WTI crude oil prices fell about 3% on October 19, 2015, on concerns about slower growth in China as well as the potential for Iranian oil returning to global markets. Canadians are also voting in a federal election on October 19. Both the Liberal and Conservative parties have pledged their support for the Keystone XL project, a project that would carry oil from Alberta to refineries on the U.S. gulf coast. If the polls are accurate the Liberals will form the next government, but even if the Conservatives manage to hold onto power the oil and gas stocks on our list could get a boost provided there is clear winner.
MEG Energy Corp (TSX: MEG) – $10.49
Oil & Gas Exploration and Production
MEG Energy Corp. (MEG) is an oil sands company focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is developing enhanced oil recovery projects that utilize steam?assisted gravity drainage (SAGD) extraction methods. The Company has two commercial SAGD projects: the Christina Lake Project and the Surmont Project.
- Market Cap: $2,667,595,804
- Revenue (LTM): $2,342,852,000.00
- Operating Income (LTM): $190,952,000
- YTD Price Change: -39.5%
Penn West Petroleum Ltd (TSX: PWT) – $1.42
Oil & Gas Exploration and Production
Penn West Petroleum Ltd. (Penn West) is a Canada-based senior exploration and production company that operates to explore for, develop and hold interests in oil and natural gas properties and related production infrastructure in the Western Canada sedimentary basin directly and through investments in securities of subsidiaries holding such interests. The Company’s portfolio of properties includes both unitized and non-unitized oil and natural gas production.
- Market Cap: $745,859,487
- Revenue (LTM): $1,593,000,000.00
- Operating Income (LTM): -$1,777,000,000
- YTD Price Change: -39.1%
Pengrowth Energy Corp. (TSX: PGF) – $1.29
Oil & Gas Exploration and Production
Pengrowth Energy Corporation is engaged in the production, development, exploration and acquisition of oil and natural gas assets. The Company is focused on further developing the Lindbergh Thermal Project, located in East Central Alberta, near Cold Lake.
- Market Cap: $751,564,660
- Revenue (LTM): $1,500,800,000.00
- Operating Income (LTM): -$520,400,000
- YTD Price Change: -62.0%
Baytex Energy Corp (TSX: BTE) – $5.19
Oil & Gas Exploration and Production
Baytex Energy Corp. (Baytex), through its subsidiaries, is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (primarily in the provinces of Alberta and Saskatchewan) and in the United States (primarily in the state of Texas). The Company’s crude oil and natural gas operations are organized into three business units: Central; Lloydminster; and United States.
- Market Cap: $1,230,805,594
- Revenue (LTM): $1,351,300,000.00
- Operating Income (LTM): -$378,307,000
- YTD Price Change: -69.3%
Enerplus Corp (TSX: ERF) – $6.96
Oil & Gas Exploration and Production
Enerplus Corporation is a Canada-based energy producer. Its capital program is focused on the development of its crude oil and natural gas core areas of operation, which includes its North Dakota and Montana crude oil assets in the Williston Basin, and its natural gas interests in northeast Pennsylvania. The Company’s oil and natural gas property interests are located in western Canada in the provinces of Alberta, British Columbia and Saskatchewan, and in the United States, primarily in the states of Montana, North Dakota, Pennsylvania and West Virginia.
- Market Cap: $1,563,177,983
- Revenue (LTM): $1,160,219,000.00
- Operating Income (LTM): -$794,676,000
- YTD Price Change: -32.4%
