5 Best-performing Canadian Oil and Gas Stocks (Updated August 2024)

Year-to-date gain: 236.36 percent; market cap: C$413.8 million; share price: C$1.11

Sintana Energy, an oil and gas exploration and development company, operates across five highly prospective onshore and offshore petroleum exploration licenses in Namibia and Colombia.

The company saw tailwinds early in the year after releasing updates on exploration in Namibia’s Orange Basin. It made two significant light oil discoveries in January at petroleum exploration license 83.

February saw more share price growth when Sintana was listed on the TSX Venture 50 as the top energy performer.

In June, the company finalized its acquisition of a 49 percent interest in Giraffe Energy Investments as per an agreement dated April 24. Giraffe Energy holds a 33 percent stake in petroleum exploration license 79 in Namibia.

The remaining 67 percent of the license is owned by National Petroleum Corp. of Namibia, which is the operator.

Year-to-date gain: 30.4 percent; market cap: C$2.98 billion; current share price: C$5.49

Athabasca Oil is focused on developing thermal and light oil assets within Alberta's Western Canadian Sedimentary Basin. The company has established a substantial land base with high-quality resources. Its light oil operations are managed through its private subsidiary, Duvernay Energy, in which the company holds a 70 percent equity interest.

At the end of July, Athabasca released its Q2 results, reporting average Q2 production of 37,621 boe/d, resulting in an increase in its annual production guidance to 36,000 to 37,000 boe/d. The company also achieved record adjusted funds flow of C$166 million, and cashflow from operating activities of C$135 million.

Year-to-date gain: 23.94 percent; market cap: C$99.4 million; current share price: C$1.76

Condor Energies concentrates on the exploration, development and production of natural gas in Turkey, Kazakhstan and Uzbekistan. The company is currently building Central Asia's inaugural liquefied natural gas (LNG) facility.

In late January, Condor secured a natural gas allocation from the Kazakhstan government for its maiden modular LNG production facility. The gas allocation will be instrumental in liquefying feed gas to produce up to 350 metric tons per day of LNG, equivalent to about 210,000 gallons per day, the company said.

In March, the energy company began a production-enhancement operation for eight natural gas condensate fields in Uzbekistan. Gas output will be directed to the domestic market through state entity agreements. Condor has agreed to cover project costs and receive a share of the generated revenues. In July, Condor signed its first LNG framework agreement for producing and utilizing LNG to power rail locomotives in Kazakhstan.

In mid-August, Condor released its Q2 report, highlighting that Uzbekistan production averaged 10,052 boe/d for the period, consisting of 59.03 million cubic feet per day and 213 barrels of oil per day of condensate.

Q2 sales of gas and condensate from Uzbekistan totaled C$18.95 million. The company also notes that it launched a multi-well workover campaign across eight natural gas condensate fields in Uzbekistan in June.