Vince Dhimos answered a question at Quora.
DOES THE US DO OIL EXPLORATION?
Vince Dhimos, Editor-in-Chief at New Silk Strategies (2016-present)
Yes. Here is a list of oil exploration and production companies, including many US ones.
List of oil exploration and production companies - Wikipedia
The US companies probably do much more oil exploration than companies in other countries because in the US, most oil (and gas) comes from shale, and this means fracking, which means the wells don’t last very long and new ones must be found and drilled constantly. This in turn means the companies are not able to compete well with oil from non-shale plays of the kind found in the Middle East, Russia, Venezuela and elsewhere. In turn this means US oil is not making much profit and the investors in this oil are dropping out like flies.
This means that the future of US energy is very uncertain, with many companies going bankrupt all the time, as reported below:
As Oil Prices Drop And Money Dries Up, Is The U.S. Shale Boom Going Bust?
U.S. Shale Patch Sees Huge Jump In Bankruptcies | OilPrice.com
Which shows that being the no. 1 oil exporter, while it may be prestigious, does little for the bottom line – ie, the economy.
A sensible strategy would have been to wait several years until energy becomes scarce around the world, or in other words, until the price goes up. Then shale oil would be able to compete with the rest of the world. As it is, US oil is being depleted rapidly for little to no profit and when sometime in the future, the US needs its own oil for energy security, the supply will have dwindled to a trickle. At that point, the US will be in a precarious position, dependent on Middle Eastern countries that have been screwed over by it for years, and on countries like Venezuela, which it has starved with sanctions, or on Iran, which it threatened to destroy.
How’s that for a strategy?