The TSX oil stocks on our list have reserves far exceeding their current production
SmallCapPower | March 12, 2018: The oil sector has had a slight correction in February as the S&P Global Oil Index has declined 6% YTD. The companies we’ve identified today hold substantial reserves relative to current production, averaging 119 years of production at current production levels, while their peers average 30 years. If oil prices rally, the TSX oil stocks on our list could potentially expand production at their current operations.
Bonavista Energy Corp. (TSX:BNP) – $1.16
Oil & Gas Exploration and Production
Bonavista Energy Corporation is a Calgary-based oil & gas company. 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. Infrastructure in West Central Core Area includes over 2,800 kilometers of pipelines and approximately 40 facilities. The Deep Basin Core Area contains multiple vertically stacked oil and natural gas reservoirs.
- Market Cap: $307.5 Million
- YTD Total Return: -48.4%
- Daily Oil Production: 2,415 boe/d
- Total Reserves / Yearly Production : 141.7 years
- Peer Average Total Reserves / Yearly Production: 30.2 years
BNK Petroleum Inc. (TSX:BKX) – $0.46
Oil & Gas Exploration and Production
Headquartered in California, BNK Petroleum is an oil & gas producer with properties concentrated in the Ardmore basin of Oklahoma. The Company leverages its technical and operational expertise to identify and acquire unconventional oil projects. The Company operates three wells in its Tishomingo field, and expects to drill several more during 2018.
- Market Cap: $105.7 Million
- YTD Total Return: -1.1%
- Daily Oil Production: 622 boe/d
- Total Reserves / Yearly Production : 110.6 years
- Peer Average Total Reserves / Yearly Production: 30.2 years
Crew Energy Inc. (TSX:CR) – $1.65
Oil & Gas Exploration and Production
Crew Energy is a Canada-based oil and gas company operating in Western Canada. The Company’s Montney asset in northern BC represents ~1/3 of the province’s natural gas reserves in a siltstone formation, while its Lloydminster asset in Alberta/Saskatchewan is considered a more conventional heavy oil/natural gas asset. The Company is guided to produce ~2,400 boe/d in 2018.
- Market Cap: $246.1 Million
- YTD Total Return: -47.6%
- Daily Oil Production: 2,331 boe/d
- Total Reserves / Yearly Production: 105.5 years
- Peer Average Total Reserves / Yearly Production: 30.2 years
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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