During June, 10 of the 48 publicly traded TSX E&P companies (with assets focused predominately in Canada) rose in value while the remaining 38 companies fell month-over-month. Of those companies that had an increase in their share price, the rise ranged from 0.15% (Kiwetinohk Energy Corp.) to Greenfire Resources Ltd.’ s 12.80% climb. On a combined basis, the TSX E&P group had an average decrease of4.03% and median fall of 4.97%.

As for the companies listed on the TSX Venture Exchange, six companies had an increase in their share price, four were flat and the remaining 11 companies experienced a drop. Overall, the group had an average decrease of 4.90% and a median fall of 2.86%.

Oil prices edged higher month-over-month. WTI rose 5.29% to USD $81.54/bbl while Edmonton Par climbed 4.69% to USD $76.94/bbl and WCS ended the month up 1.24% at USD $65.51/bbl; the discount on WCS widened.

NYMEX natural gas prices edged up 3.17% to USD $2.60/MMBtu while AECO fell 42.31% to $0.68/MMBtu on the usual summer weakness.

In June 2024, there were a number of M&A transactions announced in the Canadian oil & natural gas sector.

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