Costs vs. revenue by business segment
Midstream operators
Methodology: Production and revenue for large-cap oil-directed E&Ps reflect averages for select companies with a market cap of more than US$20 billion and producing more than 500 kboe/d of oil in US oil basins. Production and revenue for large-cap gas-directed E&Ps reflect averages for select companies with a market cap of more than US$5 billion and producing more than 2 Bcf/d of gas in US gas basins. Production and revenue for integrated majors reflect averages for select international companies with a market cap of more than US$200 billion and producing more than 500 kboe/d of oil and gas in the United States. Costs and revenue for midstream operators reflect averages for select companies with a market cap of more than US$50 billion whose core business is commodity transport services in the United States.
Source: “S&P Capital IQ Pro – Companies,” S&P Global, accessed October 2025; RMI Analysis.
