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How each company in a group stands on five things from the filings, then what each says about a topic in its latest 10-K.
Energy: where each company stands
All 21 companies in Energy
Inflation: paragraphs that mention it
What the companies wrote
APA APA Corp
15 paragraphs• the overall economic environment, including rates of growth, trade tensions, and increasing inflationary pressure.
Item 1A, Risk Factors, 10-K 2026-02-26 ↗Additionally, inflation, supply constraints, and limited contractor and vessel availability have raised decommissioning costs in recent periods. If decommissioning spending materially exceeds current estimates or the Company’s joint venture partners, current owners of the Company’s previous assets, or …
Item 1A, Risk Factors, 10-K 2026-02-26 ↗EQT EQT Corp
11 paragraphs• discount rates and inflation assumptions used in estimating the present value of expected future cash flows; and
Item 7, MD&A, 10-K 2026-02-18 ↗• the lack of available skilled labor, equipment and materials (or escalating costs in respect thereof, including as a result of inflation and/or tariffs, particularly on steel and aluminum);
Item 1A, Risk Factors, 10-K 2026-02-18 ↗MPC Marathon Petroleum Corp
11 paragraphs• unplanned increases in the cost of construction materials or labor, whether due to inflation or other factors;
Item 1A, Risk Factors, 10-K 2026-02-26 ↗Increases in inflation may have an adverse effect on us. Such increases in inflation could impact the commodity markets generally, the overall demand for our products and services, our costs for labor, material and services and the margins we are …
Item 1A, Risk Factors, 10-K 2026-02-26 ↗XOM EXXON MOBIL CORP
11 paragraphsExpenses - Higher advantaged projects spend and inflation effects decreased earnings by $0.5 billion.
Item 7, MD&A, 10-K 2026-02-18 ↗… ExxonMobil’s business results are also exposed to potential negative impacts due to changes in interest rates, inflation, currency exchange rates, changes in usage of the U.S. dollar in global trade, and other local or regional market conditions. In …
Item 1A, Risk Factors, 10-K 2026-02-18 ↗BKR Baker Hughes Co
10 paragraphsSelling, general and administrative costs decreased $153 million, or 6%, to $2,458 million driven primarily by a continued focus on cost optimization, partially offset by inflationary pressure.
Item 7, MD&A, 10-K 2026-02-05 ↗(Inflation)/Deflation: (Inflation)/deflation is defined as the increase or decrease in direct and indirect costs of the same type for an equal amount of volume. It is calculated as the year-over-year change in cost (i.e. price paid) of direct material, compensation and benefits, and overhead costs.
Item 7, MD&A, 10-K 2026-02-05 ↗OXY OCCIDENTAL PETROLEUM CORP /DE/
10 paragraphsThe Company’s costs are influenced by inflationary trends, market conditions, the availability and cost of oilfield services, electricity, and CO₂, and other operational expenditures. In April 2025, a U.S. tariff policy was announced that imposed a 10% base …
Item 7, MD&A, 10-K 2026-02-18 ↗… adapt to market conditions including commodity price fluctuations, supply chain constraints, tariffs, higher interest rates, global logistics and persistent inflation, all of which disrupt global supply and demand balances. The Company’s objective is to deliver our free cash flow …
Item 7, MD&A, 10-K 2026-02-18 ↗Show all 21 companies' quotes
TRGP Targa Resources Corp.
10 paragraphs… To the extent elevated inflation levels exist, we may experience further cost increases for our operations, including services, labor and equipment cost increases, and any subsequent increases in benchmark interest rates could have the effect of raising the cost of …
Item 1A, Risk Factors, 10-K 2026-02-19 ↗Higher oil and natural gas prices may cause the costs of materials and services to continue to rise. We cannot predict any future trends in the rate of inflation and U.S. international trade policies, or any resultant changes in monetary policy, and a significant increase in inflation, to the extent we are unable to recover higher costs through higher prices and revenues, and/or higher interest rates would negatively impact our business, financial condition and results of operations.
Item 1A, Risk Factors, 10-K 2026-02-19 ↗FANG Diamondback Energy, Inc.
9 paragraphsOur business and results of operations may be adversely affected by uncertainty and changes in U.S. trade policies, including tariffs, trade agreements or other trade restrictions imposed by the U.S. or other governments. The recent uncertainty over such policies has caused substantial volatility in commodity, capital and financial markets, increased concerns over domestic and global inflation and adversely impacted consumer confidence in the U.S. and worldwide.
Item 1A, Risk Factors, 10-K 2026-02-25 ↗… and global financial and economic conditions and commodity markets, declining consumer confidence, significant inflation and diminished expectations for the economy, and ultimately reduced demand for oil and natural gas. Such conditions could have a material adverse impact on our business …
Item 1A, Risk Factors, 10-K 2026-02-25 ↗KMI KINDER MORGAN, INC.
8 paragraphs… economy, uncertainty and volatility in the financial markets, or inflation and rising interest rates, could materially adversely affect our operating results. For example, the global economic downturn caused by the coronavirus pandemic in 2020 affected numerous industries, including the crude …
Item 1A, Risk Factors, 10-K 2026-02-13 ↗Operations and maintenance increased $85 million in 2025 compared to 2024. Increased costs were primarily driven by greater activity levels, including from expansions, and inflation, including labor costs.
Item 7, MD&A, 10-K 2026-02-13 ↗COP CONOCOPHILLIPS
7 paragraphs• Failure to progress or complete announced and future development plans related to constructing, modifying or operating E&P and LNG facilities, or unexpected changes in costs, inflationary pressures or technical equipment related to such plans.
Item 7, MD&A, 10-K 2026-02-17 ↗Significant inputs incorporated within the valuation include future commodity price assumptions and production profiles of reserve estimates, future operating and development costs, inflation rates, and discount rates using a market-based weighted average cost of capital determined at the time of the acquisition. When estimating the fair value of unproved properties, additional risk-weighting adjustments are applied to probable and possible reserves.
Item 7, MD&A, 10-K 2026-02-17 ↗EXE EXPAND ENERGY Corp
7 paragraphs• general economic conditions within the U.S. and internationally, including inflationary pressures and changes in interest rates;
Item 1A, Risk Factors, 10-K 2026-02-18 ↗… The global market is also continuing to experience inflationary pressure, including rising fuel costs, a tightening steel market and labor and supply chain shortages, which could result in increases to our operating and capital costs that are not fixed. Additionally …
Item 1A, Risk Factors, 10-K 2026-02-18 ↗WMB WILLIAMS COMPANIES, INC.
7 paragraphs• General economic, financial markets, or industry downturns, including increased inflation, interest rates, or tariffs;
Item 7, MD&A, 10-K 2026-02-24 ↗• Unexpected significant increases in capital expenditures or delays in capital project execution, including increases from inflation or delays caused by supply chain disruptions;
Item 7, MD&A, 10-K 2026-02-24 ↗EOG EOG RESOURCES INC
6 paragraphsOur continued initiatives to increase operating efficiencies may not be successful in offsetting any future inflationary pressures on our operating costs and capital expenditures.
Item 1A, Risk Factors, 10-K 2026-02-24 ↗• the success of EOG's cost-mitigation initiatives and actions in offsetting the impact of any inflationary or other pressures on EOG's operating costs and capital expenditures;
Item 7, MD&A, 10-K 2026-02-24 ↗HAL HALLIBURTON CO
6 paragraphssupply chain lead times for the supply of select raw materials. Also, while we have been impacted by inflationary cost
Item 7, MD&A, 10-K 2026-02-06 ↗restrictions and highly inflationary currencies, as well as other geopolitical factors. We believe the geographic diversification of
10-K, 10-K 2026-02-06 ↗OKE ONEOK INC /NEW/
6 paragraphs• inflationary pressure, along with pressure that may arise from the imposition by the federal government of tariffs on non-U.S. produced construction materials, could increase our costs for construction materials, equipment or labor.
Item 1A, Risk Factors, 10-K 2026-02-24 ↗… Sustained levels of high inflation could cause the Federal Reserve System and other central banks to increase interest rates, which could cause the cost of capital to increase and depress economic growth, either of which, or the combination of both …
Item 1A, Risk Factors, 10-K 2026-02-24 ↗VLO VALERO ENERGY CORP/TX
6 paragraphs• the effect of general economic and other conditions, including inflation and economic activity levels, on refining, renewable diesel, SAF, and ethanol industry fundamentals, as well as our capital allocation;
Item 7, MD&A, 10-K 2026-02-25 ↗… Supply chain or other market or economic disruptions (including inflation) may also delay projects or increase the costs associated therewith. As a result, such projects may not be completed on schedule or budget, or at all, and may not achieve …
Item 1A, Risk Factors, 10-K 2026-02-25 ↗CVX CHEVRON CORP
5 paragraphsSupply Chain and Inflation Impacts The company is actively managing its contracting, procurement and supply chain activities to effectively manage costs and facilitate supply chain resiliency and continuity in support of the company’s operational goals. Third party costs for …
Item 7, MD&A, 10-K 2026-02-24 ↗… Chevron has applied inflation mitigation strategies to temper cost increases, including fixed price and index-based contracts. Lead times for key capital equipment remain long due to strong demand levels. Chevron has addressed equipment cost increases and long lead times …
Item 7, MD&A, 10-K 2026-02-24 ↗DVN DEVON ENERGY CORP/DE
5 paragraphs• the overall economic environment, including inflationary pressures, fluctuations in interest rates, economic slowdowns or recessions;
Item 1A, Risk Factors, 10-K 2026-02-18 ↗Additionally, the economic uncertainty in global trade arising from geopolitical events and shifting trade policies, such as the imposition of tariffs by the U.S., may contribute to higher inflation rates and disrupt supply chains, negatively impacting our cash flow …
Item 7, MD&A, 10-K 2026-02-18 ↗PSX Phillips 66
4 paragraphs• United States’ Inflation Reduction Act, which contains tax inducements and other provisions that incentivize investment, development, and deployment of alternative energy sources and technologies, which is intended to accelerate the energy transition.
Item 7, MD&A, 10-K 2026-02-20 ↗… Other political and economic risks include global health crises; financial market turmoil; economic volatility and global economic slowdown; currency exchange rate fluctuations; short-term and long-term inflationary pressures; rising or prolonged periods of high interest rates; import or export …
Item 1A, Risk Factors, 10-K 2026-02-20 ↗TPL Texas Pacific Land Corp
2 paragraphs… Development of a produced water treatment facility requires substantial capital and may result in total project costs exceeding initial estimates due to inflation, supply chain constraints, labor and equipment availability, design changes, regulatory requirements or technical challenges. Delays in permitting …
Item 1A, Risk Factors, 10-K 2026-02-18 ↗The expected return on Pension Plan assets assumption of 7.0 % was selected by TPL based on historical real rates of return for the current asset mix and an assumption with respect to future inflation. The rate was determined based …
10-K, 10-K 2026-02-18 ↗SLB SLB LIMITED/NV
1 paragraph… interim emissions reduction goals; general economic, geopolitical and business conditions in key regions of the world; foreign currency risk; inflation; changes in monetary policy by governments; tariffs; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and …
10-K, 10-K 2026-01-23 ↗