As oil prices have plunged amid a global glut, energy stocks have taken a big hit as well, dropping by as much as half since last June as measured by the S&P 500 Oil & Gas Exploration & Production Select Industry Index.

Some analysts say oil prices, recently around $50 a barrel, could drop further, putting more pressure on energy stocks. But oil prices will eventually rebound as companies pare back production plans and as demand rises. An increase to $75 per barrel could send the most beaten-down energy stocks soaring.

For investors who are daring enough to buy energy stocks when many investors are shunning them, the payoff could be big.

Some of the biggest opportunities now among energy companies…

Whiting Petroleum (WLL) is a large producer in the Bakken shale formation in North Dakota and Montana, which is farther from big energy markets than many other oil fields are. The extra transportation costs for the oil mean that Bakken producers need higher oil prices than operators in other parts of the country to be profitable, and Whiting was hit hard by the decline, as reflected in the stock price, which was down by as much as 70% early this year from its 52-week peak. Recent share price: $34.

Halliburton (HAL) is one of the largest providers of products and services for the global energy industry. When drilling activity rebounds, especially in North American oil fields, so will ­Halliburton, which saw its stock price down this year by as much as 50% from its 52-week peak. The company is doubling down, buying competitor Baker Hughes Inc. in a $35 billion deal. Recent share price: $42.70.

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