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Gas-Weighted E&Ps' Q2 2025 Earnings

2nd 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 $1,203.2 $773.8 $739.0 $34.8 $187.6 $6.3 $0.6 $234.9 $429.4
Ascent Resources Private $636.8 $294.2 $284.2 $10.1 $173.7 $0.0 $2.1 $166.7 $342.5
CNX Resources CNX $485.0 $132.0 $122.3 $9.7 $152.6 $0.0 $1.8 $198.7 $353.1
Comstock Resources CRK $340.0 $83.4 $72.9 $10.6 $158.4 $0.0 $0.0 $98.2 $256.5
Coterra Energy CTRA $1,708.0 $594.0 $507.0 $87.0 $579.0 $0.0 $4.0 $531.0 $1,114.0
EQT Corp. EQT $1,700.5 $534.6 $528.0 $6.6 $623.5 $3.3 $1.3 $537.9 $1,165.9
Expand Energy EXE $2,021.0 $763.0 $714.0 $49.0 $769.0 $0.0 $20.0 $469.0 $1,258.0
GulfPort Energy GPOR $311.5 $111.7 $104.1 $7.6 $73.6 $0.0 $0.0 $126.2 $199.8
National Fuel Gas NFG $303.9 $79.0 $73.9 $5.1 $68.8 $0.0 $0.0 $156.1 $224.9
Range Resources RRC $666.6 $335.2 $327.3 $7.8 $91.5 $6.8 $7.6 $225.6 $331.5
Total   $9,376.5 $3,700.9 $3,472.6 $228.3 $2,877.8 $16.3 $37.4 $2,744.1 $5,675.6

Source: Oil & Gas Financial Analytics, LLC

2nd Quarter 2025 ($/boe)

Company Ticker Revenue Lifting Costs Production Costs Prod. Taxes DD&A Impair. Explor. Pre-tax income Cash flow
Antero Resources  AR $23.1 $14.9 $14.2 $0.7 $3.6 $0.1 $0.0 $4.5 $8.3
Ascent Resources Private $20.6 $9.5 $9.2 $0.3 $5.6 $0.0 $0.1 $5.4 $11.1
CNX Resources CNX $17.4 $4.7 $4.4 $0.3 $5.5 $0.0 $0.1 $7.1 $12.6
Comstock Resources CRK $18.2 $4.5 $3.9 $0.6 $8.5 $0.0 $0.0 $5.2 $13.7
Coterra Energy CTRA $23.9 $8.3 $7.1 $1.2 $8.1 $0.0 $0.1 $7.4 $15.6
EQT Corp. EQT $18.0 $5.6 $5.6 $0.1 $6.6 $0.0 $0.0 $5.7 $12.3
Expand Energy EXE $18.5 $7.0 $6.5 $0.4 $7.0 $0.0 $0.2 $4.3 $11.5
GulfPort Energy GPOR $20.4 $7.3 $6.8 $0.5 $4.8 $0.0 $0.0 $8.3 $13.1
National Fuel Gas NFG $16.3 $4.2 $4.0 $0.3 $3.7 $0.0 $0.0 $8.4 $12.1
Range Resources RRC $20.0 $10.1 $9.8 $0.2 $2.7 $0.2 $0.2 $6.8 $9.9
Total   $19.9 $7.8 $7.4 $0.5 $6.1 $0.0 $0.1 $5.8 $12.0

Source: Oil & Gas Financial Analytics, LLC