What are the five top oil and gas stocks on the TSX and TSXV for 2018? We’ve compiled a list of the top performers year-to-date.
2018 has been a tumultuous year for oil and gas prices, with oil in particular seeing volatility.
Geopolitical uncertainty weighed heavily on the market, and in 2019 more is likely to come. Nevertheless, the five top oil and gas stocks on the TSX and TSXV were still able to see significant growth through the past year, and below we’ve assembled information about those companies for investor consideration.
All year-to-date and share price information was obtained on December 14, 2018 from TradingView. All companies listed had market caps above C$10 million at that time.
1. Perisson Petroleum (TSXV:POG)
Year-to-date growth: 1,400 percent, current share price: C$0.33
Perisson Petroleum considers itself a company that was “born from the light of a new dawn” in Alberta’s energy sector. Headquartered and operating out of the Canadian province, which is known for its vast oil opportunities, Perisson has four areas in Southern Alberta that it’s currently working on, along with assets in Colombia’s Middle Magdalena Basin.
While the company has seen major growth in its share price over 2018, Perisson only had one significant spike through the year. This began in late August, when the company announced a memorandum of understanding to raise US$50 million through a private placement.
2. Tethys Petroleum (TSXV:TPL.H)
Year-to-date growth: 200 percent, current share price: C$0.03
With its main office in the Cayman Islands and operations scattered throughout Kazakhstan and the country of Georgia, Tethys Petroleum has a global presence. An oil and gas exploration and production company, Tethys’ Georgian assets are comprised of the XIM and XIN blocks, while its Kazakhstan assets entail the Doris oil field, the Kul-Bas block and the Kyzyloi and Akkulka gas development.
The company gained some share price strength early in the year on updates from its gas drilling program, along with a later announcement about the receipt of external proposals for share acquisitions in the company. Tethys simmered through 2018’s midsection, but perked up again in Q4 when a corporate update indicated the company was selling oil and gas at “significantly improved” prices.
3. Alvopetro Energy (TSXV:ALV)
Year-to-date growth: 140 percent, current share price: C$0.42
With a vision of becoming a leading independent upstream and midstream operator in Brazil, it goes without saying that Alvopetro Energy’s primary focus is on developing its Brazilian assets. The Canadian company is looking to unlock onshore natural gas potential in Brazil’s Bahia state through its Caburé and Gomo natural gas projects.
Alvopetro saw a slow start to 2018 with regard to its share price, but movement began to pick up in May, when the company announced its long-term natural gas sales agreement and strategy. The company saw its highest price point of 2018 in early November in the days leading up to the release of its Q3 financial and operating results, climbing to C$0.55.
4. CGX Energy (TSXV:OYL)
Year-to-date growth: 118.18 percent, share price: C$0.36
A Canadian oil and gas exploration company, CGX Energy holds three licenses in the Guyana-Suriname Basin. The company’s three primary assets are the Corentyne and Demerara offshore licenses, which are both wholly owned, and the onshore Berbice license, which is held by ON Energy, a 62-percent-owned subsidiary of CGX.
The company experienced two major share price surges during 2018 — one right at the beginning of the year, and the second in the summer months. The first peak, which saw CGX hit C$0.60 on January 8, came days before the company announced the resignation of its CEO. The second boost came on August 9, hot on the heels of CGX naming its Corentyne project; the news sent the company to C$0.50.
5. Eco (Atlantic) Oil and Gas (TSXV:EOG)
Year-to-date growth: 78.57 percent, current share price: C$0.75
Focused on identifying, acquiring and developing upstream petroleum opportunities, Eco (Atlantic) Oil and Gas aims for low-cost entries into politically stable and technically de-risked jurisdictions all over the world. The company has projects in Guyana and Namibia, with its Orinduik block in the former and several licenses in the latter, including Cooper, Sharon and Guy.
Eco had a fairly stable year for its share price with no major plunges, and had company activity carry its upward in Q4. Its share price climbed in September, when Total (NYSE:TOT) subsidiary Total E&P Activités Pétrolières acquired a 25-percent interest in the Orinduik block. It grew again in early November after Guyanese officials approved Total’s acquisition of the interest in Orinduik.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.