AI-assembled from public SEC filings
Oil and gas E&P peer review
Descriptive comparison assembled from public SEC filings and verified companyfacts.
Descriptive comparison — not investment advice. This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better. It is not a rating, recommendation, endorsement, forecast, or investment advice. Figures are as of their cited filing dates. See Disclaimer.
Methodology
Mechanical upstream E&P cluster: large U.S. oil and gas exploration and production companies in the existing grepcent universe with SEC SIC 1311 Crude Petroleum & Natural Gas, plus COP as a disclosed requested upstream peer whose cached SEC SIC is 2911 after its historical refining classification. Integrated majors, refiners, and midstream peers are excluded.
The cluster is selected mechanically from public SEC SIC 1311 companies already present in grepcent's processed universe and constrained to large U.S. upstream/E&P peers; COP is retained as a disclosed requested upstream peer rather than relabeled. Missing requested tickers are not fabricated. The review publishes no proprietary index-membership labels.
Provenance
Verified Quantitative Matrix
Numbers are templated from frozen SEC companyfacts-derived facts already verified by grepcent. Fiscal periods and filing dates are shown in each cell; comparability markers use day-level period ends and reported XBRL source concepts.
| Metric | EOG | COP | OXY | DVN | FANG | APA | CTRA |
|---|---|---|---|---|---|---|---|
| Revenue | 22,632,000,000 source | 58,944,000,000 source | 21,593,000,000 source | 17,188,000,000 source | 15,026,000,000 source | Not available. | 7,645,000,000 source |
| Operating margin | 28.21% source | Not available. | Not available. | Not available. | 8.43% source | Not available. | 32.07% source |
| Net margin Mixed reporting concepts: us-gaap:NetIncomeLoss, us-gaap:ProfitLoss, us-gaap:Revenues. Ticker concepts: COP -> us-gaap:NetIncomeLoss + us-gaap:Revenues; CTRA -> us-gaap:NetIncomeLoss + us-gaap:Revenues; DVN -> us-gaap:NetIncomeLoss + us-gaap:Revenues; EOG -> us-gaap:NetIncomeLoss + us-gaap:Revenues; FANG -> us-gaap:NetIncomeLoss + us-gaap:Revenues; OXY -> us-gaap:ProfitLoss + us-gaap:Revenues. | 22.00% source | 13.55% source | 10.97% source | 15.37% source | 11.07% source | Not available. | 22.46% source |
| Capital expenditures Mixed reporting concepts: us-gaap:PaymentsToAcquireOilAndGasProperty, us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties. Ticker concepts: APA -> us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties; CTRA -> us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties; DVN -> us-gaap:PaymentsToAcquireProductiveAssets; EOG -> us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment; FANG -> us-gaap:PaymentsToAcquireOilAndGasProperty; OXY -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. | 6,115,000,000 source | Not available. | 6,427,000,000 source | 3,592,000,000 source | 5,938,000,000 source | 2,740,000,000 source | 2,288,000,000 source |
| Capex / revenue Mixed reporting concepts: us-gaap:PaymentsToAcquireOilAndGasProperty, us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties, us-gaap:Revenues. Ticker concepts: CTRA -> us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties + us-gaap:Revenues; DVN -> us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:Revenues; EOG -> us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment + us-gaap:Revenues; FANG -> us-gaap:PaymentsToAcquireOilAndGasProperty + us-gaap:Revenues; OXY -> us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:Revenues. | 27.02% source | Not available. | 29.76% source | 20.90% source | 39.52% source | Not available. | 29.93% source |
| Free cash flow Mixed reporting concepts: us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireOilAndGasProperty, us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties. Ticker concepts: APA -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties; CTRA -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties; DVN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets; EOG -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment; FANG -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireOilAndGasProperty; OXY -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. | 3,929,000,000 source | Not available. | 4,105,000,000 source | 3,119,000,000 source | 2,820,000,000 source | 1,805,000,000 source | 1,733,000,000 source |
| FCF / revenue Mixed reporting concepts: us-gaap:NetCashProvidedByUsedInOperatingActivities, us-gaap:PaymentsToAcquireOilAndGasProperty, us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment, us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment, us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties, us-gaap:Revenues. Ticker concepts: CTRA -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToExploreAndDevelopOilAndGasProperties + us-gaap:Revenues; DVN -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireProductiveAssets + us-gaap:Revenues; EOG -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireOilAndGasPropertyAndEquipment + us-gaap:Revenues; FANG -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquireOilAndGasProperty + us-gaap:Revenues; OXY -> us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment + us-gaap:Revenues. | 17.36% source | Not available. | 19.01% source | 18.15% source | 18.77% source | Not available. | 22.67% source |
| Dividends paid Mixed reporting concepts: us-gaap:PaymentsOfDividends, us-gaap:PaymentsOfDividendsCommonStock. Ticker concepts: APA -> us-gaap:PaymentsOfDividendsCommonStock; COP -> us-gaap:PaymentsOfDividendsCommonStock; CTRA -> us-gaap:PaymentsOfDividends; DVN -> us-gaap:PaymentsOfDividends; FANG -> us-gaap:PaymentsOfDividendsCommonStock. | Not available. | 3,995,000,000 source | Not available. | 937,000,000 source Day-level period offset: different fiscal year (365 days before row reference) vs row reference 2025-12-31; offset. | 1,156,000,000 source | 360,000,000 source | 680,000,000 source |
| Share buybacks | 2,564,000,000 source | 5,018,000,000 source | 0.00 source | 1,050,000,000 source | 959,000,000 source Day-level period offset: different fiscal year (365 days before row reference) vs row reference 2025-12-31; offset. | Not available. | 141,000,000 source |
| Liabilities / equity leverage Mixed reporting concepts: us-gaap:Assets, us-gaap:Liabilities, us-gaap:StockholdersEquity. Ticker concepts: APA -> us-gaap:Assets + us-gaap:StockholdersEquity; COP -> us-gaap:Liabilities + us-gaap:StockholdersEquity; CTRA -> us-gaap:Liabilities + us-gaap:StockholdersEquity; DVN -> us-gaap:Assets + us-gaap:StockholdersEquity; EOG -> us-gaap:Assets + us-gaap:StockholdersEquity; FANG -> us-gaap:Liabilities + us-gaap:StockholdersEquity; OXY -> us-gaap:Assets + us-gaap:StockholdersEquity. | 0.74 source | 0.89 source | 1.34 source | 1.03 source | 0.76 source | 1.91 source | 0.63 source |
| Cash and equivalents | 3,396,000,000 source | 6,497,000,000 source | 1,968,000,000 source | 1,384,000,000 source | 104,000,000 source | 516,000,000 source | 114,000,000 source |
Code-computed comparisons
- grepcent-computed capex intensity range: range endpoints are DVN (20.90%) and FANG (39.52%).
- grepcent-computed FCF margin range: range endpoints are EOG (17.36%) and CTRA (22.67%).
Market-risk companion: risk and factor comparison from lmfin. It is descriptive and separate from the SEC fundamentals review.
Narrative Matrix
| Dimension | EOG | COP | OXY | DVN | FANG | APA | CTRA |
|---|---|---|---|---|---|---|---|
| Business model | In its latest annual MD&A, EOG describes this business model item. During 2025, EOG's drilling and completion activities occurred primarily in the Delaware Basin play, Eagle Ford play and Utica play. company page · source filing · filed 2026-02-24 | In its latest annual MD&A, COP describes this business model item. Total average production increased 332 MBOED in 2025 compared with 2024, primarily due to new wells online from our development programs in the Delaware Basin, Eagle Ford, Bakken and Midland Basin and the impact from our acquisition of Marathon Oil. company page · source filing · filed 2026-02-17 | In its latest annual MD&A, OXY describes this business model item. In 2025, oil and gas capital expenditures, including exploration, were approximately $5.6 billion and primarily focused on the Company’s assets in the Permian Basin, DJ Basin, Gulf of America and Oman. company page · source filing · filed 2026-02-18 | In its latest annual MD&A, DVN describes this business model item. Our operations are currently focused in four core areas: the Delaware Basin, Rockies, Eagle Ford and Anadarko Basin. company page · source filing · filed 2026-02-18 | In its latest annual MD&A, FANG describes this business model item. Our publicly traded subsidiary, Viper, also owns mineral interests underlying approximately 36,004 net royalty acres in the Delaware Basin and approximately 50,595 net royalty acres in the Midland Basin. company page · source filing · filed 2026-02-25 | In its latest annual MD&A, APA describes this business model item. The Company averaged approximately seven drilling rigs in the U.S. during the year, including four rigs in the Midland Basin and three rigs in the Delaware Basin, and drilled and brought online 154 operated wells in 2025. company page · source filing · filed 2026-02-26 | In its latest annual MD&A, CTRA describes this business model item. In 2025, our capital program focused on the Permian Basin, Marcellus Shale, and Anadarko Basin, where we drilled 384 gross wells (203.3 net) and completed 399 gross wells (198.3 net), of which 90 gross wells (57.6 net) were drilled but uncompleted in prior years. company page · source filing · filed 2026-02-27 |
| Stated strategy in filings | — | — | — | — | In its latest annual MD&A, FANG describes this stated strategy in filings item. Our board of directors has approved a return of capital commitment to our shareholders of at least 50% of our quarterly Adjusted Free Cash Flow. company page · source filing · filed 2026-02-25 | — | — |
| Idiosyncratic risks in filings | — | — | — | — | In its latest annual MD&A, FANG describes this idiosyncratic risks in filings item. In order to mitigate this volatility, we enter into derivative contracts with a number of financial institutions, all of which are participants in our credit facility, to economically hedge a portion of our estimated future crude oil and natural gas production as discussed further in Note 12—Derivatives in Item 8. company page · source filing · filed 2026-02-25 | — | — |
Provenance
Withheld quantitative rows
- reserves: Only 0 of 7 companies have a verified fact; threshold is 3.
- production_volumes: Only 0 of 7 companies have a verified fact; threshold is 3.
- realized_prices: Only 0 of 7 companies have a verified fact; threshold is 3.
Withheld dimensions
- geographic_customer_exposure: No quote passed the evidence checks.
- capital_allocation: No quote passed the evidence checks.
- recent_narrative_change: No quote passed the evidence checks.
Withheld cells
- EOG / geographic_customer_exposure: no quote passed the evidence checks
- COP / geographic_customer_exposure: no quote passed the evidence checks
- OXY / geographic_customer_exposure: no quote passed the evidence checks
- DVN / geographic_customer_exposure: no quote passed the evidence checks
- FANG / geographic_customer_exposure: no quote passed the evidence checks
- APA / geographic_customer_exposure: no quote passed the evidence checks
- CTRA / geographic_customer_exposure: no quote passed the evidence checks
- EOG / capital_allocation: no quote passed the evidence checks
- COP / capital_allocation: no quote passed the evidence checks
- OXY / capital_allocation: no quote passed the evidence checks
- DVN / capital_allocation: no quote passed the evidence checks
- FANG / capital_allocation: no quote passed the evidence checks
- APA / capital_allocation: no quote passed the evidence checks
- CTRA / capital_allocation: no quote passed the evidence checks
- EOG / stated_strategy: no quote passed the evidence checks
- COP / stated_strategy: no quote passed the evidence checks
- OXY / stated_strategy: no quote passed the evidence checks
- DVN / stated_strategy: no quote passed the evidence checks
- APA / stated_strategy: no quote passed the evidence checks
- CTRA / stated_strategy: no quote passed the evidence checks
- EOG / idiosyncratic_risks: no quote passed the evidence checks
- COP / idiosyncratic_risks: no quote passed the evidence checks
- OXY / idiosyncratic_risks: no quote passed the evidence checks
- DVN / idiosyncratic_risks: no quote passed the evidence checks