During January, only 12 of the 46 publicly traded TSX E&P companies (with assets focused predominately in Canada) rose in value, while two were flat and the remaining 32 companies fell month-over-month. Of those companies that had an increase in their share price, the rise ranged from 0.97% (MEG Energy Corp.) to International Petroleum Corporation’s 12.49% increase to $18.91/share. On a combined basis, the TSX E&P group had an average slide of 2.40% and a median drop of 2.39%. During January, Canadian energy stocks were impacted by the threat of tariffs by US President Trump.

As for the companies listed on the TSX Venture Exchange, twelve companies were in the green month-over-month, three were flat and the remaining six companies suffered a drop. Overall, the group had an average increase of 13.67% and a median rise of 2.33%.

WTI crude oil prices rose in January, increasing 2.45% month-over-month, ending January 2025 at USD $73.72/bbl; WTI averaged USD $75.10/bbl breaching the USD $68.00 – $72.00/bbl range for the previous two months. Edmonton Par closed up 3.15% at USD $66.78/bbl while WCS slipped 0.11% to USD $57.00/bbl.

NYMEX natural gas prices decreased 13.99% month-over-month to USD $3.02/MMBtu while AECO fell 8.43% to $1.87/MMBtu; NYMEX averaged USD $3.72/MMbtu while AECO averaged $2.03/MMBtu during the month.

In January 2025, there were a number of upstream M&A transactions announced in the Canadian oil & natural gas sector.

Canadian Natural Resources Limited announced that pursuant to a 2017 agreement with Shell Canada Limited, the two companies entered into an ….

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