Oil Prices Surge: 3 Stocks to Watch in the Energy Sector
The recent surge in oil prices above $100 has sent shockwaves through global energy markets. This development is expected to punish fuel-hungry businesses and put a spotlight on producers tied to crude prices.
Three stocks from the Global Energy Producers screener are highlighted for their exposure to this news: Ring Energy (REI), Greenfire Resources (GFR), and Infinity Natural Resources (INR).
Ring Energy is a Texas and New Mexico-focused independent producer that acquires, drills, and operates oil and gas fields tied directly to commodity prices. The company's recent acquisition of Lime Rock assets has led to meaningful reductions in lease operating expenses and are expected to deliver continued cost savings and operational stability.
Greenfire Resources is a Canadian pure-play oil sands producer developing and operating upstream heavy oil projects in Alberta's Athabasca region. The company generates about CA$581 million from oil sands operations in Canada, with all reported revenue tied to its Athabasca assets.
Infinity Natural Resources develops crude oil, natural gas, and NGL assets across the Utica and Marcellus shales in the Appalachian Basin. The company generates about US$522.7 million from crude oil and natural gas activities, entirely from operations in the United States.