Global Energy Undervalued Small Caps

Calfrac Well Services

Market Cap: CA$530.2m

Provides specialized oilfield services in Canada, the United States, and Argentina.

BW Energy

Market Cap: NOK 13.6b

Engages in the exploration and production of oil and gas properties.

PT. Indika Energy

Market Cap: Rp19.3t

Operates as an integrated energy company in Indonesia.

Mattr

Market Cap: CA$586.7m

Operates as a materials technology company that serves the infrastructure markets, including electrification, transportation, mining, energy, communication and water management markets in Canada, the United States, Europe, the Middle East, Africa, and the Asia Pacific.

Source Energy Services

Market Cap: CA$221.0m

Engages in the production and distribution of frac sand used primarily in oil and gas exploration and production in Canada and the United States.

Dana Gas PJSC

Market Cap: د.إ6.1b

Engages in the exploration, production, ownership, transportation, processing, distribution, marketing, and sale of natural gas and petroleum related products in the United Arab Emirates, Iraq, and Egypt.

Parex Resources

Market Cap: CA$2.7b

Engages in the exploration, development, production, and marketing of oil and natural gas in Colombia.

Afentra

Market Cap: UK£156.3m

Operates as an upstream oil and gas company primarily in Africa.

OMS Energy Technologies

Market Cap: US$196.1m

Through its subsidiaries, manufactures and sells specialty connectors and pipes, surface wellhead and Christmas trees, premium threading services, and other ancillary services in Saudi Arabia, Singapore, Malaysia, Thailand, Indonesia and internationally.

Ranger Energy Services

Market Cap: US$390.9m

Provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States.

Solstad Offshore

Market Cap: NOK 5.3b

Owns and operates offshore service vessels.

Imperial Petroleum

Market Cap: US$217.5m

Provides seaborne transportation services worldwide.

HMH Holding

Market Cap: US$909.8m

Provides offshore and onshore oil and gas drilling equipment and systems and services in the United States and Norway.

Alvopetro Energy

Market Cap: CA$321.4m

Engages in the acquisition, exploration, development, and production of hydrocarbons in Brazil and Canada.

SBO

Market Cap: €527.9m

Manufactures and sells steel products worldwide.

Viridien Société anonyme

Market Cap: €813.3m

Provides earth science, data science, sensing, and monitoring data, products, services, and solutions in North America, Latin America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific.

PetroVietnam Transportation

Market Cap: ₫10.5t

Engages in maritime transportation services to the oil and gas industry in Vietnam and internationally.

Logan Energy

Market Cap: CA$677.7m

Engages in the exploration, development, and production of crude oil and natural gas properties.

Odfjell Technology

Market Cap: NOK 2.7b

Operates as a supplier of offshore operations, well services technology, and engineering solutions in Norway, the United Kingdom, rest of Europe, Kuwait, Malaysia, rest of Asia, and internationally.

Precision Drilling

Market Cap: CA$1.6b

A drilling company, provides onshore drilling services to exploration and production companies in the oil and natural gas and geothermal industries in the United States, Canada, and internationally.