Global Energy Undervalued over 20% based on DCF

ConocoPhillips

Market Cap: US$115.7b

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

China Shenhua Energy

Market Cap: HK$801.3b

Engages in the production and sale of coal and power; railway, port, and shipping transportation; and coal-to-olefins businesses in the People’s Republic of China and internationally.

Gazprom

Market Cap: ₽4.7t

Public Joint Stock Company Gazprom, an integrated energy company, engages in the geological exploration, production, processing, storage, transportation, and sale of gas, gas condensates, and oil in Russia and internationally.

Williams Companies

Market Cap: US$70.7b

Operates as an energy infrastructure company primarily in the United States.

Kinder Morgan

Market Cap: US$59.5b

Operates as an energy infrastructure company primarily in North America.

Imperial Oil

Market Cap: CA$59.4b

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

Baker Hughes

Market Cap: US$42.3b

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

PJSC LUKOIL

Market Cap: ₽2.5t

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas.

Targa Resources

Market Cap: US$35.9b

Together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America.

Woodside Energy Group

Market Cap: AU$50.9b

Engages in the exploration, evaluation, development, production, marketing, and sale of hydrocarbons in the Asia Pacific, Africa, the Americas, and the Europe.

Venture Global

Market Cap: US$33.1b

Engages in the development, construction, and production of natural gas liquefaction and export projects near the U.S.

China Coal Energy

Market Cap: HK$165.5b

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

Inpex

Market Cap: JP¥2.7t

Engages in the research, exploration, development, production, and sale of oil, natural gas, and other mineral resources in Japan and internationally.

Halliburton

Market Cap: US$17.8b

Provides products and services to the energy industry worldwide.

Ecopetrol

Market Cap: Col$71.5t

Operates as an integrated energy company.

Repsol

Market Cap: €15.2b

Operates as a multi-e energy company in Spain, Peru, the United States, Portugal, and internationally.

PJSC Tatneft

Market Cap: ₽915.4b

Engages in exploration, development, and production of crude oil in Russia and internationally.

Aker BP

Market Cap: NOK 154.1b

Explores for, develops, and produces oil and gas on the Norwegian Continental Shelf.

TechnipFMC

Market Cap: US$14.4b

Engages in the energy projects, technologies, systems, and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally.

YPF Sociedad Anónima

Market Cap: AR$18.7t

An energy company, engages in the oil and gas upstream and downstream activities in Argentina.

Galp Energia SGPS

Market Cap: €11.5b

Operates as an integrated energy operator in Portugal and internationally.

Neste Oyj

Market Cap: €11.3b

Provides renewable diesel and sustainable aviation fuel in Finland, other Nordic countries, Baltic Rim, other European countries, the United States, and internationally.

OMV Petrom

Market Cap: RON 51.4b

An energy company, engages in the exploration and production of oil and gas in Southeastern Europe.

Antero Resources

Market Cap: US$10.2b

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.

Hess Midstream

Market Cap: US$8.6b

Owns, operates, develops, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States.

SNGN Romgaz

Market Cap: RON 31.8b

Explores for, produces, and supplies natural gas in Romania.

APA

Market Cap: US$7.0b

An independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids.

Gaztransport & Technigaz

Market Cap: €6.0b

A technology and engineering company, provides cryogenic membrane containment systems for the maritime transportation and storage of liquefied gases in South Korea, China, and internationally.

Shanxi Coking Coal Energy Group

Market Cap: CN¥41.4b

Shanxi Coking Coal Energy Group Co., Ltd.

INA-Industrija nafte d.d

Market Cap: €4.9b

Explores for, produces, refines, and sells oil and gas.

NOV

Market Cap: US$4.4b

Designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally.

Transportadora de Gas del Sur

Market Cap: AR$5.8t

Engages in transportation of natural gas, and production and commercialization of natural gas liquids in Argentina and internationally.

Noble

Market Cap: US$4.2b

Operates as an offshore drilling contractor for the oil and gas industry worldwide.

Archrock

Market Cap: US$4.0b

Operates as an energy infrastructure company in the United States.

Weatherford International

Market Cap: US$4.0b

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

Delek Group

Market Cap: ₪12.8b

An energy company, engages in the exploration, development, production, and marketing of oil and gas in Israel and internationally.