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 are moving as demand returns to pre-COVID-19 levels and the Russia/Ukraine war rages.
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 throughout 2022 and beyond, 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 March 16, 2022, using TradingView’s stock screener. All top oil and gas stocks listed had market caps above C$10 million at that time.
1. Razor Energy (TSXV:RZE)
Year-to-date increase: 271.43 percent; current share price: C$2.60
Razor Energy is an oil and gas development and production company with assets in Alberta, primarily in the Swan Hills, Kaybob and District South areas. The company prides itself on its “legacy proved developed light oil reserves with low annual base decline production and corresponding cash flow.”
The company has also diversified into renewable energy assets, and its subsidiary FutEra Power is advancing a geothermal power project in Swan Hills. Shares of Razor Energy reached their highest point for 2022 so far on March 8, coming in at C$4.14.
2. Kolibri Global Energy (TSX:KEI)
Year-to-date increase: 93.33 percent; current share price: C$0.145
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 early March, the company announced that its total proved reserves had increased by 3 percent over its December 31, 2020, estimate to reach 34.1 million barrels of oil equivalent (boe). Shares of Kolibri Global Energy reached their highest level for 2022 on March 16, coming in at C$0.15.
3. PetroShale (TSXV:PSH)
Year-to-date increase: 92.86 percent; current share price: C$0.81
PetroShale is a pure-play oil and gas producer in North Dakota's section of the Bakken Formation. The company’s US$45 million capital program for 2022 is focused on drilling, completions and tie-ins at its light oil development projects, as well as on optimizations to maximize production efficiency. PetroShale expects that 2022 production will total between 10,500 and 11,000 boe per day, with 85 percent being light oil and natural gas liquids.
At its annual shareholders meeting later this year, the company anticipates a vote to change its name to Lucero Energy. PetroShale saw its share price rise to a year-to-date high of C$0.94 on March 1.
4. Crown Point Energy (TSXV:CWV)
Year-to-date increase: 89.19 percent; current share price: C$0.35
Headquartered in Calgary, Alberta, Crown Point Energy is exploring, developing and producing at petroleum and natural gas properties in three basins in Argentina: the Austral Basin in the province of Tierra del Fuego and the Neuquén and Cuyano basins in the province of Mendoza. The oil and gas junior is generating cash flow.
Crown Point Energy’s capital spending on property and equipment in 2022 is budgeted at US$7.4 million, and includes drilling one horizontal well in the Las Violetas concession and one vertical well in the San Martin structure, as well as completing the construction of an oilfield pipeline to a new delivery point at the Cullen terminal. Capital spending on exploration and evaluation is set at US$2.4 million for this year to drill and complete an exploration well on the CLL exploration permit. Shares hit C$0.38, their highest point so far this year, on March 14.
5. Prairie Provident Resources (TSX:PPR)
Year-to-date increase: 83.33 percent; current share price: C$0.22
Prairie Provident Resources is an oil and gas exploration and development company with conventional operations primarily located on the Western Canadian Sedimentary Basin in Alberta. These operations include the Michichi and Princess properties in Southern Alberta, and the Evi area in the Peace River Arch in Northern Alberta.
Prairie Provident recently released its 2022 fully funded C$18 million capital budget, which is expected to result in average production of between 4,350 and 4,600 boe per day. Based on that, the company expects to achieve annual average production growth that is approximately 5 percent above its 2021 results. Prairie Provident's share price hit a high for the year of C$0.31 on March 8.
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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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