Norwegian Energy Undervalued over 20% based on DCF

Aker BP

Market Cap: NOK 224.1b

Engages in the exploration, field development, and production of oil and gas on the Norwegian Continental Shelf.

Vår Energi

Market Cap: NOK 124.0b

Operates as an independent upstream oil and gas company on the Norwegian continental shelf in Norway.

Subsea 7

Market Cap: NOK 100.1b

Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide.

TGS

Market Cap: NOK 27.3b

Provides geoscience data services to the oil and gas industry in Norway and internationally.

Aker Solutions

Market Cap: NOK 21.2b

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.

DNO

Market Cap: NOK 17.8b

Engages in the exploration, development, and production of oil and gas assets in the Middle East, the North Sea, and West Africa.

BW Offshore

Market Cap: NOK 8.2b

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

Aqualis

Market Cap: NOK 1.2b

An investment holding company, provides marine, offshore, and renewables consultancy services to the energy, shipping, and insurance industries worldwide.

Petrolia

Market Cap: NOK 395.5m

Engages in the rental and sale of energy service equipment to energy industry in Norway, rest of Europe, Asia, and Australia.

Havila Shipping

Market Cap: NOK 312.3m

Engages in the shipping business.

Independent Oil & Resources

Market Cap: NOK 172.5m

An investment company, focuses on investing and trading in the oil and gas, and green energy industries in Cyprus.

On & Offshore Holding

Market Cap: NOK 13.2m

Provides project implementation and staffing services in mechanical, electrical, and hydraulic disciplines worldwide.