Questerre Energy (TSX:QEC)
Cardinal Energy (TSX:CJ)
Ovintiv (TSX:OVV)
Meg Energy (TSX:MEG)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Questerre Energy
Questerre Energy is engaged in the acquisition, exploration and development of oil and gas projects, specifically non-conventional projects such as tight oil, oil shale, shale oil and shale gas. Questerre holds assets in Jordan, as well as in the Canadian provinces of Alberta, Saskatchewan, Manitoba and Quebec.
Last Tuesday (March 2), the company said it has commissioned a report on producing hydrogen, including blue hydrogen, using its zero emission natural gas in Quebec. Following the news, Questerre’s share price jumped 31.58 percent to end the week at C$0.25.
Last week’s top-gaining stocks on the TSX were NioCorp, I3 Energy, Marimaca Copper, Baytex Energy and Obsidian Energy.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trending down early on Friday (February 26) at 18,148.71. It ultimately closed the week at 18,040.02.
On Thursday (February 25), the index posted its worst day in nearly a month as weaker oil prices put pressure on energy stocks.
By the end of the week, gold and silver prices were down on the back of a stronger US dollar, while copper was continuing its upward trend.
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NioCorp Developments (TSX:NB)
Global oil demand is under pressure, creating concerns that the world has reached peak oil.
In 2019, global oil demand totaled about 100 million barrels per day, double 1970 levels. Over the past 50 years, the global oil market has cycled through several highs and lows in the oil price. The most recent major low was in response to COVID-19 lockdowns and cutbacks to air travel around the world.
By the fall of 2020, continued downward pressure on oil demand led the International Energy Agency (IEA) to issue a dire report about the state of the global oil industry.
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Paramount Resources (TSX:POU)
MEG Energy (TSX:MEG)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Athabasca Oil
Alberta-based energy company Athabasca Oil is focused on the development of thermal and light oil assets. Situated in Alberta’s Western Canadian Sedimentary Basin, the company has a significant land base of extensive, high-quality resources.
Athabasca Oil did not release any company news last week, but still saw its share price increase 73.33 percent to reach C$0.39.
2. NextSource Materials
Toronto-based NextSource Materials is a mine development company in the final stage of developing its 100 percent owned Molo graphite project in Southern Madagascar. The Molo project is a fully permitted, feasibility-stage project and is the only project with SuperFlake graphite.
Crown Point Energy (TSXV:CWV)
Centaurus Energy (TSXV:CTA)
Cypress Development (TSXV:CYP)
Petrofrontier (TSXV:PFC)
Nouveau Monde Graphite (TSXV:NOU)
Here’s a look at what may have moved their share prices over the last five days.
1. Crown Point Energy
Oil and gas junior Crown Point Energy boasts cash flow from production and a portfolio that includes assets in two of Argentina’s largest producing basins.
Last Thursday (January 7), Crown Point and Centaurus Energy together proposed a business combination through a non-binding term sheet. According to the companies, the resulting new entity would be an Argentina-focused oil and gas exploration company with diverse operations and strong financials.