Global Energy Undervalued based on future growth

Infinity Natural Resources

Market Cap: US$838.6m

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$769.8m

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.

Saturn Oil & Gas

Market Cap: CA$1.1b

Engages in the acquisition, exploration, and development of petroleum and natural gas resource deposits in Canada.

Pason Systems

Market Cap: CA$1.0b

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

Viridien Société anonyme

Market Cap: €599.6m

Provides earth science, data science, sensing, and monitoring data, products, services, and solutions in North America, Latin America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific.

GeoPark

Market Cap: US$646.8m

Operates as an oil and natural gas exploration and production company in Chile, Colombia, Brazil, Argentina, Ecuador, and other Latin American countries.

Longyan Zhuoyue New Energy

Market Cap: CN¥4.1b

A renewable company, engages in the research, development, production and sales of biodiesel and bio-based materials in China.

Zhejiang Kingland Pipeline and TechnologiesLtd

Market Cap: CN¥4.1b

Engages in the research, development, manufacture, and sale of welded steel pipe products for the petroleum industry in China.

Harum Energy

Market Cap: Rp10.5t

Through its subsidiaries, engages in the coal and nickel mining, logistics, and nickel processing and refining activities in Indonesia.

Logan Energy

Market Cap: CA$705.4m

Engages in the exploration, development, and production of crude oil and natural gas properties.

Calfrac Well Services

Market Cap: CA$638.7m

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

OPAL Fuels

Market Cap: US$386.2m

Engages in the production and distribution of renewable natural gas (RNG) for use as a vehicle fuel for heavy and medium-duty trucking fleets throughout the United States.

North American Construction Group

Market Cap: CA$531.8m

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

Hibiscus Petroleum Berhad

Market Cap: RM 1.5b

Engages in the exploration, development, and sale of oil and gas in Peninsular Malaysia, Sabah, Malaysia, the United Kingdom, Brunei, Australia, and Vietnam.

E1

Market Cap: ₩519.8b

Imports, stores, trades, and sells liquefied petroleum gas (LPG) in South Korea.

Capricorn Energy

Market Cap: UK£258.9m

An independent energy company, engages in the exploration, development, production, and sale of oil and gas the United Kingdom and internationally.

Deep Industries

Market Cap: ₹33.1b

Provides oil and gas field and related support services in India.

Ventura Offshore Holding

Market Cap: NOK 3.2b

A deep-water drilling contractor, provides offshore drilling services in deep and ultra-deep waters for the oil and gas industry in Brazil and internationally.

PetroTal

Market Cap: CA$460.2m

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

PetroVietnam Transportation

Market Cap: ₫8.4t

Engages in maritime transportation services to the oil and gas industry in Vietnam and internationally.

Gulf Marine Services

Market Cap: UK£211.5m

Operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Europe.

Elnusa

Market Cap: Rp4.8t

Provides oil and gas services in Indonesia.

Odfjell Technology

Market Cap: NOK 2.4b

Operates as a supplier of offshore operations, well services technology, and engineering solutions in Norway, the United Kingdom, rest of Europe, Kuwait, Malaysia, rest of Asia, and internationally.

Journey Energy

Market Cap: CA$306.4m

Engages in the exploration, development, and production of crude oil and natural gas in Canada.

Imperial Petroleum

Market Cap: US$215.2m

Provides seaborne transportation services worldwide.

BBGI

Market Cap: ฿7.1b

Manufactures and distributes biofuel and related products in Thailand.

NorAm Drilling

Market Cap: NOK 2.0b

Together with its subsidiary, owns and operates AC driven onshore rigs for the drilling of horizontal wells in the United States.

Kolibri Global Energy

Market Cap: CA$268.7m

An energy company, engages in finding and exploiting energy projects in oil and gas in the United States.

Amplify Energy

Market Cap: US$162.7m

Engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States.

Source Energy Services

Market Cap: CA$164.4m

Engages in the production and distribution of frac sand used primarily in oil and gas exploration and production in Canada and the United States.

Deleum Berhad

Market Cap: RM 445.7m

Engages in the oil and gas businesses in Malaysia, Indonesia, and internationally.

Highwood Asset Management

Market Cap: CA$93.5m

Together with its subsidiary, operates as an oil and gas exploration and production company in Canada.

Susco

Market Cap: ฿2.1b

Engages in the wholesale and retail of fuel products in Thailand, Cambodia, Myanmar, Laos, and China.

Uzma Berhad

Market Cap: RM 241.5m

An investment holding company, operates as an integrated energy and technology company in Malaysia and internationally.

Central Petroleum

Market Cap: AU$51.8m

Engages in the development, production, processing, and marketing of hydrocarbons, including natural gas, and crude oil and condensate in Australia.

Touchstone Exploration

Market Cap: CA$50.9m

Engages in the exploration, development, acquisition, production, and sale of petroleum and natural gas properties in the Republic of Trinidad and Tobago.