These three stocks all offer compelling investment cases for the long term. Although in the somewhat riskier commodities sector, these businesses have world class projects and developments. If these are a success, then share prices could rocket. 

Yorkshire fertiliser development

Sirius Minerals  (LSE: SXX) is a UK-based fertiliser company focused on a polyhalite project in North Yorkshire. The project is in pre-development mode but the company think it’s a world class resource and that it could make Sirius a leading fertiliser producer. In March the company released a definitive feasibility study (DFS) of the polyhalite project. It has a net present value of £15bn rising to £27bn on initial production and importantly, the internal rate of return is an attractive 26%. The company previously estimated it needs £2.5bn to get the mine into production in 2021 but this is likely to come down. These DFS figures highlight the scale of the North Yorkshire project and the upside for Sirius is absolutely huge. The crucial step now is to secure financing, which could take some time due to the large amount of cash needed. 

Global heavyweight

BP (LSE: BP) has been under pressure for some time now due to the recent crash in worldwide oil prices. However, with oil back around $50 and BP shares trading with a 7.5% dividend yield there’s considerable scope for a return above 400p soon. BP has one of the best asset bases in the industry and would be one of the biggest companies in the world had the Gulf of Mexico disaster been avoided. The company owns assets that are of extremely high quality and of substantial size to make huge profits even at a lower oil price. The company is set to make over £6bn profit next year on the back of cost-cutting and increased operational efficiencies. 

Fractured basement

Hurricane Energy  (LSE: HUR) has stormed back into industry news recently with a financing deal to provide the company with working capital for two wells this year. The company announced a £52m placing at a 46% premium to the share price with Kerogen Capital, Crystal Amber and Marlborough Fund Nominees. The 293m shares that Kerogen has bought are highly impressive. Kerogen is an international private equity group specialising in oil and gas. For it to have sunk over £40m into Hurricane’s project highlights the quality of assets. Hurricane is exploring and developing oil reservoirs in the North Sea’s fractured basement and made a large discovery with the initial exploration well. CEO Robert Trice recently said if the two wells in Q3 2016 are a success then it “will enable us to advance the development of one of the UK’s largest yet to be developed fields“. All eyes will be on Hurricane in the second half of the year as it could be one of the shares of the year. 

The commodities sector is notoriously volatile but I believe these three companies represent the pick of the bunch and could go on to post huge returns. 

Growth stocks like Hurricane Energy and Sirius Minerals have huge potential but it isn't always delivered. The increased level of risk with these types of stocks must be analysed and stocks must be chosen carefully to avoid losing all your investment. 

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Jack Dingwall has no position in any shares mentioned. The Motley Fool UK has recommended BP. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.