Top 5 Oil & Gas Stocks on the TSX and TSXV in 2022
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Oil and gas prices have risen in 2022 as demand returns to pre-COVID-19 levels and the Russian-Ukrainian war rages on.
Despite policy changes by governments seeking to shift to cleaner energy sources, oil and natural gas are expected to continue to play an important role in the global energy mix.
Geopolitical uncertainty will continue to weigh on oil and gas prices through 2022 and beyond, but analysts expect healthy demand levels for oil and natural gas. The top five oil and gas stocks on the TSX and TSXV outlined below have shown significant growth in 2022 on the back of rising oil and gas prices.
All annual stock performance and price data was obtained on March 16, 2022, using TradingView’s stock filter. All major listed oil and gas stocks had market capitalizations above C$10 million at that time.
1. Razor Energy (TSXV:RZE)
Increase since the beginning of the year: 271.43%; current stock 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 proven proven light oil reserves with low declining base annual production and corresponding cash flow”.
The company has also diversified into renewable energy assets. Its subsidiary FutEra Power is advancing a geothermal energy project in Swan Hills, Alberta. Shares of Razor Energy hit their 2022 high on March 8 at C$4.14 per share.
2.Kolibri Global Energy (TSX:KEI)
Year-to-date increase: 93.33%; current stock price: C$0.145
Kolibri Global Energy is an international energy company focused on the research and operation of energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. Its flagship property is the Tishomingo Shale oil property in the Ardmore Basin in Oklahoma.
In early March 2022, the company announced that its total proved reserves had increased by 3% from its December 31, 2020 estimate to 34.1 million barrels of oil equivalent (boe). Shares of Kolibri Global Energy hit their 2022 high on March 16 at C$0.15.
3. PetroShale (TSXV:PSH)
Year-to-date increase: 92.86%; current share price: C$0.81
PetroShale is a producer of pure oil and gas in the North Dakota 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 optimizations to maximize production efficiency. PetroShale expects 2022 production to total between 10,500 and 11,000 boe per day, 85% of which will be light oil and natural gas liquids.
At the annual shareholders’ meeting later this year, the company is planning a vote to change the company’s name to Lucero Energy. The company saw its stock price climb 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%; current stock price: C$0.35
Based in Calgary, Alberta, Crown Point Energy explores, develops and produces oil and gas properties in three production 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 junior oil and gas company generates cash flow from production.
Crown Point Energy’s capital expenditures for property, plant and equipment in 2022 are budgeted at US$7.4 million and include the drilling of a horizontal well in the Las Violetas concession and a vertical well in the San Martin structure, as well as the completion of the construction of an oil pipeline to a new delivery point at the Cullen terminal operated by Total Austral. The company has set its exploration and evaluation capital expenditure for 2022 at US$2.4 million to drill and complete an exploration well on the CLL exploration permit. Its stock price hit C$0.38, its highest level so far this year, on March 14.
5. Prairie Provident Resources (TSX:PPR)
Increase since the beginning of the year: 83.33%; current share price: C$0.22
Prairie Provident Resources is an oil and gas exploration and development company with conventional operations primarily located in the Western Canada Sedimentary Basin in Alberta. These activities include the Michichi and Princess properties in southern Alberta and the Evi area located in the Peace River Arch in northern Alberta.
Prairie Provident Resources recently released its fully funded C$18 million capital budget for 2022, which is expected to result in average production of between 4,350 and 4,600 boe per day. Based on this, the company expects to achieve average annual production growth of around 5% above its 2021 results. The company’s share price has reached a high of C$0.31 March 8.
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Securities Disclosure: I, Melissa Pistilli, have no direct investment interests in any of the companies mentioned in this article.
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