Raising money has been good for the stock prices of the companies on our list today
SmallCapPower | September 26, 2016: When a company goes to the market to raise capital they are looking for funding to exploit growth opportunities that they have found but don’t have the cash flow on hand to capitalize on. One problem about going to the market is, however, you have to have people willing to buy your stock. Although it has been a tough 2016 so far for the oil and gas sector, the price of oil seems to be recovering slowly, as is investor sentiment in the space. For that reason the companies on our list today were able to raise over $363 million, which resulted in the expansion of their market value by almost 100% on average.
Enerplus Corp. (TSE:ERF) – $8.19
Oil & Gas Exploration and Production
Enerplus Corporation is an energy producer. The Company’s 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. Its Canadian crude oil properties production averaged approximately 18,978 barrels of oil equivalent per day (BOE/day). Its Canadian crude oil portfolio includes Mannville producers Medicine Hat Glauconitic, Brooks and Giltedge, as well as Progress (a Boundary Lake producer), all of which are located in Alberta, and Freda Lake/Neptune, located in Saskatchewan and producing from the Mississippian Ratcliffe.
- Market Cap: $1,969.56 (mm)
- Capital Raised YTD: $220.4 (mm)
- Price Change % YTD: 72.4%
Bonavista Energy Corp. (TSE:BNP) – $3.99
Oil & Gas Exploration and Production
Bonavista Energy Corporation is a resource company engaged in the acquisition, exploration, development and production of oil and natural gas assets. The Company’s West Central Core Area is characterized by natural gas and light oil resources. West Central Core Area is located within the Western Canadian Sedimentary Basin (WCSB) between Calgary and Drayton Valley, Alberta. Its Deep Basin Core Area contains multiple vertically stacked oil and natural gas reservoirs. Its Deep Basin Core Area is located within the WCSB between Edmonton and Fox Creek, Alberta. It has assembled a land position of approximately 295,110 net acres and identified over 300 horizontal drilling locations. Its assets are located in Alberta, British Columbia and Saskatchewan.
- Market Cap: $1,044.82 (mm)
- Capital Raised YTD: $110.05 (mm)
- Price Change % YTD: 119.2%
Perpetual Energy Inc. (TSE:PMT) – $1.81
Oil & Gas Exploration and Production
Perpetual Energy Inc. (Perpetual) is a Canada-based oil and natural gas exploration and production company. The Company is engaged in finding, developing, producing and marketing natural gas, natural gas liquids (NGL), oil and bitumen. Perpetual’s business consists of operations in Alberta focused on exploring and developing the natural gas and NGL resource opportunities in the deep basin in west central Alberta; the exploration for and extraction of heavy oil in eastern Alberta; the development and production of shallow natural gas from mature producing regions in eastern Alberta; bitumen opportunities in northeast Alberta, and interest in a commercial gas storage business through the operation and ownership in a gas storage facility at Warwick in east central Alberta.
- Market Cap: $95.10 (mm)
- Capital Raised YTD: $22.14 (mm)
- Price Change % YTD: 81%
Yangarra Resources Ltd. (TSE:YGR) – $1.20
Oil & Gas Exploration and Production
Yangarra Resources Ltd. is an exploration focused oil and natural gas company engaged in production, exploration and development of resource properties in the Central Alberta, Medicine Hat and Jaslan areas of Alberta. It produces oil and gas assets of approximately 2,390 barrel of oil equivalent per day (boe/d) of oil, natural gas and natural gas liquids (NGLs). It holds working interests ranging in various sections in the Central Alberta Area with Glauconitic (over 47 gross (26 net) sections), Cardium (over 45 gross (33 net) sections), Viking, Second White Specs (over 45 gross (29 net) sections), Rock Creek and Ellerslie zones.
- Market Cap: $94.59 (mm)
- Capital Raised YTD: $10.75 (mm)
- Price Change % YTD: 118.2%
