Oil price jumped 9% after OPEC announced a deal to cut production, which should propel the TSX oil stocks on our list
SmallCapPower | December 1, 2016: Critics throughout the globe didn’t think that OPEC would be able to reach a deal to cut oil supply and raise global prices. But once they did, the markets reacted with a 9% run up on the oil price from early morning until around 2 pm Eastern time. That being said, with the oil price expected to rise further the TSX oil stocks on our list, which are trading at a P/NAV well below the peer group average of 0.7x, could be set for a big stock-price upswing.
Meg Energy Corp. (TSE:MEG) – $5.90
Oil & Gas Exploration and Production
Meg Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods. The Company has the following commercial SAGD projects: the Christina Lake Project and the Surmont Project. The Christina Lake Project is situated on over 80 square miles of oil sands leases in the southern Athabasca oil sands region of Alberta. MEG owns working interest in the oil sands leases associated with the Christina Lake Project. The Surmont Project comprises over 30 square miles of lands in the southern Athabasca oil sands region of Alberta.
- Market Cap: $1,335.85(mm)
- YTD Price PCT Change: -26.4%
- Net Asset Value – Actual (FY0, Millions, CAD): $3,677.87
- P/NAV: 0.36x
Baytex Energy Corp. (TSE:BTE) – $4.93
Oil & Gas Exploration and Production
Baytex Energy Corp. is engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (Alberta and Saskatchewan) and in the United States (Texas). The Company’s crude oil and natural gas operations are organized into three business units: Lloydminster, Central and United States. Each business unit has a portfolio of mineral leases, operated and non-operated properties and development prospects.
- Market Cap: $1,038.82(mm)
- YTD Price PCT Change: 10.0%
- Net Asset Value – Actual (FY0, Millions, CAD): $2,414.47
- P/NAV: 0.43x
Pengrowth Energy Corp. (TSE:PGF) – $1.71
Oil & Gas Exploration and Production
Pengrowth Energy Corporation is a resource company, which is engaged in the production, development, exploration and acquisition of oil and natural gas assets. The Company owns and operates Lindbergh thermal project, which is located in the Cold Lake area of Alberta and encompasses over 42.5 sections of land. The Company is focused on the Western Canadian Sedimentary Basin. The Company’s conventional oil and gas portfolio includes a contiguous land base in the Greater Olds/Garrington area, encompassing over 480 gross sections of land, with opportunities in the Cardium, Viking and Mannville sands, as well as in the Mississippian carbonate section.
- Market Cap: $936.58(mm)
- YTD Price PCT Change: 67.6%
- Net Asset Value – Actual (FY0, Millions, CAD): $1,765.00
- P/NAV: 0.53x
Northern Blizzard Resources Inc. (TSE:NBZ) – $3.45
Oil & Gas Exploration and Production
Northern Blizzard Resources Inc. is a Canada-based crude oil production and development company focused on maximizing oil recovery from its heavy oil resource base. The Company is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. The Company’s properties include Cactus Lake, Winter, Court, Smiley, Coleville, Cuthbert, Thermal, Westhazel, Hearts Hill, Mantario and Senlac. The Company’s operations, infrastructure and concentrated land position are focused in the Kerrobert and Lloydminster areas of Saskatchewan.
- Market Cap: $418.98(mm)
- YTD Price PCT Change: -12.9%
- Net Asset Value – Actual (FY0, Millions, CAD): $986.68
- P/NAV: 0.42x
RMP Energy Inc. (TSE:RMP) – $0.67
Oil & Gas Exploration and Production
RMP Energy Inc. is a Canada-based independent crude oil and natural gas company engaged in the exploration for, development and production of crude oil, natural gas and natural gas liquids (NGLs) reserves in the Western Canadian Sedimentary Basin within the province of Alberta, Canada. The Company’s areas of operations and focus is located in the Montney light oil fairway at Ante Creek, Waskahigan and Gold Creek in West Central Alberta, with additional Alberta-based operations in Grizzly, Kaybob, Pine Creek, Gilby, the Deep Basin area of Ricinus and its Big Muddy asset base in Southern Saskatchewan.
- Market Cap: $101.34(mm)
- YTD Price PCT Change: -56.2%
- Net Asset Value – Actual (FY0, Millions, CAD): $297.52
- P/NAV: 0.34x
