Kolibri (KGEI) production mix is ~73% crude oil and all of its oil hedges are collars. Most of the collars have ceilings in the $80s. Plus it does get good prices for its gas. Big well announcements coming out soon.
Baytex (BTE) production mix is ~70% crude oil and it is getting good prices for its South Texas natural gas.
Riley (REPX) production mix is ~63% crude oil and it trades at less than 50% of my valuation and it pays a nice dividend.
ROK Resources (ROK.V) production mix is ~63% crude oil and the company recently paid off all interesting bearing debt. The CEO will be speaking at our next Houston luncheon on June 19.
Rubellite (RBY.TO) production mix is ~67% heavy oil and it has lots of high-quality running room.
Higher oil prices makes the Duvernay Oil Play Joint Venture between Spartan Delta (SDE.TO) and Journey Energy (JOY.TO) look even better. Spartan Delta is the operator of the JV with 70% working interest. They have some very important well results coming out within a few weeks.
From the High Yield Income Portfolio:
Viper (VNOM): The acquisition of STR now looks even better to me. An incredible growth company with production going from 57,378 Boepd in Q1 2025 to 129,500 Boepd in Q4 2025 with a mix of 52% crude oil, 26% natural gas and 22% NGLs. Plus, it pays good dividends that should be going a lot high after the STR merger closes. The relationship with Diamondback Energy (FANG) justifies an even higher valuation multiple.
Hemisphere (HMENF) is 99.9% heavy oil and a "Screaming Buy" due the potential of the Marsden Polymer Flood.
Surge Energy (SGY.TO) is 87% oil and it pays very nice monthly dividends.
InPlay Oil (IPOOF) is 48% and rising oil prices makes their recent BIG acquisition now look brilliant. It also pays monthly dividends.
Small-Caps that have the most exposure to oil price
Small-Caps that have the most exposure to oil price
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group