Norwegian Energy Undervalued Small Caps

Ventura Offshore Holding

Market Cap: NOK 3.8b

A deep-water drilling contractor, provides offshore drilling services in deep and ultra-deep waters for the oil and gas industry in Brazil and internationally.

Aqualis

Market Cap: NOK 1.2b

An investment holding company, provides marine, offshore, and renewables consultancy services to the energy, shipping, and insurance industries worldwide.

Odfjell Technology

Market Cap: NOK 2.5b

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.

BW Energy

Market Cap: NOK 14.9b

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