U.S. Energy Potentially Undervalued Companies

Flowco Holdings

Market Cap: US$2.0b

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.

Antero Resources

Market Cap: US$11.7b

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$705.6m

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

Expand Energy

Market Cap: US$22.2b

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

Infinity Natural Resources

Market Cap: US$943.7m

Engages in the acquisition, exploration, and development of properties to produce crude oil, natural gas, and natural gas liquids in the United States.

Riley Exploration Permian

Market Cap: US$845.6m

An independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico.

Precision Drilling

Market Cap: US$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.

Tidewater Midstream and Infrastructure

Market Cap: US$466.1m

Tidewater Midstream and Infrastructure Ltd.

InPlay Oil

Market Cap: US$488.0m

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

Bonterra Energy

Market Cap: US$206.6m

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

Halliburton

Market Cap: US$29.4b

Provides products and services to the energy industry worldwide.

Weatherford International

Market Cap: US$6.5b

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

Gulfport Energy

Market Cap: US$3.1b

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

PHX Energy Services

Market Cap: US$575.2m

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.

North American Construction Group

Market Cap: US$519.2m

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

EQT

Market Cap: US$33.6b

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

California Resources

Market Cap: US$4.7b

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

TotalEnergies

Market Cap: US$172.1b

An integrated energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, the United States, Europe, Africa, and internationally.

Helmerich & Payne

Market Cap: US$4.4b

Provides drilling solutions and technologies for oil and gas exploration and production companies.

Range Resources

Market Cap: US$9.6b

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

Vallourec

Market Cap: US$4.1b

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

Parex Resources

Market Cap: US$2.7b

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

HighPeak Energy

Market Cap: US$1.1b

Operates as an independent crude oil and natural gas exploration and production company.

World Kinect

Market Cap: US$1.8b

Operates as an energy management company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Ring Energy

Market Cap: US$385.6m

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

Cenovus Energy

Market Cap: US$83.7b

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

SM Energy

Market Cap: US$8.8b

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

DHT Holdings

Market Cap: US$3.2b

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

Baker Hughes

Market Cap: US$61.9b

Provides a portfolio of technologies and services to energy and industrial value chain.

Venture Global

Market Cap: US$35.5b

A liquefied natural gas (LNG) company, engages in the ownership, development, construction, and operation of LNG production facilities and associated infrastructure in the United States, Germany, France, Netherlands, the United Kingdom, and internationally.The company is involved in LNG production, natural gas transportation, and regasification operations, as well as LNG sales and shipping business through LNG tankers.

EOG Resources

Market Cap: US$80.3b

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.

PetroChina

Market Cap: US$2.3t

Engages in a range of petroleum related products, services, and activities in Mainland China and internationally.

MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság

Market Cap: US$3.2t

Operates as an integrated oil and gas company in Hungary and internationally.

PBF Energy

Market Cap: US$8.8b

Through its subsidiaries, engages in the refining and supplying of petroleum products.

Granite Ridge Resources

Market Cap: US$674.0m

Operates as a non-operated oil and natural gas exploration and production company.