Oil markets are back in the spotlight as Operation Economic Fury, tighter U.S. sanctions on Iran and disruption around the Strait of Hormuz squeeze global supply and feed into inflation worries. That mix can punish some stocks and support others, and sitting on the sidelines may mean missing important moves. This article looks at 3 integrated oil and gas producers that are directly exposed to these headlines.

The 3 stocks below are just a small sample of the integrated producers on the radar, and the full screen surfaced 9 more companies with equally compelling narratives that are not covered here. To go deeper into this opportunity, head straight to the Global Integrated Oil & Gas Producers screener to identify, analyze, and focus on the highest conviction plays.

Granite Ridge Resources (GRNT)

Overview: Granite Ridge Resources is a non operated oil and gas exploration and production company, holding interests in wells and acreage across major U.S. shale basins such as the Permian, Eagle Ford, Bakken, Haynesville, DJ, and Appalachia. It is headquartered in Dallas, Texas and relies on operating partners to drill and run the assets.

Operations: Granite Ridge Resources generates about US$472 million in revenue from oil and natural gas development, exploration and production in the United States.

Market Cap: US$670 million

Investors watching the impact of Operation Economic Fury on energy prices may find Granite Ridge Resources worth a closer look. The company is tightly linked to crude pricing through its U.S. focused, non operated portfolio. At the same time, Granite Ridge carries financial pressure from reliance on external borrowing, a dividend that has not been fully covered by earnings or free cash flow, and mixed profitability, including a net loss over the first half of 2026 despite a profitable Q2. Understanding how its acquisitions, production outlook and balance sheet risks fit together is key to assessing whether the current valuation compensates you for that risk.

Granite Ridge Resources sits at the crossroads of higher crude pricing and balance sheet strain, and the market may not be pricing that mix clearly. Get the full picture with the 3 key rewards and 2 important warning signs (2 are major!)

Build your own oil and gas opportunity shortlist

Granite Ridge Resources and the other two stocks in this list all surfaced from applying a few focused filters, and you can do the same in just a few steps. Use our flexible Screener to mix metrics like valuation, balance sheet strength, risks and dividends, or tap into our curated Investing Ideas for ready made shortlists that match different investing styles.

SECURE Waste Infrastructure (TSX:SES)

Overview: SECURE Waste Infrastructure runs a large network of waste management and energy infrastructure assets in Canada and the United States, handling hazardous and non hazardous liquids and solids, recycling metals and recovered oil, and moving crude oil and natural gas liquids through storage, terminals and pipelines for energy and industrial customers.

Operations: SECURE Waste Infrastructure generates CA$1.31 billion from Waste Management and CA$235 million from Energy Infrastructure, with almost all revenue coming from Canada and a smaller contribution from the United States.

Market Cap: CA$5.27 billion

Investors looking at Operation Economic Fury and higher oil prices may see SECURE Waste Infrastructure as a way to tap into energy activity without taking on full commodity exposure. The company’s volumes are tied to ongoing production, environmental regulation and industrial demand. Management describes this as supporting more stable cash flow across cycles. Q2 2026 results showed higher sales and earnings alongside an eligible dividend and capital spending to grow its infrastructure network. At the same time, high debt, a rich P/E relative to the Canadian oil and gas sector and heavy ties to Western Canada and metal recycling leave the stock sensitive to regulation, tariffs and regional shocks. The impact of the approved CA$5.4 billion sale to GFL Environmental on these trade offs is what investors need to weigh carefully.

SECURE Waste Infrastructure sits at the intersection of heavy infrastructure growth and high leverage. Before you assume the story is all about the P/E, study the 3 key rewards and 1 important warning sign

VAALCO Energy (EGY)

Overview: VAALCO Energy is an independent oil and gas producer that acquires, explores and develops offshore and onshore fields, with producing and development assets spread across Gabon, Egypt, Côte d'Ivoire, Equatorial Guinea, Nigeria and Canada.

Operations: VAALCO Energy generates about US$350 million from exploration for and production of hydrocarbons, with revenue mainly from Gabon at US$184 million and Egypt at US$155 million, and a smaller contribution from Canada.

Market Cap: US$622 million

VAALCO Energy provides direct exposure to higher crude prices that may be associated with Operation Economic Fury, as it is a pure upstream producer with offshore assets that can reflect stronger pricing relatively quickly in earnings. The company is working to grow production in Gabon, Egypt and Côte d'Ivoire, and recent wells in Gabon and Egypt are already contributing new barrels. This supports the view that its drilling plans are gaining traction. At the same time, heavy spending on mature offshore fields, exposure to countries with higher political risk and a dividend that depends in part on external funding mean the stock may carry higher risk. For investors tracking integrated producers that could be positioned to benefit from tighter supply, VAALCO may be a company to consider for further research.

VAALCO Energy is pushing production across Gabon, Egypt and Côte d'Ivoire, and the real story may be how those barrels stack up against political and funding risks. Get the full context in the full narrative for VAALCO Energy

Seeking Fresh Alternatives Beyond Oil?

Markets move fast and the next breakout stories often fly under the radar for now. Before momentum is fully caught by the crowd, scan fresh ideas and act now.

• Spot under the radar cash machines early and review the 49 high quality undervalued stocks while the gap between price and quality still matters.
• Target payout strength with discipline and track the 8 dividend fortresses before yields drop as income hunters arrive.
• Ride structural growth themes with staying power and assess the 36 power grid technology and infrastructure stocks while these infrastructure plays remain mispriced by the crowd.

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.