Granite Point Targets BluEnergies, Spartan Delta in Energy Pick

Granite Point Research has identified BluEnergies, Spartan Delta, and CanCambria Energy as its top North American oil and gas picks for the remainder of 2026. The firm argues that the energy sector is well-positioned to lead market performance as crude oil prices stabilize near US$100 per barrel, while North American natural gas faces downward pressure.

John Stephenson, the firm's founder, advises investors to prioritize inexpensive securities with identifiable catalysts, noting that the U.S. market appears overvalued with a Shiller PE ratio of 40.52 compared to a long-term mean of 17.42. This valuation gap, reported by BNN Bloomberg, underscores the strategic focus on specific energy plays over broad market exposure.

Offshore Liberia acquisition drives BluEnergies

BluEnergies is highlighted for its partnership with TotalEnergies in three offshore blocks in Liberia. The company holds 2.2 million acres featuring seven deep-water fans, with a focus on Cretaceous fan plays that offer large scale and short cycle times from discovery to first oil.

The selection is further supported by BluEnergies' recent acquisition of a tested sand channel play in the shallow Gulf of Mexico. As the only active junior in offshore Liberia, the company benefits from geological similarities to major producing regions in Guyana and Brazil, offering multi-billion barrel of oil equivalent resource potential.

Spartan Delta production growth accelerates

Spartan Delta's second-quarter production increased by 37 percent, pushing its oil and liquids ratio toward 70-80 percent across its 550,000-acre Duvernay position. The stock has outperformed the XEG index by 15 points year-to-date, reflecting a shift in investor focus due to improved economics in the play.

Management plans to increase capital expenditure by 10 percent and production by 2 percent, while expanding Duvernay acreage by 6 percent to 867 sections. These operational targets are underpinned by strong well results in both Duvernay and Mannville formations, contributing to a robust balance sheet.

CanCambria targets European gas value

CanCambria Energy holds 100 percent working interest in the Kiskunhalas Tight Gas Sand Project in southern Hungary, accessing a high-impact exploration trend within a 350 square kilometer concession. The company is evaluating ten newly identified oil prospects at approximately 1,500 meters, providing low-cost, near-term oil-weighted potential.

The project benefits from European natural gas trading at US$27.27 per Mcf, significantly higher than the US$2.92 price at Henry Hub. With a joint venture process expected to conclude in the fourth quarter of 2026, the company aims to monetize its position in a proven basin with approximately two trillion cubic feet of gas in place.