Which USA Oil Major Produced the Most in 1Q 2026?
by Andreas Exarheas | Rigzone Staff
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*this article was not written by Roseland Oil & Gas
Which U.S. oil major produced the most in the first quarter of 2026 – ExxonMobil, Chevron, or ConocoPhillips?
According to their first quarter results statements, Exxon took top spot, with 4.594 million barrels of oil equivalent per day, followed by Chevron, with 3.858 million barrels of oil equivalent per day, and Conoco, with 2.309 million barrels of oil equivalent per day.
Exxon’s production was down from its fourth quarter output figure of 4.988 million barrels of oil equivalent per day but up from its first quarter 2025 production figure of 4.551 million barrels of oil equivalent per day, its latest results statement showed. Chevron’s output figure was also down from its fourth quarter production of 4.045 million barrels of oil equivalent per day and up from its first quarter 2025 production figure of 3.353 million barrels of oil equivalent per day, while Conoco’s output was down from its first quarter 2025 production figure of 2.323 million barrels of oil equivalent per day, Chevron and Conoco’s first quarter results statements outlined.
Exxon
In its results statement, Exxon noted that Guyana set a new quarterly production record of more than 900,000 gross barrels of oil per day and highlighted that, at the end of March, Golden Pass LNG, a joint venture between the company and QatarEnergy, achieved first production of LNG from Train 1 at its Sabine Pass Terminal, “marking a major milestone” and “increasing U.S. exports by five percent relative to 2025”.
Which U.S. oil major produced the most in the first quarter of 2026 – ExxonMobil, Chevron, or ConocoPhillips?
“This quarter demonstrated that ExxonMobil is a fundamentally stronger company than it was just a few years ago, built to perform through disruption and across market cycles,” ExxonMobil Chairman and CEO Darren Woods said in Exxon’s first quarter results statement.
“Events in the Middle East tested that strength with the safety of our people remaining our top priority. Those events also underscored the importance of reliable, affordable energy products and the value of the capabilities we have built to deliver them,” he added.
“The underlying business delivered strong results, reflecting the benefits of the strategy we have consistently executed since 2018. We have grown advantaged volumes, optimized our operations, reduced structural costs, and strengthened our earnings power,” he went on to state.
Chevron
In its first quarter results statement, Chevron noted that production in the first quarter of 2026 was higher than the first quarter of last year “largely due to the acquisition of Hess Corporation and growth in the Gulf of America and the Permian Basin” and “partly offset by downtime at the company’s 50 percent owned affiliate Tengizchevroil (TCO) and curtailments in the Middle East (Israel and the Partitioned Zone between Saudi Arabia and Kuwait)”.
Chevron highlighted that U.S. production exceeded two million oil equivalent barrels per day for the third consecutive quarter and pointed out that expansions at Tamar and Leviathan in Israel had achieved start-up, “adding production capacity to support growing demand and regional energy security”.
Looking at its U.S. upstream segment in its results, Chevron revealed that net oil equivalent production during the quarter was up 388,000 barrels per day from the year-ago period “primarily due to the acquisition of Hess and higher production in the Gulf of America following project start-ups, and growth in the Permian Basin”.
Focusing on its international upstream segment, Chevron said its net oil equivalent production during the quarter was up 117,000 barrels per day from the year-ago period “primarily due to the acquisition of Hess, partly offset by lower production at TCO”.
Chevron Chairman and CEO Mike Wirth said in the company’s first quarter results statement that, “despite heightened geopolitical volatility and related supply disruptions, Chevron delivered solid first quarter performance, underscoring the resilience of our portfolio and the value of disciplined execution”.
“Strong operating results in the United States, particularly following the integration of Hess, and continued growth in the Gulf of America and Permian Basin, drove higher production while maintaining financial flexibility,” he added.
“We continue to closely monitor developments in the Middle East with a focus on the safety of our workforce and the integrity of our assets and operations,” Wirth continued.
Conoco
In its first quarter results statement, ConocoPhillips highlighted that its production for the first quarter of 2026 represented a decrease of 80,000 barrels of oil equivalent per day from the same period a year ago.
Conoco noted in the statement that, after adjusting for closed acquisitions and dispositions, first-quarter 2026 production decreased by 14,000 barrels of oil equivalent per day, or one percent, from the same period a year ago.
“Organic growth from Lower 48 was more than offset by downtime, which includes the impact of the Middle East conflict on Qatar, and higher Surmont royalties,” Conoco said in the statement.
The company revealed that the Lower 48 delivered production of 1.453 million barrels of oil equivalent per day, including 698,000 barrels of oil equivalent per day from the Delaware Basin, 200,000 barrels of oil equivalent per day from the Midland Basin, 367,000 barrels of oil equivalent per day from the Eagle Ford, and 183,000 barrels of oil equivalent per day from the Bakken.
“Our thoughts are with our team, partners and everyone impacted by the ongoing conflict in the Middle East,” Ryan Lance, chairman and chief executive officer of Conoco, said in the statement.
“Amid ongoing macro volatility, ConocoPhillips delivered another quarter of strong financial and operational performance,” he added.
by Andreas Exarheas | Rigzone Staff
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas