Market Commentary

Recap of Industry Activity

Our monthly review of market activity and trends, M&A transactions and oil and gas related news with a summary of key themes and observations. Upon request, Trimble Energy Group can provide clients with custom research and special reports with an array of detailed comparable analysis of various segments.

Please SUBSCRIBE today and we will send the reports directly to your email inbox.

Most Recent Market Commentary

August 2023

During August, 31 of the 48 publicly traded TSX E&P companies (with assets focused predominately in Canada) rose in value, while two companies were flat and the remaining 15 companies fell month-over-month. Of those companies that had an increase in their share price, the rise ranged from 0.24% (Surge Energy Inc.) to Hammerhead Energy Inc.’s 24.24% climb. On a combined basis, the TSX E&P group had an average increase of 1.12% and a 2.03% median rise in August.

As for the companies listed on the TSX Venture Exchange, nine companies had an increase in their share price, four were flat and the remaining nine companies experienced a drop. Overall, the group was flat month over month. Resolute Resources Ltd. commenced trading on the TSX-V under the ticker RRL.      

By the end of August, WTI oil was up 2.42% during the month, closing at USD $83.73/bbl while Edmonton Par rose 1.49% to USD $80.48/bbl and WCS slipped 0.60% to USD $66.02/bbl.

NYMEX natural gas climbed 8.43% to USD $2.83/MMbtu in August. AECO, on the other hand, fell 1.18% to USD $2.52/MMbtu.

In August 2023, there were a number of M&A transactions announced in the Canadian oil & natural gas sector.

The largest deal in August involved Strathcona Resources Ltd. and Pipestone Energy Corp. which announced that they have entered into a definitive agreement pursuant to which Strathcona will acquire all of the issued and outstanding common shares of Pipestone for 100% share consideration and that Strathcona will become a public reporting issuer in Canada.

Join our List, Stay Informed

Our monthly industry report on acquisitions, divestitures, market commentary and special news and reports to keep you informed.

Published Market Commentaries

Interested in More data?

If you are interested in our earlier reports, our special reports or would like to commission Trimble to provide custom research please contact our team.