At No. 13, Calgary-headquartered Birchcliff Energy Ltd. made a marked climb from the “depths of despair” in March 2020, the early days of the COVID-19 pandemic when the company’s share price fell to about 60 cents. This year, the stock reached about $12, president and chief operating officer Chris Carlsen told Postmedia.
Share prices in the sector had taken a hit due to low oil prices in the decade leading up to the pandemic, and fell even lower in early 2020 with reduced demand.Article content Oil prices have since bounced back, and hit as high as US$120 per barrel in June, in part due to a general lifting of COVID-19 restrictions as well as Russia’s war with Ukraine.
“I think it speaks to the credibility of that two-tier ecosystem, and how it nurtures, develops and graduates companies to the big board,” he said.
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