The five top oil and gas stocks on the TSX and TSXV are making gains in the face of market volatility.
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Oil and gas prices rallied in the first half of 2021 on post-COVID-19 lockdown demand.
Despite the overall volatility in the energy sector, these five top oil and gas stocks on the TSX and TSXV have garnered significant growth in 2021 on stronger oil and gas prices. Below the Investing News Network has assembled information about these energy stocks for investor consideration.
All yearly performance and share price data were obtained on August 5, 2021, using TradingView’s stock screener. All top oil and gas stocks listed had market caps above C$10 million at that time.
1. Petro Victory Energy (TSXV:VRY)
Year-to-date performance: 593.75 percent; current share price: C$2.22
Brazil-focused Petro Victory Energy is engaged in the acquisition, development and production of crude oil and natural gas assets. The company has working interests in 28 licenses covering 168,433 acres in four oil-producing basins in the country, plus a royalty agreement related to a concession in Paraguay.
In early May, Petro Victory announced independently certified reserves for the first time ever. According to the company, its Andorinha, Carapitanga and Sao Joao oil fields have proved plus probable reserves of 2.83 million barrels of oil. Its share price rose exponentially from the C$0.31 level to hit C$4.89, its highest point so far this year, on May 4.
2. Journey Energy (TSX:JOY)
Year-to-date performance: 469.57 percent; current share price: C$1.31
Journey Energy is an explorer and producer focused on oil-weighted operations in Western Canada. The company operates in the central region, south region and Resource Fairway in Alberta.
In late June, Journey Energy entered into a definitive agreement to purchase a private company producing approximately 610 barrels of oil equivalent per day (76 percent natural gas), primarily in the Nordegg and Grande Cache areas of Alberta. The news sent shares of Journey Energy to their highest price so far in 2021, coming in at C$1.74 on June 29.
3. Inplay Oil (TSX:IPO)
Year-to-date performance: 391.3 percent; current share price: C$1.13
Inplay Oil is a light oil development and production company based in Alberta. The company’s activity is focused on large oil-in-place pools with low recovery factors, low declines and long-life reserves; it is primarily targeting the Cardium Formation in Alberta.
In early July, Inplay Oil reported record quarterly production for Q2. The company attributed its success to the continued outperformance of six 100 percent Cardium wells drilled in Pembina, as well as three 100 percent Pembina Cardium 1.5 mile wells drilled on the company’s recently acquired lands; these were brought online earlier this year.
The company saw its share price rise to a year-to-date high of C$1.50 on July 6.
4. Athabasca Oil (TSX:ATH)
Year-to-date performance: 358.82 percent; current share price: C$0.78
Athabasca Oil is a liquids-weighted intermediate producer focused on the development of thermal and light oil assets in Alberta’s Western Canadian Sedimentary Basin. The company’s asset base includes projects in some of Canada’s most active resource plays, including Montney, Duvernay and Oil Sands.
Athabasca Oil’s Q2 results include production of approximately 34,650 barrels of oil equivalent per day, including approximately 26,450 barrels per day in thermal oil and around 8,200 barrels of oil equivalent per day in light oil. The company also reported record operating income of C$93 million, driven by strong oil prices and a 90 percent liquids weighting. The company’s share price hit a high of C$1.02 June 23.
5. Hemisphere Energy (TSXV:HME)
Year-to-date performance: 350 percent; current share price: C$0.90
Hemisphere Energy’s portfolio consists of high netback, low-decline conventional heavy oil assets in the Jenner and Atlee Buffalo areas of Alberta. Its operations use water and polymer flood-enhanced oil recovery methods. Polymer flooding is commonly used to improve oil recovery from reservoirs.
Highlights from Hemisphere’s Q1 financial and operational results include production that was on average 9 percent higher than Q4 2020. In the second quarter of 2021, production figures continued to climb, averaging over 1,800 barrels of oil equivalent per day as of May 16 (99 percent heavy crude oil and 1 percent conventional natural gas).
Also in the first quarter, the company invested C$1.1 million in capital expenditures, including facility upgrades to allow for polymer injection startup at the Atlee Buffalo G pool by the end of June. Shares of Hemisphere reached their highest peak for the year on June 28 at C$1.03.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.