Missile threats around Saudi Arabia, a slide in shipping through the Strait of Hormuz, and fresh headlines from Iran have pushed oil back into the spotlight and reminded investors how quickly geopolitics can jolt energy markets. That kind of shock can punish some stocks yet open doors for others. This article walks through 3 large, financially healthy oil and gas producers that stand out in light of the latest news.

These 3 stocks are a starting sample, and the full screen surfaced 29 more companies with equally compelling stories that are not covered below. If you want to move faster, head straight into the Energy Sector (Oil & Gas Producers) screener to identify, compare, and analyze the highest conviction ideas in this corner of the energy sector.

Core Natural Resources (CNR)

Overview: Core Natural Resources is a U.S. based producer and exporter of metallurgical and thermal coal, running a portfolio of underground and surface mines across Pennsylvania, Colorado, West Virginia and Wyoming, plus a coal export terminal in the Port of Baltimore. The company supplies steelmakers and power producers at home and overseas, giving it direct exposure to global energy and commodity pricing.

Market Cap: US$4.22b

Core Natural Resources operates at the intersection of tight global fuel markets and rising coal demand tied to power needs and steel production, which recent Middle East shipping disruptions have highlighted. The company has moved from losses into profit in 2026, is buying back stock, and has started returning cash through dividends, while management has discussed cash generation from low cost, high quality assets. At the same time, you are still dealing with a coal pure play facing long term regulatory and ESG pressure, funded entirely from higher risk external sources, and led by a relatively new leadership team with pay packages that invite extra scrutiny. That mix of current cash potential and clear structural risk is what makes CNR worth a closer look.

Core Natural Resources has shifted from losses to profit and is sending cash back to shareholders. Get a clearer read on what the market might be missing with the Core Natural Resources financial health report.

Build your own cash generating shortlist

Core Natural Resources and the other stocks in this article all came from a single screen, but your edge comes from tuning the filters to what matters most to you. Use our flexible Screener to blend metrics like cash generation, balance sheet strength and risk, or start with one of our curated Investing Ideas.

Meren Energy (TSX:MER)

Overview: Meren Energy is a Vancouver based oil and gas exploration and production company with producing assets in deepwater Nigeria and a portfolio of development and exploration projects across West and Southern Africa, including Namibia, South Africa and Equatorial Guinea. It gives investors focused exposure to offshore African crude, from current fields to longer dated discoveries.

Operations: Meren Energy currently generates its revenue primarily from International Oil and Gas Exploration, which contributed about $600 million.

Market Cap: CA$1.35 billion

Meren Energy offers direct exposure to a higher oil price backdrop that could result from disruption in key sea lanes such as the Strait of Hormuz. Its African offshore portfolio provides a mix of current production and large development projects like Venus and Preowei. The stock screens as relatively attractive value on cash flow expectations and P/S. At the same time, the company is still reporting losses, carries a high dividend that is not covered by earnings, and relies on higher risk external funding. Combined with a recent downgrade and a relatively inexperienced management team, this creates a complex risk reward profile that may warrant closer analysis from investors who are prepared to weigh longer term projects against shorter term volatility.

Meren Energy’s mix of offshore projects, cash flow focused metrics and uncovered dividend raises questions about what the market is really pricing in. See how the risks and upside stack up in the analysis report for Meren Energy.

National Atomic Company Kazatomprom JSC (LSE:KAP)

Overview: National Atomic Company Kazatomprom JSC is a Kazakhstan based uranium producer that explores, mines, processes, markets, and sells uranium and related products used in nuclear fuel, while also producing rare metals such as beryllium, tantalum, and niobium and offering a range of technical, security, and logistics services to global customers.

Operations: Kazatomprom generates most of its revenue from uranium at about KZT 1,576,005 million, with smaller contributions from its Ulba Metallurgical Plant segment at about KZT 92,360 million and other activities at about KZT 283,371 million.

Market Cap: $17.93b

National Atomic Company Kazatomprom JSC sits at the center of global nuclear fuel supply, which can look especially relevant when Middle East shipping routes are under pressure and utilities are reassessing where they source uranium. The company combines an industry leading cost base and high margins with a broad international customer list. Analyst expectations and a discounted cash flow estimate indicate potential upside if forecasts play out. At the same time, recent quarterly losses, rising input costs, higher transport expenses on alternative routes, and a dividend that leans heavily on free cash flow highlight meaningful risks. For investors, an important consideration is whether Kazatomprom’s pricing power and contract pipeline can stay ahead of those pressures.

National Atomic Company Kazatomprom JSC sits at the crossroads of pricing power and cost pressure, which many investors may still be underestimating. To see how that balance looks when you line up contracts, margins and logistics, head to the 2 key rewards and 1 important warning sign

Seeking Alternatives Before The Crowd Moves

Fresh ideas can move quickly. The strongest themes often break out while most investors are caught watching yesterday’s winners. Scan these under the radar lists now and look at them before they become more widely followed.

• Spot strong cash generators before they start flying by running a focused search through the 50 high quality undervalued stocks while it still sits under the wider market’s radar.
• Look for momentum where data centers and chips meet by scanning the 56 AI infrastructure stocks while demand stories are building and before sentiment shifts away.
• Track where electrification pressure is building by reviewing the 36 power grid technology and infrastructure stocks while the grid upgrade story is still forming and prices have not fully caught up.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.