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.

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Most Recent Market Commentary

January 2024

During January, 18 of the 47 publicly traded TSX E&P companies (with assets focused predominately in Canada) rose in value; one company (Pieridae Energy Limited) was flat and the remaining 28 companies fell month-over-month. Of those companies that had an increase in their share price, the rise ranged from 0.35% (Topaz Energy Corp.) to Questerre Energy Corporation’s 33.33% jump. On a combined basis, the TSX E&P group had an average decrease of 1.01% and median drop of 1.30%.

As for the companies listed on the TSX Venture Exchange, seven companies had an increase in their share price, five were flat and the remaining 10 companies experienced a drop. Overall, the group had an average fall of 3.65%, while on a median basis the movement was flat.

Oil prices climbed in January, with WTI crude oil closing up 6.5% to USD $75.73/bbl while Edmonton Par rose 8.59% and WCS jumped 12.0%.

US natural gas prices experienced continued weakness in January, falling 12.55% to $2.08/MMbtu while AECO jumped by 17.95% to $1.67/MMbtu.

In January 2024, there were a couple M&A transactions announced in the Canadian oil & natural gas sector.

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