3 Oil And Gas Stocks With Direct Exposure To Higher Drilling Activity

Oil and gas prices sit at the centre of almost every bill you pay, from food on shelves to flights you book, and the latest geopolitical shocks and policy moves have turned that pressure up again. Elevated fuel costs, supply disruptions, and shifting tax talk are reshaping which US energy stocks feel the heat and which feel the tailwind. This article walks through 3 stocks from our US Oil & Gas Producers and Integrated Energy Majors screener that appear especially exposed to the current news cycle, and explains in plain English why each could matter for your portfolio decisions.

The three stocks covered below are just a sample, and the full screen surfaced 19 more US Oil & Gas Producers and Integrated Energy Majors with equally compelling narratives that are not broken down in this article. If you want to identify patterns, analyze balance sheet strength, and focus on the highest-conviction oil and gas exposure ideas, head straight into the US Oil & Gas Producers and Integrated Energy Majors screener.

Ranger Energy Services (RNGR)

Overview: Ranger Energy Services runs high spec well service rigs, wireline units, and related rentals that keep US onshore oil and gas wells producing.

Operations: Ranger generates US$395.7 million from High Specification Rigs, US$152.2 million from Processing Solutions and Ancillary Services, and US$58.8 million from Wireline Services, all in the United States.

Market Cap: US$362 million

Ranger Energy Services gives you a way to tap into US oil and gas activity through the day to day work that keeps shales flowing. One recent move shows how management is trying to deepen that link to production driven demand.

"The acquisition of American Well Services increases Ranger's workover rig fleet by approximately 25% in the Permian Basin, which can support higher utilization across a larger rig base and a broadened customer set, with a direct link to revenue and adjusted EBITDA.

What matters next is how one unseen pressure on returns plays out against that larger, more concentrated US production footprint.

That pressure point is exactly what the full narrative for Ranger Energy Services unpacks, highlighting where utilization, pricing power, and capital discipline could be quietly decoupling for Ranger Energy Services.

Surge Energy (TSX:SGY)

Overview: Surge Energy is a Calgary based producer that drills for and pumps crude oil and natural gas across Western Canada’s key light oil plays.

Operations: Surge Energy generates about CA$534 million from oil and gas exploration and production, with all reported revenue sourced in Canada.

Market Cap: CA$1.17 billion

For investors using this screener to lean into oil price sensitivity, Surge Energy offers direct leverage to crude linked cash flows that are tied to Western Canadian production rather than US refining spreads.

"Higher planning assumptions around US$75 to US$80 WTI and tight Canadian differentials support Surge Energy's internal outlook for $335 million of adjusted funds flow and $145 million of free cash flow in 2026, which could feed into higher earnings power if those commodity conditions hold."

What really moves the needle for Surge Energy is how one quietly shifting production and decline profile filters through into margins and free cash flow.

As that profile shifts, full narrative for Surge Energy shows how Surge Energy's cash generation, reinvestment pace and risk profile could be quietly accelerating beyond headline oil price assumptions.

Patterson-UTI Energy (PTEN)

Overview: Patterson-UTI Energy provides high spec drilling rigs, frac fleets, and drilling tools that directly serve US oil and gas producers.

Operations: Patterson-UTI Energy generates about US$2.8b from Completion Services, US$1.5b from Drilling Services, US$341 million from Drilling Products, and US$25 million from Other Operations.

Market Cap: US$4.4b

Patterson-UTI Energy sits closer to the engine room of this screener than most, since its rigs and frac fleets respond directly when higher crude and gas prices push US producers to drill and complete more wells.

"The shift of Patterson-UTI Energy’s frac fleet toward natural gas fueled horsepower, with an expectation that about 90% of active horsepower will be substantially gas powered and more than 15% fully gas powered by the end of 2026, positions the company to operate in a market with tight supply of gas capable fleets and potentially stronger Completion Services pricing and earnings."

What happens to Patterson-UTI Energy’s cash generation if one subtle shift in customer appetite for premium drilling and frac capacity holds firm?

If that appetite holds, the full narrative for Patterson-UTI Energy shows where Patterson-UTI Energy’s cash generation, contract quality, and overlooked risks could be quietly accelerating beyond headline rig counts.

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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.

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