U.S. Energy Potentially Undervalued Companies

Western Energy Services

Market Cap: US$70.7m

Operates as an oilfield service company in Canada and the United States.

Frontline

Market Cap: US$4.6b

A shipping company, engages in the ownership and operation of oil and product tankers worldwide.

Awilco LNG

Market Cap: US$331.4m

Owns and operates liquefied natural gas (LNG) vessels in Norway.

SouthGobi Resources

Market Cap: US$133.5m

Operates as an integrated coal mining, development, and exploration company in Mongolia and China.

AKR Corporindo

Market Cap: US$24.7t

A logistics and supply chain company, engages in distribution and trading of petroleum and basic chemical products in Indonesia.

United Energy Group

Market Cap: US$14.7b

An investment holding company, engages in the investment and operation of upstream oil, natural gas, clean energy, and energy trading businesses in Pakistan, South Asia, the Middle East, and North Africa.

Vista Energy. de

Market Cap: US$75.5b

Through its subsidiaries, engages in the exploration and production of oil and gas in Latin America.

Beach Energy

Market Cap: US$2.9b

Operates as an oil and gas exploration and production company.

Lake Area Corn Processors

Market Cap: US$162.9m

Through its subsidiary, Dakota Ethanol, L.L.C., owns and manages an ethanol plant in South Dakota.

Flint

Market Cap: US$2.8m

Provides upstream, midstream, and downstream production services in Canada and the United States.

Lycos Energy

Market Cap: US$67.6m

A resource company, engages in the development and production of petroleum and natural gas in Western Canada.

Natural Gas Services Group

Market Cap: US$326.5m

Provides natural gas compression equipment, technology, and services to the energy industry in the United States.

PermRock Royalty Trust

Market Cap: US$49.6m

Operates as a statutory trust in the United States.

Anton Oilfield Services Group

Market Cap: US$3.8b

An investment holding company, operates as an integrated oilfield technology services company in the People’s Republic of China, Iraq, and internationally.

Saipem

Market Cap: US$4.7b

Provides energy and infrastructure solutions worldwide.

Tenaz Energy

Market Cap: US$644.5m

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

Ovintiv

Market Cap: US$10.7b

Explores, develops, produces, and markets natural gas, oil, and natural gas liquids in North America.

VAALCO Energy

Market Cap: US$403.5m

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, and Canada.

Medco Energi Internasional

Market Cap: US$29.5t

Explores for and produces oil and gas in Indonesia, Asia, Africa, the Middle East, the United States of America, and Europe.

Archer

Market Cap: US$2.2b

Provides various oilfield products and services to the oil and gas industry in Norway, Argentina, the United Kingdom, and internationally.

Arrow Exploration

Market Cap: US$78.6m

Operates a junior oil and gas company that engages in the acquisition, exploration, development, and production of oil and gas properties in Colombia and Western Canada.

Peninsula Energy

Market Cap: US$71.7m

Operates as a uranium exploration company in the United States.

Ranger Energy Services

Market Cap: US$305.2m

Provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States.

Serica Energy

Market Cap: US$701.2m

Serica Energy plc, together with its subsidiaries, identifies, acquires, and exploits oil and gas reserves oil in the United Kingdom.

China Coal Energy

Market Cap: US$152.4b

China Coal Energy Company Limited mines, produces, processes, trades in, and sells coal in the People’s Republic of China and internationally.

Aker Solutions

Market Cap: US$14.7b

Provides solutions, products, systems, and services to the oil and gas industry in Norway, the United States, Brazil, the United Kingdom, Malaysia, Angola, Brunei, Canada, India, and internationally.

Yankuang Energy Group

Market Cap: US$119.7b

Engages in the mining, preparation, and sale of coal in China, Australia, and internationally.

ONEOK

Market Cap: US$47.3b

Operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States.

Indo Tambangraya Megah

Market Cap: US$25.3t

Engages in coal mining activities in East, South, and Central Kalimantan.

ConocoPhillips

Market Cap: US$122.3b

Explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids.

PTT

Market Cap: US$899.5b

Engages in petroleum business in Thailand, Asia, Europe, the United States, and internationally.

PTT

Market Cap: US$899.5b

Engages in petroleum business in Thailand, Asia, Europe, the United States, and internationally.

Koninklijke Vopak

Market Cap: US$4.9b

An independent tank storage company, stores and handles liquid chemicals, gases, and oil products to the energy and manufacturing markets worldwide.

Tullow Oil

Market Cap: US$159.7m

An energy company, develops, produces, and sells oil and gas resources in Ghana, Gabon, Côte d’Ivoire, Kenya, and Argentina.

Anton Oilfield Services Group

Market Cap: US$3.8b

An investment holding company, operates as an integrated oilfield technology services company in the People’s Republic of China, Iraq, and internationally.

Union Jack Oil

Market Cap: US$7.6m

Operates as an onshore oil and gas company in the United Kingdom and the United States.