Oil is enduring one of its worse bear markets in recent memory, as the WTI price has slid to the mid-$40 level. Much of this is in reaction to China’s economic slowdown. Operational profitability should be an important consideration for investors looking to play some of these beaten-down names, and the companies on our list today could fit the bill.
Earthstone Energy Inc. (NYSE MKT: ESTE) – $16.60
Oil & Gas Exploration and Production
Earthstone Energy, Inc. is an independent oil and gas exploration and production company engaged primarily in the exploration, development and production of oil and natural gas properties. Its operating activities are concentrated in the North Dakota and Montana portions of the Williston Basin and south Texas.
- Market Cap: $301,854,131
- Revenue (LFQ): $20,901,190
- Operating Income (LFQ): $350,997
- Total Debt (LFQ): $13,978,678
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Evolution Petroleum Corp. (NYSE MKT: EPM) – $5.98
Oil & Gas Exploration and Production
Evolution Petroleum Corporation is a petroleum company that is engaged in the acquisition, exploitation and development of properties for the production of crude oil and natural gas, onshore in the United States. The Company focuses on applying artificial lift technology called GARP (Gas Assisted Rod Pump) for recovering incremental oil and gas from existing wells. Its projects include Delhi Field, Giddings Field, Lopez Field and Mississippi Lime.
- Market Cap: $246,248,049
- Revenue (LFQ): $11,321,443
- Operating Income (LFQ): $4,165,174
- Total Debt (LFQ): $0
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Parex Resources Inc. (TSX: PXT) – $9.05
Oil & Gas Exploration and Production
Parex Resources Inc. (Parex) is a Canadian-based exploration company that is engaged in the exploration, development, production and marketing of oil and natural gas in South America. Parex has operations in Colombia, Trinidad & Tobago and Canada. The Company’s crude oil reserves in Colombia are located in the Llanos basin.
- Market Cap: $1,394,501,100
- Revenue (LFQ): $179,545,634
- Operating Income (LFQ): $18,611,590
- Total Debt (LFQ): $0
Granite Oil Corp. (TSX: GXO) – $7.69
Oil & Gas Exploration and Production
Granite Oil Corp., formerly DeeThree Exploration Ltd, is a Canada-based oil company focused on the exploration and development of the Alberta Bakken enhanced oil recovery (EOR) project located in the Ferguson area of southern Alberta. The Company’s Upper Bakken area overlies both of the Alberta Bakken’s shale intervals.
- Market Cap: $226,045,613
- Revenue (LFQ): $24,763,000
- Operating Income (LFQ): $151,530,000
- Total Debt (LFQ): $28,190,000
Orca Exploration Group Inc. (TSXV: ORC.B) – $3.15
Oil & Gas Exploration and Production
Orca Exploration Group Inc., a Tanzania-based company, is engaged in hydrocarbon exploration, development and supply of natural gas in Tanzania and oil and gas exploration in Italy. The Company operates the 879 Bcf Songo natural gas field under a Production Sharing Agreement (PSA) with the Tanzania Petroleum Development Corporation (TDPC).
- Market Cap: $108,025,984
- Revenue (LFQ): $15,679,952
- Operating Income (LFQ): $7,294,744
- Total Debt (LFQ): $0
