Oil and Gas

Top 5 Oil and Gas Stocks on the TSX and TSXV in 2022

Oil and Gas Investing
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The five top oil and gas stocks on the TSX and TSXV are making gains on geopolitical instability.

Click here to read the previous top oil and gas stocks article.

Oil and gas prices had a strong year in 2022 as demand for the energy fuels returned to pre-COVID-19 levels and Russia's invasion of Ukraine impacted commodities markets around the world.

Despite policy changes by governments looking to transition to cleaner energy sources, oil and gas are expected to continue to play an important role in the world’s energy mix far into the future. Geopolitical uncertainty will continue to weigh on oil and gas prices in 2023, but analysts anticipate healthy demand levels for both of the commodities.

The five top oil and gas stocks on the TSX and TSXV outlined below have displayed significant growth in 2022 on stronger oil and gas prices. All yearly performance and share price data was obtained on December 14, 2022, using TradingView’s stock screener, and the top oil and gas stocks listed had market caps above C$10 million at that time.

1. Kolibri Global Energy (TSX:KEI)

Year-to-date increase: 375 percent; market cap: C$131.42 million; current share price: C$3.80

Kolibri Global Energy is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the company owns and operates energy properties in the US. Its flagship property is the Tishomingo shale oil property in Oklahoma’s Ardmore Basin.

In November, Kolibri reported that its net income for the third quarter was US$9.3 million, compared to net income of US$0.6 million for the year-ago period. The company attributes this large net income increase to rising average oil prices and increased production, as well as a quarterly unrealized gain on commodities contracts of US$4.6 million. Shares of Kolibri Global Energy reached their highest level for 2022 on December 1, coming in at C$4.03.

2. Wescan Energy (TSXV:WCE)

Year-to-date increase: 350 percent; market cap: C$10.42 million; current share price: C$0.27

Wescan Energy is an oil and gas exploration, development and production company with light oil and liquids-rich natural gas operations and reserves in Alberta and Saskatchewan. Earlier this year, the company raised C$500,000 in a private placement to fund further development and completion of a new well on its core property in Alberta.

Shares of Wescan Energy reached their highest point for 2022 on June 10, coming in at C$0.48.

3. Pieridae Energy (TSX:PEA)

Year-to-date increase: 260.61 percent; market cap: C$192.45 million; current share price: C$1.19

Pieridae Energy is focused on exploring for and extracting natural gas; it also has midstream infrastructure and integration opportunities in liquefied natural gas exports. The Calgary-based company's highest-producing assets are in the southern and central foothills of Alberta’s Rocky Mountains, and between all of its assets it produces around 40,000 barrels of oil equivalent per day (boe/d).

In May, the company reported that its cost discipline strategy resulted in a 127 percent increase in net operating income for Q1 compared to the same period the previous year. Pieridae Energy saw its share price rise to a year-to-date high of C$1.98 on June 7.

4. Southern Energy (TSXV:SOU)

Year-to-date increase: 200 percent; market cap: C$118.24 million; current share price: C$0.90

Oil and gas exploration and production company Southern Energy is primarily focused on acquiring and developing conventional natural gas and light oil resources in the Southeast Gulf states of Mississippi, Louisiana and East Texas. Its core asset base consists of 2,300 boe/d of high-margin, low-decline stable production and a combined area of 33,000 acres held by production.

Shares of Southern Energy reached their highest point for 2022 on June 10, coming in at C$1.49.

5. Petrus Resources (TSX:PRQ)

Year-to-date increase: 165.91 percent; market cap: C$283.13 million; current share price: C$2.34

Petrus Resources is an energy company working in Western Canada, where its main areas of operation are Ferrier, Central Alberta and the Rocky Mountain foothills. It also has a stable of what it calls "low risk oil and natural gas development assets."

Petrus Resources saw its share price rise to a year-to-date high of C$3.42 on June 8. In 2023, the company is expecting to increase its average production rate by 75 percent over 2022 to reach a projected average annual rate of 13,000 to 13,500 boe/d.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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