Skip to contentHome page Seeking Alpha - Power to InvestorsJan. 01, 2026 10:45 AM ETGalp Energia, SGPS, S.A. (GLPEF) Stock, GLPEY Stock, TTE StockThe Investment DoctorInvesting Group LeaderCommentsSummaryGalp Energia is undervalued after a 20% drop tied to overblown expectations on its TotalEnergies deal.GLPEF gains deepwater expertise and risk mitigation via TotalEnergies' 40% stake and operatorship in Namibian offshore projects.Current production, including Bacalhau, supports valuation; Mopane and Venus projects are essentially free optionality at current prices.Galp's conservative balance sheet and sub-0.4x EBITDA leverage provide ample headroom for upcoming capex and development.Looking for a portfolio of ideas like this one? Members of European Small-Cap Ideas get exclusive access to our subscriber-only portfolios.