Best Oil & Gas E&P Stocks in Canada for 2026
Top-ranked Oil & Gas E&P stocks in Canada. Upstream E&P operators earn on production volume net of lifting costs; mid-cycle commodity assumptions drive Valuation while Health leverage gates the field.
Oil and Gas E&P (upstream operators of all sizes) earn revenue on production volume at realised prices net of lifting costs. The Valuation pillar uses EV/EBITDA against mid-cycle commodity prices; the Health pillar (net debt to EBITDA through the trough) is the gating factor for composite ranking across the cycle.
Data as of (updated daily)
Top 20 Oil & Gas E&P stocks in Canada by composite score
| # | Ticker | Name | Composite |
|---|---|---|---|
| 1 | VLE.TO | Valeura Energy Inc | 75.9 |
| 2 | PXT.TO | Parex Resources Inc | 74.4 |
| 3 | WCP.TO | Whitecap Resources Inc. | 68.3 |
| 4 | SGY.TO | Surge Energy Inc. | 64.6 |
| 5 | TNZ.TO | Tenaz Energy Corp. | 63.7 |
| 6 | POU.TO | Paramount Resources Ltd. | 62.4 |
| 7 | HWX.TO | Headwater Exploration Inc | 62.2 |
| 8 | CNQ.TO | Canadian Natural Resources Ltd | 59.0 |
| 9 | ARX.TO | ARC Resources Ltd. | 59.0 |
| 10 | ATH.TO | Athabasca Oil Corp | 56.0 |
| 11 | BIR.TO | Birchcliff Energy Ltd. | 55.4 |
| 12 | CJ.TO | Cardinal Energy Ltd | 54.8 |
| 13 | BTE.TO | Baytex Energy Corp | 54.1 |
| 14 | YGR.TO | Yangarra Resources Ltd | 53.0 |
| 15 | TVE.TO | Tamarack Valley Energy Ltd | 52.2 |
| 16 | AAV.TO | Advantage Oil & Gas Ltd. | 52.1 |
| 17 | FEC.TO | Frontera Energy Corp | 52.1 |
| 18 | SCR.TO | Strathcona Resources Ltd. | 52.0 |
| 19 | KEI.TO | Kolibri Global Energy Inc | 52.0 |
| 20 | TOU.TO | Tourmaline Oil Corp. | 51.1 |
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Methodology: How we score stocks. Data refreshed nightly around 03:30 ET. This page lists the top 20 by composite score within the Oil & Gas E&P industry, Canada. Use the screener for the full ranked list.