Oil Stocks – 2011 Top Performing Intermediate High Yield Canadian Oil and Gas Stocks

Through our detailed analysis of all the mid cap Canadian oil and gas stocks with higher yileds which are traded in the North American stock markets we found that Peyto was the top performer with a total return of 36%. The worst performing mid cap Canadian oil and gas stock was Perpetual with a total return of -65%. On a cash flow basis Crescent Point delivered the strongest cash flow per share growth at ~25%. In analyzing operating costs of the mid cap Canadian oil and gas stocks, Peyto had the lowest operating costs at approximately $2/boe whereas PennWest had the highest operating costs at around $17.40/boe. In regards to finding and development costs, Progress delivered the lowest FD&A costs at $9.14/boe while Vermillion had the highest at $38.43/boe. In looking at the FD&A costs one must relaize that Vermillion’s cost was on Cardium oil which has a much higher netback than Progress’s natural gas production. This results in us analyzing the recycle ratios of the Canadian mid cap oil stocks and ARC delivered the highest recycle ratio at 2.4x. The mid cap Canadian energy stocks outperformed the broader energy index by approximately 8% .