U.S. Energy Potentially Undervalued Companies

Cenovus Energy

Market Cap: US$78.0b

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

Antero Resources

Market Cap: US$11.2b

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.

Calfrac Well Services

Market Cap: US$625.8m

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

Venture Global

Market Cap: US$32.5b

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.

Flowco Holdings

Market Cap: US$1.8b

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.

Parex Resources

Market Cap: US$2.3b

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

Chord Energy

Market Cap: US$7.8b

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

Precision Drilling

Market Cap: US$1.4b

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.

SLB

Market Cap: US$73.2b

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

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.

Bonterra Energy

Market Cap: US$207.8m

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

Ensign Energy Services

Market Cap: US$643.6m

Provides oilfield services to the oil and natural gas industries in Canada, the United States, and internationally.

BKV

Market Cap: US$2.7b

Produces and sells natural gas in the Barnett Shale in the Fort Worth Basin of Texas and in the Marcellus Shale in the Appalachian Basin of Northeast Pennsylvania.

Weatherford International

Market Cap: US$6.4b

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

Pason Systems

Market Cap: US$951.9m

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.

Peabody Energy

Market Cap: US$2.7b

Engages in the production of metallurgical and thermal coal.

North American Construction Group

Market Cap: US$517.4m

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

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.

Trican Well Service

Market Cap: US$1.2b

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.

EQT

Market Cap: US$33.5b

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.

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$6.1b

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

CES Energy Solutions

Market Cap: US$3.4b

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

Ring Energy

Market Cap: US$319.9m

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

PetroTal

Market Cap: US$446.4m

Engages in the acquisition, exploration, appraisal, development, and production of oil and natural gas properties in Peru.

Delek US Holdings

Market Cap: US$4.0b

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

Infinity Natural Resources

Market Cap: US$824.0m

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

PetroChina

Market Cap: US$2.2t

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

TotalEnergies

Market Cap: US$165.0b

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.

World Kinect

Market Cap: US$2.0b

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

Helmerich & Payne

Market Cap: US$3.4b

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.