Global Energy Undervalued based on future growth

BW Offshore

Market Cap: NOK 8.2b

Engages in the engineering of offshore production solutions in the Americas, Europe, Africa, Asia, and the Pacific.

Infinity Natural Resources

Market Cap: US$810.7m

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

PT. Indika Energy

Market Cap: Rp13.3t

Operates as an integrated energy company in Indonesia.

Viridien Société anonyme

Market Cap: €630.3m

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.

Riley Exploration Permian

Market Cap: US$716.0m

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.

Surge Energy

Market Cap: CA$967.1m

Engages in the exploration, development, and production of oil and gas properties in Western Canada.

Pason Systems

Market Cap: CA$951.9m

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

Longyan Zhuoyue New Energy

Market Cap: CN¥4.4b

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

Saturn Oil & Gas

Market Cap: CA$907.9m

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

GeoPark

Market Cap: US$622.5m

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

Harum Energy

Market Cap: Rp10.8t

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

Obsidian Energy

Market Cap: CA$848.7m

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

Core Laboratories

Market Cap: US$514.8m

Provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally.

Logan Energy

Market Cap: CA$636.3m

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

Calfrac Well Services

Market Cap: CA$625.8m

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

Deep Industries

Market Cap: ₹40.1b

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

OPAL Fuels

Market Cap: US$412.4m

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$545.6m

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

PHX Energy Services

Market Cap: CA$513.4m

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.

PetroVietnam Transportation

Market Cap: ₫9.2t

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

E1

Market Cap: ₩490.3b

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

Hibiscus Petroleum Berhad

Market Cap: RM 1.4b

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

Capricorn Energy

Market Cap: UK£251.3m

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

Ventura Offshore Holding

Market Cap: NOK 3.1b

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$432.6m

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

Gulf Marine Services

Market Cap: UK£219.6m

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

Elnusa

Market Cap: Rp5.0t

Provides oil and gas services in Indonesia.

Odfjell Technology

Market Cap: NOK 2.3b

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.

Imperial Petroleum

Market Cap: US$209.3m

Provides seaborne transportation services worldwide.

Journey Energy

Market Cap: CA$280.7m

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

NorAm Drilling

Market Cap: NOK 1.8b

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$243.0m

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

Amplify Energy

Market Cap: US$160.2m

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

Deleum Berhad

Market Cap: RM 449.7m

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

Susco

Market Cap: ฿2.1b

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

Highwood Asset Management

Market Cap: CA$88.2m

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