Sequeira Energy Synopsis – January 2019 Newsletter

Following a rough December for Canada’s oil and gas industry, January brought reasons for cautious optimism. WTI prices were up 18% on the month while WCS prices soared by 49%, driven by continued production cuts and a global shortage of heavy oil. Pricing gains were also reflected in the market, as Canadian OFS equities were up nearly 15% compared to a gain of just under 9% for the TSX Composite Index and, surprisingly, almost 8% for the TSX Energy Index. We see this as a sign that markets are beginning to see significant upside in OFS stocks which are still trading at levels comparable to those seen during the worst of the downturn.

Download the Sequeira Energy Synopsis – January 2019