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Gas-Weighted E&Ps' Q1 2025 Earnings

1st Quarter 2025 ($in Millions)

Company Ticker Revenue Lifting Costs Production Costs Prod. Taxes DD&A Impair. Explor. Pre-tax income Cash flow
Antero Resources  AR $1,392 $784 $729 $55 $186 $6 $1 $415 $607
Ascent Resources Private $748 $303 $292 $11 $173 $0 $2 $271 $445
CNX Resources CNX $551 $126 $118 $7 $127 $0 $2 $296 $425
Comstock Resources CRK $413 $89 $78 $11 $168 $0 $2 $154 $324
Coterra Energy CTRA $1,990 $594 $498 $96 $506 $0 $10 $880 $1,396
EQT Corp. EQT $2,245 $514 $514 $0 $621 $3 $1 $1,106 $1,731
Expand Energy EXE $2,300 $758 $710 $48 $711 $0 $7 $824 $1,542
GulfPort Energy GPOR $344 $110 $103 $7 $66 $0 $0 $168 $234
National Fuel Gas NFG $312 $79 $74 $4 $65 $0 $0 $169 $233
Range Resources RRC $792 $338 $331 $7 $91 $5 $6 $353 $454
Total   $11,086 $3,694 $3,448 $246 $2,713 $13 $31 $4,636 $7,392

Source: Oil & Gas Financial Analytics, LLC

1st Quarter 2025 ($/boe)

Company Ticker Revenue Lifting Costs Production Costs Prod. Taxes DD&A Impair. Explor. Pre-tax income Cash flow
Antero Resources  AR $27 $15.37 $14.29 $1.08 $3.65 $0.11 $0.01 $8.13 $11.91
Ascent Resources Private $25 $10.07 $9.72 $0.35 $5.75 $0.00 $0.05 $9.02 $14.82
CNX Resources CNX $22 $5.11 $4.81 $0.30 $5.16 $0.00 $0.08 $12.02 $17.27
Comstock Resources CRK $21 $4.61 $4.03 $0.58 $8.71 $0.00 $0.11 $8.00 $16.82
Coterra Energy CTRA $29 $8.65 $7.25 $1.40 $7.36 $0.00 $0.15 $12.81 $20.32
EQT Corp. EQT $24 $5.40 $5.40 $0.00 $6.53 $0.03 $0.01 $11.63 $18.19
Expand Energy EXE $22 $7.28 $6.82 $0.46 $6.83 $0.00 $0.07 $7.92 $14.82
GulfPort Energy GPOR $24 $7.70 $7.24 $0.47 $4.61 $0.00 $0.00 $11.80 $16.41
National Fuel Gas NFG $18 $4.48 $4.24 $0.24 $3.67 $0.00 $0.00 $9.59 $13.26
Range Resources RRC $24 $10.24 $10.03 $0.21 $2.74 $0.14 $0.18 $10.69 $13.76
Total   $24 $8.07 $7.53 $0.54 $5.93 $0.03 $0.07 $10.13 $16.15

Source: Oil & Gas Financial Analytics, LLC