Largest ASX Listed Oil and Gas Companies in 2025
In the dynamic world of energy, Woodside Energy Group (ASX: WDS) stands out as a top choice for investors seeking exposure to the oil and gas sector on the Australian Securities Exchange (ASX). With a market cap of AU$43.32 billion and a share price of AU$22.94, Woodside is Australia's largest independent oil and gas company and a leader in natural gas production.
Woodside's dominance is rooted in its diversified production across LNG, oil, and emerging energy projects. The company's strong balance sheet, disciplined capital management, and consistent dividends make it a top-quality and relatively stable choice for long-term exposure to the sector.
In February 2025, Woodside announced a significant acquisition, purchasing the Baúna Cidade de Itajaí floating production, storage, and offloading facility in Brazil for US$115 million. This move further strengthens Woodside's global footprint and production capabilities.
Another notable event in Woodside's recent history is the asset swap with Chevron's indirect subsidiary, Chevron Australia, which is expected to close in 2026.
Meanwhile, Woodside achieved first production at the Sangomar project in Senegal in June 2024, and reported record output levels by the third quarter of 2024.
Besides Woodside, other ASX-listed oil and gas companies offer investment opportunities. Direct investment in these companies, although Woodside is often regarded as the pre-eminent option due to its scale and operational strength, is an option for those seeking more focused participation.
For those interested in cleaner energy alternatives or broader energy exposure, there are clean energy ETFs on the ASX, such as the VanEck Global Clean Energy ETF - ASX: CLNE. However, these focus mainly on renewables rather than oil and gas.
In the oil and gas sector, Santos (ASX: STO) is another significant player with a market cap of AU$20.61 billion and a share price of AU$6.46. Santos operates multiple joint ventures with significant LNG production, including the Papua New Guineau LNG project and the Gladstone LNG project in Queensland, Australia.
In May 2024, Santos secured a binding 10-year LNG supply and purchase agreement with Japan's Hokkaido Gas for approximately 400,000 tonnes of LNG per year starting in 2027.
Beach Energy (ASX: BPT), another ASX-listed oil and gas company, has a last share price of AU$1.31. The company's market cap, production, and significant events were not provided in the text.
In the realm of smaller players, Karoon Energy (ASX: KAR) and Viva Energy Australia (ASX: VVA) are worth mentioning. Karoon reported sales revenue of US$776.5 million for its full-year 2024 report, up 14 percent over the previous year. Viva Energy's energy and infrastructure segment reported an EBITDA of AU$94.3 million in its 2024 fiscal year.
Beach Energy reported sales revenues of AU$990 million for the first half of 2025, up 5 percent over the same period in the previous year. The company's production for the first half of 2025 was up 15 percent to 10.2 million barrels of oil.
In December 2023, Karoon completed its acquisition of interests in the US Gulf of Mexico from LLOG. Viva Energy Australia has a market cap of AU$2.79 billion and a share price of AU$1.785.
Geoscience Australia states that Australia hosts about 0.3 percent of global oil reserves. Most of Australia's known remaining oil resources are condensate and liquefied petroleum gas associated with giant offshore gas fields in the Browse, Carnarvon, and Bonaparte basins.
Beach Energy's production for 2024 was 18.2 million barrels of oil, a 7 percent decrease compared to the previous year. The company's 2024 fiscal year sales revenue was AU$1.8 billion, up 9 percent year-on-year. Beach Energy has a market cap of AU$3.29 billion and a share price of AU$1.435.
Karoon Energy has a market cap of AU$1.21 billion and a share price of AU$1.63. In its full-year 2024 report, Karoon reported sales revenue of US$776.5 million, up 14 percent over the previous year.
In June 2022, Woodside Petroleum merged with BHP's oil and gas business to form Woodside Energy Group, which now accounts for 5 percent of global LNG supply.
In conclusion, Woodside Energy Group (ASX: WDS) remains the best approach to gain exposure to the oil and gas sector on the ASX due to its market leadership, production growth, and strong cash flow. For those seeking more focused participation or cleaner energy alternatives, other ASX-listed companies and ETFs offer viable options.
- The strong financial performance of Woodside Energy Group (ASX: WDS) and its strategic acquisitions, such as the Baúna Cidade de Itajaí facility in Brazil, make it an attractive option for finance-focused investors in the energy industry.
- While Woodside Energy Group is a top choice for those seeking exposure to the oil and gas sector on the ASX, clean energy ETFs like the VanEck Global Clean Energy ETF - ASX: CLNE offer alternative investment options for those interested in cleaner energy alternatives or broader energy exposure.
