Oil Price Surge Spikes Interest in Granite Ridge Resources, Topaz Energy, and Helmerich & Payne

The recent surge in oil prices to multi-month highs has sent shockwaves through global markets. Strikes on Iranian assets and rising tensions in the Strait of Hormuz have driven up crude prices, affecting various energy-related stocks. The Global Oil & Gas Producers screener highlights three companies that are reacting positively to this news: Granite Ridge Resources (GRNT), Topaz Energy (TSX:TPZ), and Helmerich & Payne (HP).

Granite Ridge Resources is a non-operated oil and natural gas exploration and production company with a market cap of approximately $663 million. The company's revenue comes entirely from the United States, primarily through wells in key shale basins such as the Permian, Eagle Ford, Bakken, and Haynesville.

Topaz Energy is a Canadian royalty and infrastructure energy company with a large-cap market value of around $5 billion. It generates revenue mainly from royalties and infrastructure assets, including gas processing facilities, all within Canada. Topaz's asset-light model converts a significant portion of its revenue into cash, providing it with leverage to sustained strength in crude and gas prices.

Helmerich & Payne provides drilling rigs and related technologies to oil and gas producers, closely tied to the Global Oil & Gas Producers theme. The company's large fleet of high-spec rigs, growing international contracts, and digital drilling tools are central to its story. However, Helmerich & Payne faces pressure from cost inflation, periods of low utilization, and a dividend that is not fully supported by current earnings.