U.S. Energy Potentially Undervalued Companies

Calfrac Well Services

Market Cap: US$701.6m

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

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.

Antero Resources

Market Cap: US$11.3b

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.

Expand Energy

Market Cap: US$21.9b

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

Riley Exploration Permian

Market Cap: US$786.2m

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$1.5b

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$7.4b

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

VAALCO Energy

Market Cap: US$592.2m

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.

Northern Oil and Gas

Market Cap: US$2.6b

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

Weatherford International

Market Cap: US$6.6b

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

Bonterra Energy

Market Cap: US$204.9m

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

Halliburton

Market Cap: US$27.4b

Provides products and services to the energy industry worldwide.

North American Construction Group

Market Cap: US$542.6m

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

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.

California Resources

Market Cap: US$4.7b

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

Bristow Group

Market Cap: US$1.4b

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

Matador Resources

Market Cap: US$6.4b

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

Helmerich & Payne

Market Cap: US$4.3b

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

Infinity Natural Resources

Market Cap: US$872.1m

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

Parex Resources

Market Cap: US$2.5b

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

PetroChina

Market Cap: US$2.2t

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

HighPeak Energy

Market Cap: US$947.1m

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

Ring Energy

Market Cap: US$349.1m

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

SM Energy

Market Cap: US$7.7b

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

World Kinect

Market Cap: US$1.9b

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

Peyto Exploration & Development

Market Cap: US$5.0b

Engages in the exploration, development, and production of natural gas, and oil and natural gas liquids in Alberta’s deep basin.

TotalEnergies

Market Cap: US$168.4b

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.

Cenovus Energy

Market Cap: US$78.7b

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$3.1b

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

Baker Hughes

Market Cap: US$63.0b

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

Venture Global

Market Cap: US$33.6b

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$74.2b

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.

Vallourec

Market Cap: US$4.2b

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.

PBF Energy

Market Cap: US$8.9b

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

Drilling Tools International

Market Cap: US$86.8m

Designs, engineers, manufactures, and provides a rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations in North America, Europe, the Middle East, and Asia-Pacific.

ProFrac Holding

Market Cap: US$958.0m

Operates as a technology-focused energy services holding company in the United States.