Global energy stocks are back in focus after Ukrainian drones hit Russia’s largest oil refinery in Omsk, disrupting a facility with over 21 million metric tons per year of capacity and raising fresh questions about supply security and regional risk. When critical infrastructure comes under threat, price swings and changing risk premiums can quickly reshape opportunities across the sector. This article looks at how that news exposure might matter for you as an investor and highlights 3 stocks from our Global Energy Sector Stocks screener that appear to be linked to this development.

Serica Energy (AIM:SQZ)

Overview: Serica Energy is a UK based oil and gas producer that focuses on identifying, acquiring and developing offshore reserves, then selling the resulting gas, oil and natural gas liquids into the domestic market. Its operations are centred in the North Sea, with corporate headquarters in Aberdeen.

Operations: Serica Energy generates all of its approximately US$601 million in revenue from oil and gas exploration, development, production and related activities in the United Kingdom.

Market Cap: £842,816,878

Serica Energy gives exposure to upstream production in the UK North Sea at a time when geopolitical risks, such as the Omsk refinery strike, are keeping supply security in focus. The company is currently loss making and returns on equity are weak. Analyst commentary points to potential profitability and possible upside based on free cash flow potential and a discounted cash flow estimate that sits above the present share price. A relatively high dividend yield, pending shareholder approval, adds income appeal but coverage by earnings and cash flow is tight. For investors comfortable with North Sea concentration, tax uncertainty and energy transition pressures, the key consideration is whether today’s risk and pricing fully reflect the long term cash generation profile.

Serica Energy’s combination of North Sea cash flow potential, current losses and a high but tightly covered dividend means the usual headline metrics may not tell the full story. As a result, it is worth reading the 3 key rewards and 1 important major warning sign

Seadrill (SDRL)

Overview: Seadrill is an offshore drilling contractor that owns and operates drillships, semi-submersible rigs and jackups, providing well drilling services in shallow to ultra deep water for oil supermajors, national oil companies and independent producers worldwide.

Operations: Seadrill generates all of its approximately US$1.4b in revenue from oil and gas contract drilling, with key exposure to Angola, Brazil, Norway and the United States.

Market Cap: US$2.5b

Seadrill sits at the sharp end of the offshore cycle, and the Omsk refinery attack helps explain why investors are watching it closely as supply risks keep attention on offshore barrels. The company runs a high specification deepwater fleet in a tight rig market, and analysts expect strong improvements in revenue and margins as more rigs roll onto higher dayrate contracts, supported by an extended share repurchase program and raised 2026 revenue guidance of US$1.43 to US$1.48b. At the same time, Seadrill is still loss making, carries funding and legal risks, and has seen insider selling. For investors weighing that trade off, the key question is how much of the potential offshore upcycle is already reflected in today’s price.

Seadrill’s accelerating rig repricing story, with higher dayrate contracts and raised 2026 revenue guidance, is only half the picture; the real twist sits inside the 2 key rewards and 1 important warning sign

Patterson-UTI Energy (PTEN)

Overview: Patterson-UTI Energy is a Houston based oilfield services company that helps producers drill and complete onshore oil and gas wells, offering rigs, pressure pumping, wireline and digital drilling tools across the United States and internationally.

Operations: Patterson-UTI Energy generates most of its revenue from Completion Services at about US$2.8b, followed by Drilling Services at about US$1.5b, Drilling Products at about US$338m and Other Operations at about US$23m.

Market Cap: US$3.3b

Patterson-UTI Energy gives you direct exposure to North American drilling and completion activity at a time when supply risks, including the Omsk refinery strike, are keeping attention on secure oil and gas production. However, the company is still loss making and reliant on external borrowing. Its mix of high spec rigs, digital drilling tools and LNG linked gas exposure has drawn interest from analysts, while recent Q1 losses, softer activity and insider selling point to execution and cycle risk. For investors weighing that trade off, the key question is whether today’s valuation, dividend and LNG demand story fully reflect the potential upside and the capital intensity required to pursue it.

Patterson-UTI Energy’s high spec rigs and LNG angle have investors intrigued, but the real tension sits between capital intensity, losses and future cash potential. The analysis report for Patterson-UTI Energy starts to unpack this before introducing an unexpected twist.

The three stocks covered here are only a starting point, as the full Global Energy Sector Stocks screener surfaces 43 more companies with equally compelling energy narratives and different ways of expressing this theme. Unlock a broader view of the sector and identify the catalysts that matter most to you by using Simply Wall St to filter for balance sheet strength, cash flow resilience and risk factors so you can focus on the highest conviction ideas in line with your own criteria.

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If Serica Energy or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Fresh Alternatives Beyond Energy?

New ideas do not stay quiet for long, so use this moment before the crowd catches on and fresh themes start breaking out, then consider your options early.

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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.