FINSTRAT. AFTER HOURS EDITION

STAGE 1 · SCORING UNIVERSE

Who gets scored.

Every US-listed energy company that could ever qualify, sorted by the rules in the scoring spec,
with a written reason for every company left out.

Built 2026-10-17 from SEC EDGAR · scoring spec v1.1

01

The filtering funnel

HOW 2,526 BECOME 239
  1. 01 /2,526

    Candidates

    Companies under the spec's SEC industry codes, plus current XLE and IXC US holdings and every company named in the config.

  2. 02 /357

    Passed the size screen

    Public float reached $300m at least once since 2009. Removes shells and micro-caps only.

  3. 03 /349

    Distinct companies

    After merging old and new IDs from holding-company reorganisations into one company.

  4. 04 /239

    Included

    104 listed now, 135 delisted (acquired, bankrupt or taken private; kept for the backtest).

02

Included, by peer group

RANKED ONLY AGAINST THEIR OWN GROUP
Included companies per peer group
Peer groupIncludedListed nowDelistedAssigned by hand
2202
12845833
15962
161241
7836422
Total23910413510
239 of 239
Included companies
TickerGroupStatusSICGroup fromEDGAR IDsXLE
XOMExxonMobil Holdings CorpIntegrated Listed2009-20252911By hand$511.0bn2115436 ← 34088●
CVXCHEVRON CORPIntegrated Listed2009-20252911By hand$293.8bn93410●
SLBSCHLUMBERGER LIMITED/NVEDGAR today: SLB LIMITED/NVServices Listed2009-20251389SIC$152.9bn87347●
COPCONOCOPHILLIPSProducers (E&P) Listed2009-20252911By hand$143.4bn1163165●
OXYOCCIDENTAL PETROLEUM CORP /DE/Producers (E&P) Listed2009-20251311SIC$83.2bn797468●
EOGEOG RESOURCES INCProducers (E&P) Listed2009-20251311SIC$71.9bn821189●
KMIKINDER MORGAN, INC.Midstream Listed2011-20254922SIC$69.7bn1506307●
WMBWILLIAMS COMPANIES, INC.Midstream Listed2009-20254922SIC$67.7bn107263●
HALHALLIBURTON COServices Listed2009-20251389SIC$60.2bn45012●
MPCMarathon Petroleum CorpRefiners Listed2011-20252911SIC$59.0bn1510295●
PSXPhillips 66Refiners Listed2012-20252911SIC$59.0bn1534701●
—ANADARKO PETROLEUM CORPProducers (E&P) Delisted2009-20181311SIC$55.3bn773910
LNGCheniere Energy, Inc.Midstream Listed2011-20254924By hand$53.6bn3570
—PIONEER NATURAL RESOURCES COProducers (E&P) Delisted2009-20231311SIC$53.2bn1038357
OKEONEOK INC /NEW/Midstream Listed2009-20254923SIC$51.1bn1039684●
VLOVALERO ENERGY CORP/TXRefiners Listed2009-20252911SIC$50.2bn1035002●
APAAPA CorpProducers (E&P) Listed2009-20251311SIC$47.4bn1841666 ← 6769●
—HESS CORPProducers (E&P) Delisted2009-20242911By hand$41.0bn4447
BKRBaker Hughes CoServices Listed2017-20253533SIC$37.7bn1701605●
TRGPTarga Resources Corp.Midstream Listed2011-20254922SIC$37.0bn1389170●
DVNDEVON ENERGY CORP/DEProducers (E&P) Listed2009-20251311SIC$35.9bn1090012●
FANGDiamondback Energy, Inc.Producers (E&P) Listed2012-20251311SIC$35.5bn1539838●
NOVNOV Inc.Services Listed2009-20253533SIC$35.4bn1021860
EQTEQT CorpProducers (E&P) Listed2009-20251311SIC$34.7bn33213●
—BAKER HUGHES INCEDGAR today: Baker Hughes Holdings LLCServices Delisted2009-20163533SIC$32.3bn808362
—Spectra Energy Corp.Midstream Delisted2009-20164923SIC$28.0bn1373835
—NOBLE ENERGY INCProducers (E&P) Delisted2009-20191311SIC$28.0bn72207
—MARATHON OIL CORPProducers (E&P) Delisted2009-20231311SIC$26.8bn101778
RIGTransocean Ltd.Services Listed2009-20251381SIC$23.8bn1451505
—XTO ENERGY INCProducers (E&P) Delisted2009-20091311SIC$21.3bn868809
EXEEXPAND ENERGY CorpProducers (E&P) Listed2009-20251311SIC$20.5bn895126●
—CONCHO RESOURCES INCProducers (E&P) Delisted2009-20191311SIC$20.5bn1358071
—Coterra Energy Inc.Producers (E&P) Listed2009-20251311SIC$20.2bn858470
—SOUTHWESTERN ENERGY COProducers (E&P) Delisted2009-20231311SIC$15.9bn7332
—EL PASO CORP/DEEDGAR today: EL PASO LLCMidstream Delisted2009-20114922SIC$15.6bn1066107
RRCRANGE RESOURCES CORPProducers (E&P) Listed2009-20251311SIC$14.3bn315852
—TESORO CORP /NEW/EDGAR today: ANDEAVOR LLCRefiners Delisted2009-20172911SIC$13.8bn50104
WFRDWeatherford International plcServices Listed2009-20253533SIC$13.4bn1603923 ← 1453090
—CAMERON INTERNATIONAL CORPServices Delisted2009-20153533SIC$12.9bn941548
MURMURPHY OIL CORPProducers (E&P) Listed2009-20251311SIC$12.7bn717423
OVVOvintiv Inc.Producers (E&P) Listed2016-20251311SIC$12.5bn1792580 ← 1157806
—CIMAREX ENERGY COProducers (E&P) Delisted2009-20201311SIC$12.3bn1168054
VALValaris LtdServices Listed2010-20251381SIC$11.7bn314808
ARANTERO RESOURCES CorpProducers (E&P) Listed2013-20251311SIC$11.7bn1433270
FTITechnipFMC plcServices Listed2017-20253533SIC$11.6bn1681459
HPHelmerich & Payne, Inc.Services Listed2009-20251381SIC$11.3bn46765
DTMDT Midstream, Inc.Midstream Listed2022-20254922SIC$11.0bn1842022
DINOHF Sinclair CorpRefiners Listed2009-20254610By hand$11.0bn1915657 ← 48039
CNXCNX Resources CorpProducers (E&P) Listed2009-20251311SIC$11.0bn1070412
PRPermian Resources CorpProducers (E&P) Listed2016-20251311SIC$10.5bn1658566
CHRDChord Energy CorpProducers (E&P) Listed2010-20251311SIC$10.4bn1486159
—Noble CorpServices Delisted2009-20211381SIC$9.8bn1458891
—WHITING PETROLEUM CORPEDGAR today: Whiting Holdings LLCProducers (E&P) Delisted2009-20211311SIC$9.6bn1255474
—CONTINENTAL RESOURCES, INCProducers (E&P) Delisted2010-20221311SIC$9.1bn732834
—NEWFIELD EXPLORATION CO /DE/Producers (E&P) Delisted2009-20181311SIC$9.1bn912750
—Parsley Energy, Inc.EDGAR today: Pioneer PE Holding LLCProducers (E&P) Delisted2014-20191311SIC$8.3bn1594466
OIIOCEANEERING INTERNATIONAL INCServices Listed2010-20251389SIC$8.3bn73756
NBRNABORS INDUSTRIES LTDServices Listed2009-20251381SIC$8.1bn1163739
SDSANDRIDGE ENERGY INCProducers (E&P) Listed2009-20251311SIC$8.0bn1349436
—FMC TECHNOLOGIES INCServices Delisted2009-20153533SIC$7.9bn1135152
—LINN ENERGY, INC.EDGAR today: Pressburg, LLCProducers (E&P) Delisted2017-20171311SIC$7.5bn1326428
—Cobalt International Energy, Inc.Producers (E&P) Delisted2011-20171311SIC$7.5bn1471261
CLBCore Laboratories Inc. /DE/Services Listed2010-20251389SIC$7.3bn1958086 ← 1000229
—WPX ENERGY, INC.Producers (E&P) Delisted2012-20191311SIC$7.2bn1518832
—ULTRA PETROLEUM CORPProducers (E&P) Delisted2009-20191311SIC$7.0bn1022646
—DENBURY INCProducers (E&P) Delisted2009-20221311SIC$7.0bn945764
MTDRMatador Resources CoProducers (E&P) Listed2012-20251311SIC$6.9bn1520006
—CIVITAS RESOURCES, INC.Producers (E&P) Listed2012-20241311SIC$6.8bn1509589
—ENERGEN CORPProducers (E&P) Delisted2009-20171311SIC$6.4bn277595
AMAntero Midstream CorpMidstream Listed2019-20254922SIC$6.4bn1623925
—QEP RESOURCES, INC.Producers (E&P) Delisted2012-20201311SIC$6.2bn1108827
—PETROHAWK ENERGY CORPProducers (E&P) Delisted2009-20101311SIC$6.0bn1059324
—PDC ENERGY, INC.Producers (E&P) Delisted2011-20221311SIC$5.9bn77877
—SUPERIOR ENERGY SERVICES INCServices Delisted2009-20191389SIC$5.8bn886835
—DIAMOND OFFSHORE DRILLING, INC.Services Delisted2009-20231381SIC$5.7bn949039
—SMITH INTERNATIONAL INCServices Delisted2009-20093533SIC$5.6bn721083
SMSM Energy CoProducers (E&P) Listed2010-20251311SIC$5.6bn893538
GPORGULFPORT ENERGY CORPProducers (E&P) Listed2011-20251311SIC$5.4bn874499
—PLAINS EXPLORATION & PRODUCTION COProducers (E&P) Delisted2009-20121311SIC$5.3bn891456
PBFPBF Energy Inc.Refiners Listed2013-20252911SIC$5.3bn1534504
NENoble Corp plcServices Listed2022-20251381SIC$5.1bn1895262
—SUNOCO INCRefiners Delisted2010-20112911SIC$5.0bn95304
OISOIL STATES INTERNATIONAL, INCServices Listed2009-20253533SIC$5.0bn1121484
PTENPATTERSON UTI ENERGY INCServices Listed2009-20251381SIC$5.0bn889900
—SOUTHERN UNION COMidstream Delisted2009-20114922SIC$4.7bn203248
MGYMagnolia Oil & Gas CorpProducers (E&P) Listed2017-20251311SIC$4.5bn1698990
INVXInnovex International, Inc.Services Listed2010-20253533SIC$4.3bn1042893
—RSP Permian, Inc.Producers (E&P) Delisted2014-20171311SIC$4.3bn1588216
—PRIDE INTERNATIONAL INCServices Delisted2009-20101381SIC$4.3bn833081
AROCArchrock, Inc.Midstream Listed2009-20254922SIC$4.3bn1389050
—ROWAN COMPANIES PLCServices Delisted2009-20181381SIC$4.2bn85408
DKDelek US Holdings, Inc.Refiners Listed2010-20252911SIC$4.2bn1694426 ← 1351541
—Equitrans Midstream CorpEDGAR today: Midstream Co LLCMidstream Delisted2019-20234922SIC$4.1bn1747009
CRCCalifornia Resources CorpProducers (E&P) Listed2015-20251311SIC$3.8bn1609253
DNOWDNOW Inc.Services Listed2014-20253533SIC$3.8bn1599617
NOGNORTHERN OIL & GAS, INC.Producers (E&P) Listed2010-20251311SIC$3.6bn*1104485
—ATWOOD OCEANICS INCServices Delisted2009-20161381SIC$3.5bn8411
WHDCactus, Inc.Services Listed2018-20253533SIC$3.5bn1699136
—EXCO RESOURCES INCProducers (E&P) Delisted2010-20181311SIC$3.5bn316300
—SemGroup CorpServices Delisted2011-20181389SIC$3.5bn1489136
—Rosetta Resources Inc.EDGAR today: NBL Texas, LLCProducers (E&P) Delisted2011-20141311SIC$3.4bn1340282
—Rice Energy Inc.EDGAR today: EQT RE, LLCProducers (E&P) Delisted2014-20161311SIC$3.4bn1588238
PEDPEDEVCO CORPProducers (E&P) Listed2011-20251311SIC$3.4bn*1141197
LBRTLiberty Energy Inc.Services Listed2018-20251389SIC$3.3bn1694028
—Western Refining, Inc.Refiners Delisted2010-20162911SIC$3.1bn1339048
—SABINE OIL & GAS CORPProducers (E&P) Delisted2009-20151311SIC$3.1bn38079
—CARRIZO OIL & GAS INCProducers (E&P) Delisted2011-20181311SIC$2.9bn1040593
—BJ SERVICES COEDGAR today: BJ SERVICES CO LLCServices Delisted2009-20091389SIC$2.9bn864328
KOSKosmos Energy Ltd.Producers (E&P) Listed2011-20251311SIC$2.8bn1509991
SDRLSEADRILL LtdServices Listed2024-20251381SIC$2.7bn1737706
—Callon Petroleum CoProducers (E&P) Delisted2010-20231311SIC$2.6bn928022
—STONE ENERGY CORPEDGAR today: TALOS PETROLEUM LLCProducers (E&P) Delisted2010-20171311SIC$2.6bn904080
—Vanguard Natural Resources, Inc.EDGAR today: Grizzly Energy, LLCProducers (E&P) Delisted2018-20181311SIC$2.6bn1384072
HOSHELIX ENERGY SOLUTIONS GROUP INCEDGAR today: HORNBECK OFFSHORE SERVICES, INC.Services Listed2009-20251389SIC$2.6bn866829
—BERRY PETROLEUM COEDGAR today: Berry Petroleum Company, LLCProducers (E&P) Delisted2010-20121311SIC$2.6bn778438
—Vital Energy, Inc.Producers (E&P) Listed2012-20241311SIC$2.6bn1528129
—Energy XXI LtdServices Delisted2011-20151382SIC$2.4bn1343719
FETFORUM ENERGY TECHNOLOGIES, INC.Services Listed2012-20253533SIC$2.4bn1401257
CRKCOMSTOCK RESOURCES INCProducers (E&P) Listed2009-20251311SIC$2.2bn23194
GTEGRAN TIERRA ENERGY INC.Producers (E&P) Listed2010-20251311SIC$2.2bn1273441
—KEY ENERGY SERVICES INCServices Delisted2009-20191389SIC$2.2bn318996
CVICVR ENERGY INCRefiners Listed2010-20252911SIC$2.2bn1376139
—EXPRO GROUP HOLDINGS N.V.Services Listed2014-20251389SIC$2.0bn1575828
—SRC Energy Inc.Producers (E&P) Delisted2012-20181311SIC$2.0bn1413507
KNTKKinetik Holdings Inc.Midstream Listed2017-20254922SIC$2.0bn1692787
—Sanchez Energy CorpProducers (E&P) Delisted2012-20181311SIC$2.0bn1528837
—HighPoint Resources CorpProducers (E&P) Delisted2010-20201311SIC$1.9bn1725526 ← 1172139
KGSKodiak Gas Services, Inc.Midstream Listed2023-20254922SIC$1.9bn1767042
—C&J Energy Services, Inc.EDGAR today: King Merger Sub II LLCServices Delisted2015-20181389SIC$1.9bn1615817
—Kodiak Oil & Gas CorpEDGAR today: Whiting Canadian Holding Co ULCServices Delisted2011-20131382SIC$1.9bn1322866
—Harvest Oil & Gas Corp.Producers (E&P) Delisted2019-20191311SIC$1.9bn1361937
—UNIT CORPProducers (E&P) Delisted2010-20221311SIC$1.8bn798949
BATLBATTALION OIL CORPProducers (E&P) Listed2010-20251311SIC$1.8bn1282648
—MCMORAN EXPLORATION CO /DE/Producers (E&P) Delisted2010-20131311SIC$1.8bn*64279
—NEXTIER OILFIELD SOLUTIONS INC.Services Delisted2017-20221389SIC$1.8bn1688476
—QUICKSILVER RESOURCES INCProducers (E&P) Delisted2010-20141311SIC$1.8bn1060990
—BRIGHAM EXPLORATION COProducers (E&P) Delisted2010-20101311SIC$1.7bn1034755
—C&J Energy Services, Inc.EDGAR today: C&J Old Co,Inc.Services Delisted2012-20141389SIC$1.7bn1509273
—TELLURIAN INC. /DE/Producers (E&P) Delisted2011-20231311SIC$1.7bn61398
—Memorial Resource Development Corp.EDGAR today: Range Resources - Louisiana, Inc.Producers (E&P) Delisted2014-20151311SIC$1.6bn1599222
—MAGNUM HUNTER RESOURCES CORPProducers (E&P) Delisted2010-20151311SIC$1.6bn1335190
—SILVERBOW RESOURCES, INC.Producers (E&P) Delisted2009-20231311SIC$1.6bn351817
PARRPAR PACIFIC HOLDINGS, INC.Refiners Listed2010-20251311By hand$1.6bn821483
TALOTALOS ENERGY INC.Producers (E&P) Listed2018-20251311SIC$1.5bn1724965
AESIAtlas Energy Solutions Inc.Services Listed2023-20251311By hand$1.5bn1984060
PUMPProPetro Holding Corp.Services Listed2017-20251389SIC$1.5bn1680247
RESRPC INCServices Listed2011-20251389SIC$1.4bn742278
CLMTCalumet, Inc. /DERefiners Listed2024-20252911SIC$1.4bn2013745
—ION GEOPHYSICAL CORPServices Delisted2010-20201382SIC$1.4bn866609
—Amplify Energy CorpEDGAR today: Amplify Energy Holdings LLCProducers (E&P) Delisted2017-20181311SIC$1.3bn1521847
CRGYCrescent Energy CoProducers (E&P) Listed2022-20251311SIC$1.3bn1866175
NEXTNextDecade CorpMidstream Listed2015-20254923SIC$1.2bn1612720
—Extraction Oil & Gas, Inc.Producers (E&P) Delisted2017-20201311SIC$1.2bn1655020
SOCSable Offshore Corp.Producers (E&P) Listed2021-20251311SIC$1.2bn1831481
—FRONTIER OIL CORP /NEW/Refiners Delisted2009-20102911SIC$1.2bn110430
—GULFMARK OFFSHORE INCServices Delisted2009-20173533SIC$1.2bn1030749
—MARINER ENERGY INCProducers (E&P) Delisted2009-20091311SIC$1.1bn1022345
—Ranger Oil CorpEDGAR today: BAYTEX ENERGY USA, INC.Producers (E&P) Delisted2010-20221311SIC$1.1bn77159
—HERCULES OFFSHORE, INC.Services Delisted2010-20151381SIC$1.1bn1330849
—PIONEER ENERGY SERVICES CORPEDGAR today: PIONEER ENERGY SERVICES LLCServices Delisted2011-20191381SIC$1.1bn320575
—Seventy Seven Energy Inc.Services Delisted2014-20161389SIC$1.1bn1532930
—EPL OIL & GAS, INC.Producers (E&P) Delisted2013-20131311SIC$1.1bn750199
—Alta Mesa Resources, Inc. /DEProducers (E&P) Delisted2017-20191311SIC$1.1bn1690769
—BASIC ENERGY SERVICES, INC.Services Delisted2010-20201389SIC$1.1bn1109189
WTTRSelect Water Solutions, Inc.Services Listed2017-20251389SIC$1.0bn*1693256
—GOODRICH PETROLEUM CORPProducers (E&P) Delisted2010-20201311SIC$1.0bn943861
SEISolaris Energy Infrastructure, Inc.Services Listed2017-20253533SIC$1.0bn1697500
TTITETRA TECHNOLOGIES INCServices Listed2009-20251311By hand$0.9bn844965
—Complete Production Services, Inc.EDGAR today: Superior Energy Services-North America Services, IncServices Delisted2009-20101389SIC$0.9bn1340041
—PARAGON OFFSHORE PLCServices Delisted2014-20161381SIC$0.9bn1594590
WTIW&T OFFSHORE INCProducers (E&P) Listed2011-20251311SIC$0.9bn1288403
—Approach Resources IncProducers (E&P) Delisted2010-20181311SIC$0.9bn1405073
—REX ENERGY CORPProducers (E&P) Delisted2011-20171311SIC$0.8bn1397516
—CLAYTON WILLIAMS ENERGY INC /DEProducers (E&P) Delisted2011-20161311SIC$0.8bn880115
DECDiversified Energy Co PLCEDGAR today: Diversified Energy CoProducers (E&P) Listed2025-20251311SIC$0.8bn1922446
—APCO OIL & GAS INTERNATIONAL INCProducers (E&P) Delisted2010-20131311SIC$0.8bn311471
—PARKER DRILLING CO /DE/Services Delisted2010-20191381SIC$0.8bn76321
—Montage Resources CorpProducers (E&P) Delisted2014-20191311SIC$0.8bn1600470
—CONTANGO OIL & GAS COProducers (E&P) Delisted2011-20201311SIC$0.8bn1071993
—Jagged Peak Energy Inc.Producers (E&P) Delisted2017-20181311SIC$0.8bn1685715
—EP Energy CorpProducers (E&P) Delisted2014-20191311SIC$0.7bn1584952
REIRING ENERGY, INC.Producers (E&P) Listed2012-20251311SIC$0.7bn1384195
—Vertex Energy Inc.Refiners Delisted2011-20232911SIC$0.7bn890447
—Triangle Petroleum CorpProducers (E&P) Delisted2011-20151311SIC$0.7bn1281922
—ATP OIL & GAS CORPProducers (E&P) Delisted2011-20111311SIC$0.7bn1123647
—TESCO CORPServices Delisted2010-20163533SIC$0.7bn1022705
—CNX Gas CorpProducers (E&P) Delisted2009-20091311SIC$0.7bn1335793
EGYVAALCO ENERGY INC /DE/Producers (E&P) Listed2011-20251311SIC$0.6bn894627
VTSVitesse Energy, Inc.Producers (E&P) Listed2023-20251311SIC$0.6bn1944558
—Resolute Energy CorpEDGAR today: Cimarex Resolute LLCProducers (E&P) Delisted2011-20171311SIC$0.6bn1469510
—Nuverra Environmental Solutions, Inc.Services Delisted2011-20201389SIC$0.6bn1403853
—ABRAXAS PETROLEUM CORPProducers (E&P) Delisted2010-20221311SIC$0.6bn867665
—EARTHSTONE ENERGY INCProducers (E&P) Delisted2011-20221311SIC$0.6bn10254
—Berry Corp (bry)Producers (E&P) Listed2019-20241311SIC$0.6bn1705873
—Chaparral Energy, Inc.Producers (E&P) Delisted2018-20191311SIC$0.6bn1346980
—Alon USA Energy, Inc.Refiners Delisted2011-20162911SIC$0.6bn1325955
—FX ENERGY INCProducers (E&P) Delisted2010-20141311SIC$0.5bn907649
—Gastar Exploration Inc.Producers (E&P) Delisted2013-20171311SIC$0.5bn1431372
—Aris Water Solutions, Inc.Services Listed2022-20241389SIC$0.5bn1865187
—Dominovas Energy CorpServices Delisted2012-20161382SIC$0.5bn1343254
KLXEKLX Energy Services Holdings, Inc.Services Listed2019-20251389SIC$0.5bn1738827
—Vantage Drilling COServices Delisted2011-20141381SIC$0.5bn1419428
—Willbros Group, Inc.\NEW\Services Delisted2010-20171389SIC$0.5bn1449732
NINENine Energy Service, Inc.Services Listed2018-20251389SIC$0.5bn1532286
—Cal Dive International, Inc.Services Delisted2011-20141389SIC$0.5bn1364100
TBNTamboran Resources CorpProducers (E&P) Listed2024-20251311SIC$0.5bn1997652
—FTS International, Inc.Services Delisted2018-20201389SIC$0.5bn1529463
—WARREN RESOURCES INCProducers (E&P) Delisted2011-20161311SIC$0.5bn892986
—GLOBAL INDUSTRIES LTDServices Delisted2010-20101389SIC$0.5bn895663
—PACIFIC DRILLING S.A.Services Delisted2019-20191381SIC$0.5bn1517342
—Energy XXI Gulf Coast, Inc.Producers (E&P) Delisted2016-20171311SIC$0.5bn1404973
—GEORESOURCES INCProducers (E&P) Delisted2011-20111311SIC$0.5bn41023
—Legacy Reserves Inc.Producers (E&P) Delisted2018-20191311SIC$0.5bn1735828
BKVBKV CorpProducers (E&P) Listed2025-20251311SIC$0.4bn1838406
TUSKMAMMOTH ENERGY SERVICES, INC.Services Listed2016-20251389SIC$0.4bn1679268
—Athlon Energy Inc.Producers (E&P) Delisted2013-20131311SIC$0.4bn1574648
GRNTGranite Ridge Resources, Inc.Producers (E&P) Listed2023-20251311SIC$0.4bn1928446
NESRNational Energy Services Reunited Corp.Services Listed2017-20251389SIC$0.4bn1698514
NGSNATURAL GAS SERVICES GROUP INCServices Listed2011-20251389SIC$0.4bn1084991
SMCSummit Midstream CorpMidstream Listed2024-20254922SIC$0.4bn2024218
—HYPERDYNAMICS CORPProducers (E&P) Delisted2011-20161311SIC$0.4bn937136
—ISRAMCO INCProducers (E&P) Delisted2011-20191311SIC$0.4bn719209
—Venoco, Inc.Producers (E&P) Delisted2011-20121311SIC$0.4bn1313024
—Erin Energy Corp.Services Delisted2011-20171381SIC$0.4bn1402281
—HARVEST NATURAL RESOURCES, INC.Producers (E&P) Delisted2010-20161311SIC$0.4bn845289
—ENDEAVOUR INTERNATIONAL CORPProducers (E&P) Delisted2011-20141311SIC$0.4bn1112412
—Emerald Oil, Inc.Producers (E&P) Delisted2011-20141311SIC$0.4bn1283843
HPKHighPeak Energy, Inc.Producers (E&P) Listed2021-20251381By hand$0.4bn1792849
FLOCFlowco Holdings Inc.Services Listed2025-20253533SIC$0.4bn2035149
—TRANSATLANTIC PETROLEUM LTD.Services Delisted2011-20191382SIC$0.4bn1092289
—GULFSLOPE ENERGY, INC.Producers (E&P) Delisted2011-20221311SIC$0.3bn1341726
—Osprey Energy Acquisition CorpEDGAR today: STR Sub Inc.Producers (E&P) Delisted2017-20181311SIC$0.3bn1703785
—DAWSON GEOPHYSICAL COEDGAR today: DAWSON OPERATING COServices Delisted2010-20141382SIC$0.3bn351231
—Global Geophysical Services IncServices Delisted2011-20131382SIC$0.3bn1311486
AMPYAmplify Energy Corp.Producers (E&P) Listed2012-20251311SIC$0.3bn1533924
—PETROQUEST ENERGY INCProducers (E&P) Delisted2010-20181311SIC$0.3bn872248
—U.S. WELL SERVICES, INC.EDGAR today: U.S. WELL SERVICES HOLDINGS, LLCServices Delisted2019-20211389SIC$0.3bn1670349
PNRGPRIMEENERGY RESOURCES CORPProducers (E&P) Listed2011-20251311SIC$0.1bn*56868
—ARKANOVA ENERGY CORP.Services Delisted2011-20161381SIC$0.0bn*1191359

Peak float is the highest public float a company reported since 2009. Some companies mis-tag their own float in thousands instead of dollars (one year ~1,000× the rest); any year more than 100× the company’s median year is dropped from this column and marked *. The size screen used the looser $1tn cap, so it errs towards inclusion. “EDGAR IDs” reads newest ← oldest when a predecessor is linked.

03

Excluded, and why

THE FIRST RULE A COMPANY FAILS IS ITS REASON
Exclusions by reason
ReasonWhat it meansCompanies
partnership or LLC units while listed — excluded in v194
excluded by hand in config/universe.yaml10
mineral / royalty company — no operating costs to compare (agreed 2026-10-17)5
reports in a currency other than USD1
Total110
All 110 excluded companies
Excluded companies
TickerCompany (name while listed)ReasonDetailSICStatusXLE
—American Midstream Partners, LPEDGAR today: Third Coast Midstream, LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—ANDEAVOR LOGISTICS LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Antero Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Archrock Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Atlas Energy, L.P.EDGAR today: Targa Energy LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—ATLAS PIPELINE PARTNERS LPEDGAR today: Targa Pipeline Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Atlas Resource Partners, L.P.EDGAR today: Titan Energy, LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v11381 Delisted
BSMBlack Stone Minerals, L.P.Minerals / royaltymineral / royalty company — no operating costs to compare (agreed 2026-10-17)1311 Listed
—Boardwalk Pipeline Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
—BP Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Breitburn Energy Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—Brigham Minerals, Inc.EDGAR today: MNRL Sub Inc.Minerals / royaltymineral / royalty company — no operating costs to compare (agreed 2026-10-17)1311 Delisted
—BUCKEYE PARTNERS, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Calumet Specialty Products Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v12911 Delisted
CTRICenturi Holdings, Inc.Hand exclusionCenturi — contractor for utility infrastructure, spun out of Southwest Gas; not an energy producer or midstream operator.4923 Listed
CPKCHESAPEAKE UTILITIES CORPHand exclusionChesapeake Utilities — regulated gas and electric utility filed under SIC 4923.4923 Listed
—CNX Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Columbia Pipeline Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Copano Energy, L.L.C.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Crestwood Equity Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14923 Delisted
—Crestwood Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Crestwood Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—CSI Compressco LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11389 Delisted
—CVR Refining, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v12911 Delisted
—DCP Midstream, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
DKLDelek Logistics Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Listed
—Dominion Energy Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
DMLPDORCHESTER MINERALS, L.P.Minerals / royaltymineral / royalty company — no operating costs to compare (agreed 2026-10-17)1311 Listed
—Duncan Energy Partners L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—EAGLE ROCK ENERGY PARTNERS L PPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—El Paso Pipeline Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Enable Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—ENBRIDGE ENERGY MANAGEMENT L L CPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—ENBRIDGE ENERGY PARTNERS LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
ENBENBRIDGE INCNon-USD reporterreports in a currency other than USD4610 Listed
—Encore Energy Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
ETEnergy Transfer LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
—Energy Transfer Partners, L.P.EDGAR today: Energy Transfer, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Energy Transfer Partners, L.P.EDGAR today: Energy Transfer Operating, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—EnLink Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—EnLink Midstream, LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
EPDENTERPRISE PRODUCTS PARTNERS L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
—EQM Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—EQT GP Holdings, LPEDGAR today: EQGP Holdings, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
GELGENESIS ENERGY LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Listed
HESMHess Midstream LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Listed
—Hess Midstream Partners LPEDGAR today: Hess Midstream Operations LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—HOLLY ENERGY PARTNERS LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
IEPICAHN ENTERPRISES L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v12911 Listed
KRPKimbell Royalty Partners, LPMinerals / royaltymineral / royalty company — no operating costs to compare (agreed 2026-10-17)1311 Listed
—KINDER MORGAN ENERGY PARTNERS L PPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—KINDER MORGAN MANAGEMENT LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—LEGACY RESERVES LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—LinnCo, LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—LRR Energy, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
MNRMACH NATURAL RESOURCES LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Listed
—Magellan Midstream Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—MARKWEST ENERGY PARTNERS L PPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—Mid-Con Energy Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—Midcoast Energy Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14923 Delisted
MPLXMPLX LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Listed
VNOMNew Cobra Pubco, Inc.EDGAR today: Viper Energy, Inc.Hand exclusionMineral and royalty company; same reasoning as TPL (agreed 2026-10-17).1311 Listed
—New Source Energy Partners L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
NGLNGL Energy Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
—NOBLE CORPEDGAR today: Noble Finance CoHand exclusionNoble's pre-2009 Cayman parent. After the 2009 redomicile it files as a subsidiary and copies its parent's float (2009, 2016), so it would double-count Noble Corp (1458891).1381 Delisted
—Noble Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Northern Tier Energy LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v12911 Delisted
—NuStar Energy L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—NuStar GP Holdings, LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Oiltanking Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—ONEOK Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—PAA NATURAL GAS STORAGE LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—PANHANDLE OIL & GAS INCEDGAR today: PHX MINERALS INC.Hand exclusionPanhandle Oil & Gas / PHX Minerals — a mineral and royalty owner throughout (formerly Panhandle Royalty Co).1311 Delisted
—PBF Logistics LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—PennTex Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—PHILLIPS 66 PARTNERS LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Pioneer Southwest Energy Partners L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
PAAPLAINS ALL AMERICAN PIPELINE LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Listed
PAGPPLAINS GP HOLDINGS LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Listed
—PVR PARTNERS, L. P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—QEP Midstream Partners, LPEDGAR today: Andeavor Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—QR Energy, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—QUESTAR CORPEDGAR today: DOMINION QUESTAR CORPHand exclusionDominion Questar (Questar Corp) — regulated gas utility filed under SIC 4923.4923 Delisted
—RATTLER MIDSTREAM LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Regency Energy Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Delisted
—Rice Midstream Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Rose Rock Midstream, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Shell Midstream Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Sitio Royalties Corp.Minerals / royaltymineral / royalty company — no operating costs to compare (agreed 2026-10-17)1311 Listed
—Southcross Energy Partners, L.P.EDGAR today: Southcross Energy Partners LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—SOUTHWEST GAS CORPHand exclusionSouthwest Gas Corp — the utility subsidiary of SWX.4923 Delisted
SWXSouthwest Gas Holdings, Inc.Hand exclusionSouthwest Gas Holdings — regulated gas distribution utility filed under SIC 4923.4923 Listed
—Spectra Energy Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Summit Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
SUNSunoco LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v12911 Listed
—Tallgrass Energy Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Tallgrass Energy, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—Targa Resources Partners LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—TC PIPELINES LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
TPLTexas Pacific Land CorpHand exclusionRoyalty and land company: almost no costs or reinvestment, so its margins and returns are not comparable with operating producers (agreed 2026-10-17).6792 Listed●
—TransMontaigne Partners L.P.EDGAR today: TransMontaigne Partners LLCPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Listed
TXOTXO Partners, L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v11311 Listed
USACUSA Compression Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
—VALERO ENERGY PARTNERS LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Viper Energy, Inc.EDGAR today: VNOM Sub, Inc.Hand exclusion'VNOM Sub, Inc.' is Viper Energy's previous entity — same minerals business.1311 Listed
—Western Gas Partners LPEDGAR today: Western Midstream Operating, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
WESWestern Midstream Partners, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Listed
—Western Refining Logistics, LPPartnership / LLC unitspartnership or LLC units while listed — excluded in v14610 Delisted
—Williams Partners L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
—WILLIAMS PARTNERS L.P.Partnership / LLC unitspartnership or LLC units while listed — excluded in v14922 Delisted
04

Every hand decision

CONFIG/UNIVERSE.YAML · EACH WITH A REASON

SEC industry codes are often wrong for what a company does today, and EDGAR splits one company across several IDs when it reorganises. These are the corrections, read straight from the config.

Peer group corrections 10

Peer group corrections
TickerSIC saysAssignedWhy
XOM2911 · Petroleum refiningIntegratedIntegrated major. Files under SIC 2911 (refining), which cannot separate the majors from refiners.
CVX2911 · Petroleum refiningIntegratedIntegrated major. Files under SIC 2911 (refining).
COP2911 · Petroleum refiningProducers (E&P)Pure E&P since spinning off its refining arm as Phillips 66 in 2012; still files under SIC 2911.
DINO4610 · Pipelines (no natural gas)RefinersHF Sinclair is a refiner; files under SIC 4610 (pipelines).
PARR1311 · Crude petroleum & natural gasRefinersPar Pacific's earnings are refining; files under SIC 1311 (producers).
LNG4924 · Natural gas distributionMidstreamCheniere exports LNG under long-term fee-like contracts; files under SIC 4924 (gas utility), which is otherwise excluded.
AESI1311 · Crude petroleum & natural gasServicesAtlas Energy Solutions supplies frac sand and logistics to producers; files under SIC 1311.
TTI1311 · Crude petroleum & natural gasServicesTETRA Technologies sells completion fluids and water services to producers; files under SIC 1311.
HPK1381 · Drilling oil & gas wellsProducers (E&P)HighPeak Energy is a Permian oil producer; files under SIC 1381 (drilling).
HES2911 · Petroleum refiningProducers (E&P)Hess sold its refining and retail businesses in 2013-14 and was a pure E&P until acquired by Chevron in 2025; still filed under SIC 2911. Group is static, so 2009-13 (when it still had downstream) is slightly misfiled — accepted.

Exclusions by hand 10

Exclusions by hand
TickerCodeWhy
TPLminerals_royaltyRoyalty and land company: almost no costs or reinvestment, so its margins and returns are not comparable with operating producers (agreed 2026-10-17).
VNOMminerals_royaltyMineral and royalty company; same reasoning as TPL (agreed 2026-10-17).
VNOM-oldminerals_royalty'VNOM Sub, Inc.' is Viper Energy's previous entity — same minerals business.
SWXutilitySouthwest Gas Holdings — regulated gas distribution utility filed under SIC 4923.
SWX-subutilitySouthwest Gas Corp — the utility subsidiary of SWX.
CPKutilityChesapeake Utilities — regulated gas and electric utility filed under SIC 4923.
STRutilityDominion Questar (Questar Corp) — regulated gas utility filed under SIC 4923.
CTRIutilityCenturi — contractor for utility infrastructure, spun out of Southwest Gas; not an energy producer or midstream operator.
PHXminerals_royaltyPanhandle Oil & Gas / PHX Minerals — a mineral and royalty owner throughout (formerly Panhandle Royalty Co).
NE-oldco_registrantNoble's pre-2009 Cayman parent. After the 2009 redomicile it files as a subsidiary and copies its parent's float (2009, 2016), so it would double-count Noble Corp (1458891).

Predecessor links (same shareholders carried over) 8

Predecessor links (same shareholders carried over)
TickerCurrent IDEarlier IDWhy
XOM211543634088ExxonMobil Holdings Corp became the listed parent in 2026; Exxon Mobil Corp (34088) holds all earlier filings.
APA18416666769APA Corp became Apache's holding company in 2021; Apache Corp (6769) holds earlier filings and kept filing as a subsidiary until 2024.
DINO191565748039HF Sinclair became HollyFrontier's holding company in 2022 (Sinclair acquisition paid in shares; HollyFrontier holders kept ~73%).
DK16944261351541Delek US Holdings formed a new holding company in 2017 to acquire Alon USA; Delek holders kept the majority.
OVV17925801157806Encana redomiciled from Canada to the US as Ovintiv in January 2020 — same shareholders.
CLB19580861000229Core Laboratories N.V. redomiciled to Delaware in 2023 — same shareholders.
WFRD16039231453090Weatherford redomiciled from Switzerland to Ireland in 2014 — same shareholders. (Its 2019 bankruptcy then cancelled the old equity under the same CIK — see reviewed notes.)
HPR17255261172139HighPoint Resources was the 2018 holding company for Bill Barrett's combination with Fifth Creek; Bill Barrett holders kept the majority and it was the accounting predecessor.

Checked and left unlinked 27

Checked and left unlinked
TickerCompanyNote
OKEONEOK INC /NEW/Same CIK since 1998; the 2026 successor form does not break its history.
SMCSummit Midstream CorpConverted from Summit Midstream Partners LP in 2024; the LP years are excluded by the partnership rule.
AESIAtlas Energy Solutions Inc.Oct-2023 simplification of the March-2023 IPO entity; under 8 months of earlier history, not worth a link.
MCFCONTANGO OIL & GAS COContango — same CIK throughout.
DECDiversified Energy Co PLCDiversified's predecessor filed as a foreign issuer; its US 10-K history starts 2026.
EXXIEnergy XXI Gulf Coast, Inc.Emerged from Energy XXI Ltd's bankruptcy in 2016; old equity cancelled — a new company, not a continuation.
GSTGastar Exploration Inc.2014 holding-company reorganisation of Gastar Exploration Ltd, which is outside the universe (below the float screen). Small; pre-2014 history is not linked — known gap.
GRNTGranite Ridge Resources, Inc.Same CIK since its 2022 listing.
HNRHarvest Oil & Gas Corp.Successor of EV Energy Partners LP through bankruptcy; LP excluded and old units cancelled.
KOSKosmos Energy Ltd.2018 redomicile from Bermuda to Delaware under the same CIK.
LGCYLegacy Reserves Inc.Converted from Legacy Reserves LP in 2018; the LP years are excluded by the partnership rule.
PDCEPDC ENERGY, INC.Same CIK throughout.
PRPermian Resources CorpSame CIK since 2016.
SGYSTONE ENERGY CORPStone Energy combined with Talos in 2018 into a new company (Talos Energy Inc); Stone ends there. Its 2016-17 bankruptcy cancelled earlier equity under the same CIK.
TALOTALOS ENERGY INC.New company formed in 2018 from Talos Energy LLC (private) and Stone Energy; accounting predecessor was private.
VNRVanguard Natural Resources, Inc.Successor of Vanguard Natural Resources LLC (units) through its 2017 bankruptcy; LLC years excluded.
WLLWHITING PETROLEUM CORPSame CIK; the 2020 bankruptcy cancelled the old equity — the return series must show it.
CLMTCalumet, Inc. /DEConverted from Calumet Specialty Products Partners LP in 2024; the LP years are excluded.
BHIBAKER HUGHES INCBaker Hughes Inc combined with GE Oil & Gas in 2017 into a new company (BHI holders got 37.5%); treated as acquired. Its CIK then filed as a subsidiary with no float, so no double count.
BKRBaker Hughes CoNew company formed 2017 (GE O&G + Baker Hughes Inc); GE was the majority owner.
CJC&J Energy Services, Inc.C&J's 2015 combination with Nabors' completion business, 2016 bankruptcy (equity cancelled) and 2019 merger into NexTier — separate companies, not linked.
FTSIFTS International, Inc.Same CIK; the 2020 bankruptcy cancelled the old equity — the return series must show it.
NE-2009Noble CorpNoble Corp 2009-2021 under one CIK; the 2020 bankruptcy cancelled the old equity — the return series must show it.
NENoble Corp plcNew company formed 2022 from Noble and Maersk Drilling; not linked to the earlier Noble.
RDCROWAN COMPANIES PLC2012 redomicile to the UK under the same CIK.
SDRLSEADRILL LtdPredecessor Seadrill filed as a foreign issuer (20-F); US 10-K history starts 2025.
SSESeventy Seven Energy Inc.Same CIK; the 2016 bankruptcy cancelled the old equity — the return series must show it.
05

XLE cross-check

EVERY CURRENT MEMBER MUST BE ACCOUNTED FOR

21 current XLE holdings were matched to EDGAR: 20 are in the universe and 1 are excluded on purpose. A member missing from both lists would point to a filtering bug.

XLE members and their result
TickerCompanyResultPeer group or reason
XOMExxonMobil Holdings CorpIncludedIntegrated
CVXCHEVRON CORPIncludedIntegrated
SLBSCHLUMBERGER LIMITED/NVIncludedServices
COPCONOCOPHILLIPSIncludedProducers (E&P)
OXYOCCIDENTAL PETROLEUM CORP /DE/IncludedProducers (E&P)
EOGEOG RESOURCES INCIncludedProducers (E&P)
KMIKINDER MORGAN, INC.IncludedMidstream
WMBWILLIAMS COMPANIES, INC.IncludedMidstream
HALHALLIBURTON COIncludedServices
MPCMarathon Petroleum CorpIncludedRefiners
PSXPhillips 66IncludedRefiners
OKEONEOK INC /NEW/IncludedMidstream
VLOVALERO ENERGY CORP/TXIncludedRefiners
APAAPA CorpIncludedProducers (E&P)
BKRBaker Hughes CoIncludedServices
TRGPTarga Resources Corp.IncludedMidstream
DVNDEVON ENERGY CORP/DEIncludedProducers (E&P)
FANGDiamondback Energy, Inc.IncludedProducers (E&P)
EQTEQT CorpIncludedProducers (E&P)
EXEEXPAND ENERGY CorpIncludedProducers (E&P)
TPLTexas Pacific Land CorpExcludedRoyalty and land company: almost no costs or reinvestment, so its margins and returns are not comparable with operating producers (agreed 2026-10-17).