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.

Cenovus Energy

Market Cap: US$72.6b

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$6.9b

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

Parex Resources

Market Cap: US$2.3b

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

Expand Energy

Market Cap: US$21.5b

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

Calfrac Well Services

Market Cap: US$673.3m

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

SLB

Market Cap: US$76.5b

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

Precision Drilling

Market Cap: US$1.3b

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.

Riley Exploration Permian

Market Cap: US$758.1m

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.

Chord Energy

Market Cap: US$7.3b

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

Bonterra Energy

Market Cap: US$203.1m

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

Weatherford International

Market Cap: US$6.2b

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

Northern Oil and Gas

Market Cap: US$2.3b

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

Pason Systems

Market Cap: US$962.0m

Provides instrumentation and data management systems for oil and gas drilling in Canada, the United States, and internationally.

Halliburton

Market Cap: US$26.6b

Provides products and services to the energy industry worldwide.

Suncor Energy

Market Cap: US$98.1b

Operates as an integrated energy company in Canada, the United States, and internationally.

PHX Energy Services

Market Cap: US$535.9m

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.

Talos Energy

Market Cap: US$2.4b

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

Gulfport Energy

Market Cap: US$2.9b

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

Matador Resources

Market Cap: US$6.1b

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

W&T Offshore

Market Cap: US$517.7m

An independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of America.

EQT

Market Cap: US$32.3b

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

Par Pacific Holdings

Market Cap: US$3.3b

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

California Resources

Market Cap: US$4.6b

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

Harbour Energy

Market Cap: US$4.2b

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.

Venture Global

Market Cap: US$32.9b

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.

Infinity Natural Resources

Market Cap: US$809.4m

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

TotalEnergies

Market Cap: US$164.7b

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, Brazil, India, and internationally.

Ring Energy

Market Cap: US$338.7m

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

Baker Hughes

Market Cap: US$61.1b

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

EOG Resources

Market Cap: US$70.7b

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.

Helmerich & Payne

Market Cap: US$3.7b

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

DHT Holdings

Market Cap: US$3.0b

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

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.

PetroChina

Market Cap: US$2.2t

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