Canadian Energy Weekly Edition: #170 Equity and commodity performance September 24, 2018 The S&P TSX Composite Oil & Gas E&P Index was down 1% last week, while the overall market was up 1%. Notable top performers w/w in the Canadian Junior & Intermediate E&P space were YGR, ATH and JOY (Figure 1). Canaccord Genuity Corp. (Canada) Last week, Edmonton Par was up 3% and the heavy crude oil benchmark WCS was down 5% (Figure 6). NYMEX Henry Hub natural gas Anthony Petrucci | Analyst up 8% and the Canadian benchmark, AECO, was up 4% (Figure 9). 1.403.691.7807 With Brent trading near the $80/bbl mark most of last week and closing at a new 4+ year high of $81.20/bbl on Monday, we also saw
[email protected] Colombia’s Vasconia heavy oil blend price move higher, now trading at a $2.44/bbl premium to WTI. We expect this high pricing to John Bereznicki, CFA | Analyst translate into strong cash flows for our Colombian heavy oil producers in Q3 and Q4, including PXT, GTE, FEC and GPRK (Figure 5). 1.403.691.7805
[email protected] Licenses Dennis Fong, P.Eng. | Analyst In our coverage universe, the following wells were licensed last week: BTE licensed 1 Viking well, 1 Basal Mannville well, and 3 1.403.508.3884 Cummings wells; BXE licensed 1 Upper Mannville well; CJ licensed 1 Midale well, and 1 Mannville well; CPG licensed 4 Oungre Evaporite
[email protected] wells, and 2 Bakken wells; HSE licensed 2 Lloydminister wells, 15 Midale wells, 1 Sparky well, 1 Rex well, and 2 Duperow wells; TOG licensed 1 Midale well, and 1 Frobisher Alida well; VET licensed 2 Frobisher wells, 1 Bakken well, 1 Midale Well, and 2 Ellerslie wells; Jenny Xenos, MBA, CFA | Analyst WCP licensed 1 Rush lake well; YGR licensed 1 Cardium well.