Who Are America's Top 10 Gas Drillers?
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Chesapeake has built itself as a gas company, but it is increasingly looking for "liquids-rich plays," according to its annual report. Gas wells generally produce oil and other hydrocarbon liquids as well in varying amounts, depending on the geologic formation. With oil prices high and gas prices low, many companies are seeking more wells that are oil and liquids-rich, particularly in North Dakota, southern Texas and Pennsylvania.
Average Daily Natural Gas Production: 2.6 billion cubic feet.
Revenue, 2010: $9.4 billion.
Reserves, 2010: 14.3 trillion cubic feet of gas equivalent (10 percent of that is oil or other liquids, converted to the equivalent volume in gas).
Executive Compensation, 2010: Aubrey McClendon, the chairman and CEO, is also the company's founder. He has the unusual option of purchasing a small stake in every well the company drills. He received $21 million in total compensation.
Anadarko is one of the biggest independent oil and gas producers in the country, with exploration or production work in all major domestic drilling areas as well as in South America, Africa, Asia and New Zealand. The company was a minority owner in BP's Macondo well, which exploded last year, killing 11 people and spilling more than 200 million gallons of oil into the Gulf of Mexico.
Worldwide, natural gas makes up just over half of Anadarko's reserves, but 87 percent of the new wells it drilled in the United States last year were gas wells. Like many other companies, Anadarko is increasingly looking for oil and liquids-rich production this year.
Average Daily Natural Gas Production: 2.4 billion cubic feet.
Revenue, 2010: $11 billion.
Reserves, 2010: 749 million barrels of oil and condensate (458 million in the U.S.), 320 million barrels of natural gas liquids (307 million in the U.S.), 8.1 trillion cubic feet of gas, all in the United States.
Executive Compensation, 2010: James Hackett, the chairman and CEO, received $24 million in total compensation.
4. Devon Energy
Devon is an independent driller primarily active in the United States and Canada. The company is in the process of divesting operations in Angola and Brazil, its only holdings outside of North America.
More than 90 percent of Devon's U.S. reserves are in natural gas, with most of that lying in Texas' Barnett Shale. Like its peers, however, Devon says that this year it will focus on drilling in areas rich with oil and other liquids.
Average Daily Natural Gas Production: 2 billion cubic feet.
Revenue, 2010: $9.9 billion.
Reserves, 2010: 681 million barrels of oil (148 million in the U.S.), 479 million barrels of natural gas liquids (449 million in the U.S.), 10.3 trillion cubic feet of gas (9 trillion in the U.S.).
Executive Compensation, 2010: J. Larry Nichols, the chairman, received almost $19 million in total compensation. John Richels, president and CEO, received almost $18 million.
Fortune lists BP as the fourth-largest corporation in the world. The company drills in 29 countries and sells its products in 70. While BP is headquartered in London, 42 percent of the company's assets are in the United States. BP reported a $3.7 billion loss last year after spending nearly $41 billion on cleaning up the Gulf oil spill and compensating those who were affected.
The company remains primarily an oil producer, with about 40 percent of its reserves in natural gas.
Average Daily Natural Gas Production: 1.9 billion cubic feet.
Revenue, 2010: $297 billion.