Oil and Gas

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Last week's top-gaining mining and energy stocks on the TSX were Mawson Gold, Perpetual Energy, Obsidian Energy, Athabasca Oil and Valeura Energy.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) had ups and downs last week, but ultimately closed at 20,793.42, lower than its Monday (May 30) starting point of 20.835.61.

In focus was a hike from the Bank of Canada that took the country's benchmark interest rate up to 1.5 percent. The central bank has now increased the rate by half a percentage point twice in a row.

The energy industry was one of the few sectors that stayed in the green, and many of the five TSX-listed mining stocks that saw the biggest gains last week are focused on oil and gas.

The companies that rose the most are as follows:

  • Mawson Gold (TSX:MAW)
  • Perpetual Energy (TSX:PMT)
  • Obsidian Energy (TSX:OBE)
  • Athabasca Oil (TSX:ATH)
  • Valeura Energy (TSX:VLE)

Here’s a look at those stocks and the factors that moved their share prices last week.

1. Mawson Gold

Gold explorer and developer Mawson Gold is focused on Finland and Sweden. Its flagship property is the Finland-based Rajapalot gold-cobalt project; its other assets include an option to earn up to an 85 percent stake in the Skelleftea gold project in Sweden, plus a 60.3 percent ownership interest in Southern Cross Gold (ASX:SXG).

Last Monday, Southern Cross reported an "outstanding drill result" of 119.2 meters at 3.9 grams per tonne gold equivalent from its Sunday Creek property in Victoria, Australia, saying the area will be prioritized in follow-up drilling. Mawson's share price rose 29.63 percent on the news to close at C$0.175.

2. Perpetual Energy

Perpetual Energy has liquids-rich conventional natural gas assets in West-Central Alberta's deep basin, plus heavy crude oil and shallow conventional natural gas properties in the eastern part of the province. The company's portfolio also includes undeveloped bitumen leases in Northern Alberta.

There was no news from Perpetual last week, but its share price rose 22.06 percent to hit C$1.66.

3. Obsidian Energy

Alberta-centric Obsidian Energy describes itself as an intermediate-sized producer of oil and gas, with operations producing about 25,000 barrels of oil equivalent on a daily basis.

Last Tuesday (May 31), the company announced that the revolving period of its syndicated credit facility has been extended to July 15 in order to accommodate debt refinancing timing. Obisidian also said it has restarted development drilling at its Viking play. Shares were up 20.6 percent last week to close at C$14.52.

4. Athabasca Oil

Intermediate producer Athabasca Oil has honed its efforts on thermal and light oil assets. The company operates in Alberta’s Western Canadian Sedimentary Basin, focusing on active plays such as Montney and Duvernay.

There was no fresh news from Athabasca Oil last week, but its share price jumped 19.53 percent to reach C$3.06.

5. Valeura Energy

Upstream oil and gas company Valeura Energy is working to explore, develop and produce at petroleum and natural gas assets in Turkey; it is also growing its presence in Southeast Asia via mergers and acquisitions.

Valeura's share price rose 16.98 percent last week, finishing at C$0.62, although the company did not release any news during the period.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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


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