Independent oil and gas producers remain the backbone of U.S. upstream activity, according to a new study by Rystad Energy commissioned by the American Exploration & Production Council (AXPC). The report underscores the sector’s outsized role in driving production, jobs and government revenue.
From 2022–2024, onshore independents accounted for more than 85% of U.S. crude and condensate output and over 90% of natural gas production. In 2024 alone, they supported 3.1 million jobs nationwide, contributed $277 billion in labor income, and paid $129 billion in taxes, the study found. Overall, independents generated $488 billion in GDP output, with each dollar invested producing $1.26 in secondary contributions.
“Independents are the backbone of America’s oil and natural gas production and the economic strength it delivers,” said Anne Bradbury, CEO of AXPC. “Their contributions go far beyond reliable energy—they create millions of jobs and deliver revenues that strengthen communities nationwide.”
Rystad’s analysis also showed that independents operated 95% of all producing onshore wells and drilled 90% of new wells between 2022 and 2024. The report highlights how the sector has not only sustained U.S. energy security but also delivered nearly 2% of the nation’s GDP while solidifying America’s position as the world’s leading oil and gas producer.
Source: Worldoil.com