tollbooth
EOG Resources is the most capital-efficient U.S. shale producer, known for finding and developing premium drilling inventory that generates industry-leading returns on capital — the operator's operator in the Permian, Eagle Ford, and Utica basins. This analysis is part of Energy Macro’s Tollbooth Royalties research.
tollbooth
Chevron is a global energy supermajor operating a high-quality upstream portfolio, the largest U.S. refining system, and a growing LNG export business — returning $75+ billion to shareholders through 2027 while maintaining 37 consecutive years of dividend increases. This analysis is part of Energy Macro’s Tollbooth Royalties research.
tollbooth
Exxon Mobil is the world's largest publicly traded energy company and the dominant integrated oil and gas tollbooth — producing 3.7 million barrels per day, operating the largest U.S. refining fleet, and expanding Permian Basin output while returning record capital to shareholders. This analysis is part of