: 7 with a margin moved by items that are not sales, 5 with under $50M of revenue, 1 with a quarter missing. 4 companies whose data behind this number has a caveat are left out until it is checked.

A ranking of numbers, not a recommendation. A low multiple can be a bargain or a business in trouble: open the company to see which.