Global Energy Potentially Undervalued Companies

CES Energy Solutions

Market Cap: €1.5b

Engages in the design, implementation, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada.

Thungela Resources

Market Cap: €12.0b

Engages in the mining and production of thermal coal in South Africa and Australia.

Vallourec

Market Cap: €3.7b

Through its subsidiaries, provides tubular solutions for the oil and gas, industry, and new energies markets in Europe, North America, South America, Asia, the Middle East, and internationally.

Valeura Energy

Market Cap: €770.5m

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

Exxaro Resources

Market Cap: €35.5b

Engages in coal, pigment manufacturing, and renewable energy businesses in South Africa, Europe, Asia, and internationally.

TotalEnergies

Market Cap: €115.6b

A multi-energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, rest of Europe, and internationally.

DOF Group

Market Cap: €21.9b

Owns and operates a fleet of offshore and subsea vessels.

Cenovus Energy

Market Cap: US$33.8b

Develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China.

DHT Holdings

Market Cap: US$1.8b

Through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Norway, and India.

TotalEnergies

Market Cap: US$115.6b

A multi-energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, rest of Europe, and internationally.

BWG

Market Cap: NOK 16.4b

An investment holding company, engages in ship owning and chartering activities worldwide.

EOG Resources

Market Cap: US$61.6b

Explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas in producing basins in the United States, the Republic of Trinidad and Tobago, and internationally.

DorianG

Market Cap: US$931.5m

Engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide.

Canadian Natural Resources

Market Cap: CA$90.3b

Engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa.

Exxaro Resources

Market Cap: R35.5b

Engages in coal, pigment manufacturing, and renewable energy businesses in South Africa, Europe, Asia, and internationally.

Hafnia

Market Cap: US$25.4b

Owns and operates oil product tankers in Bermuda.

Trican Well Service

Market Cap: CA$805.9m

An equipment services company, provides various products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells in Canada.

Odfjell Technology

Market Cap: NOK 1.9b

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

China Oilfield Services

Market Cap: HK$55.5b

Provides integrated oilfield services in China, Indonesia, Mexico, Norway, Rest of Middle East, and internationally.

Dana Gas PJSC

Market Cap: د.إ4.9b

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.

Shanxi Coking Coal Energy Group

Market Cap: CN¥36.2b

Shanxi Coking Coal Energy Group Co., Ltd.

S-Oil

Market Cap: ₩6.4t

S-Oil Corporation manufacture and sell oil refining, lube, and petrochemical products in South Korea.

Afentra

Market Cap: UK£101.3m

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

Sea1 Offshore

Market Cap: NOK 3.9b

Owns and operates offshore support vessels for the offshore energy service industry.

Ultrapar Participações

Market Cap: R$17.8b

Through its subsidiaries, operates in the energy and infrastructure business in Brazil.

TotalEnergies

Market Cap: €115.6b

A multi-energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, rest of Europe, and internationally.

Archer

Market Cap: NOK 2.2b

Provides various oilfield products and services to the oil and gas industry in Norway, Argentina, the United Kingdom, and internationally.

Canacol Energy

Market Cap: €92.1m

Operates as an oil and gas company in Colombia.

Headwater Exploration

Market Cap: €1.5b

Engages in the exploration, development, and production of petroleum and natural gas resources in Canada.

Schlumberger

Market Cap: US$46.4b

Engages in the provision of technology for the energy industry worldwide.

Hafnia

Market Cap: €25.4b

Owns and operates oil product tankers in Bermuda.

Headwater Exploration

Market Cap: US$1.5b

Engages in the exploration, development, and production of petroleum and natural gas resources in Canada.

PHX Energy Services

Market Cap: CA$364.5m

Provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally.

Galp Energia SGPS

Market Cap: €10.1b

Operates as an integrated energy operator in Portugal and internationally.

Frontline

Market Cap: US$4.0b

A shipping company, engages in the ownership and operation of oil and product tankers worldwide.

Halliburton

Market Cap: US$17.6b

Provides products and services to the energy industry worldwide.