U.S. Energy Potentially Undervalued Companies

Flowco Holdings

Market Cap: US$2.1b

Through its subsidiaries, provides production optimization, artificial lift, and emissions management and monetization solutions for the oil and natural gas industry in the United States.

Range Resources

Market Cap: US$9.1b

Operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States.

Antero Resources

Market Cap: US$10.8b

An independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States.

Calfrac Well Services

Market Cap: US$670.8m

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

Parex Resources

Market Cap: US$2.5b

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

Expand Energy

Market Cap: US$21.2b

Operates as an independent natural gas production company in the United States.

EOG Resources

Market Cap: US$72.8b

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.

Scorpio Tankers

Market Cap: US$3.6b

Engages in the seaborne transportation of crude oil and refined petroleum products worldwide.

Precision Drilling

Market Cap: US$1.7b

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.

Chord Energy

Market Cap: US$7.6b

Operates as an independent exploration and production company in the United States.

Vermilion Energy

Market Cap: US$2.4b

Engages in petroleum and natural gas, focuses on the acquisition, exploration, development, and optimization of producing properties in North America, Europe, and Australia.

Bonterra Energy

Market Cap: US$236.0m

A conventional oil and gas company, engages in the development and production of oil and natural gas in Canada.

InPlay Oil

Market Cap: US$464.6m

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

Weatherford International

Market Cap: US$7.3b

An energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide.

VAALCO Energy

Market Cap: US$584.3m

An independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, Cote d'Ivoire, Equatorial Guinea, Nigeria, and Canada.

Tenaz Energy

Market Cap: US$1.7b

An energy company, engages in the acquisition and development of oil and gas assets in Canada and the Netherlands.

Northern Oil and Gas

Market Cap: US$2.2b

An independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States.

APA

Market Cap: US$13.1b

An independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids.

Gulfport Energy

Market Cap: US$3.0b

Engages in the acquisition, exploration, and production of natural gas, crude oil, and natural gas liquids in the United States.

North American Construction Group

Market Cap: US$512.8m

Provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States.

PHX Energy Services

Market Cap: US$515.3m

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, the Middle East regions, and internationally.

Crescent Energy

Market Cap: US$3.8b

Engages in the exploration and production of crude oil, natural gas, and natural gas liquids in the United States.

Talos Energy

Market Cap: US$2.5b

Through its subsidiaries, engages in the exploration and production of oil and gas in the United States and Mexico.

California Resources

Market Cap: US$5.2b

Operates as an independent energy and carbon management company in the United States.

Bristow Group

Market Cap: US$1.3b

Provides vertical flight solutions to offshore energy companies and government agencies in the United Kingdom, Norway, the United States, Nigeria, and internationally.

Par Pacific Holdings

Market Cap: US$2.8b

An energy company, provides renewable and conventional fuels in the United States.

Shell

Market Cap: US$171.7b

Operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas.

Matador Resources

Market Cap: US$6.7b

An independent energy company, engages in the acquisition, exploration, development, and production of oil and natural gas resources in the United States.

EQT

Market Cap: US$32.5b

Engages in the exploration, production, gathering, and transmission of hydrocarbons and natural gas.

Diversified Energy

Market Cap: US$1.0b

An independent energy company, engages in the production, transportation and marketing of natural gas, oil, and liquids primarily in the Appalachian and Central regions of the United States.

CES Energy Solutions

Market Cap: US$3.5b

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

Harbour Energy

Market Cap: US$4.6b

Engages in the acquisition, exploration, development, and production of oil and gas reserves in Norway, the United Kingdom, Germany, Mexico, Argentina, North Africa, and Southeast Asia.

Hess Midstream

Market Cap: US$7.9b

Acquires, owns, operates, and develops midstream assets and provide fee-based services to sponsor, its subsidiaries, and third-party customers in the United States.

Evolution Petroleum

Market Cap: US$145.7m

An energy company, engages in the development, production, ownership, exploitation, and investment of onshore oil and gas properties in the United States.

Ring Energy

Market Cap: US$327.5m

An independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties.

Delek US Holdings

Market Cap: US$2.9b

Engages in the integrated downstream energy business in the United States.