Energy

Ampol runs one of Australia’s key fuel and retail energy networks, combining refining, logistics, service stations, and commercial supply. The appeal in the business lies in its scale, infrastructure base, and cash-generation capacity, even as it works through a weaker margin cycle.

Chord Energy is a Bakken-focused oil and gas producer built around low leverage, solid free cash flow, and disciplined capital allocation. Its valuation remains modest relative to peers, making the company’s financial resilience and cash generation worth a closer look.

Antero Midstream runs gas and water infrastructure in Appalachia, earning largely fee-based revenue tied to Antero Resources. Strong margins and improving free cash flow make it notable, while its focused footprint gives the business unusually clear operating visibility.