Jerome Hass, portfolio manager at Lightwater Partners, shares his outlook on Canadian Oil &amp; Gas Stocks.

Jerome Hass' Market Outlook: Canadian Oil & Gas Stocks (Aug. 5, 2026)

Market Call

Thanks for joining us today on Market Call, I'm Mirella Fernandez. Jerome Haas with us on the show, Portfolio Manager at Light Water Partners. He'll take your questions on Canadian oil and gas stocks. Here's how to reach us. 1-855-326-6266. You can also email your questions in marketcall at bnnbloomberg.ca. Good to see you. Thanks for coming in. Thanks for having me.

West Texas at $75 US a barrel. Last I looked, you say we're in the early stages of a bull run for gas and for oil. What's your belief behind that? Well, we sort of have four main tenets to our thesis on this. And we actually, you know, I know there's a lot of people that focus on what's happening in the Iran-Iran war right now,

which is clearly having a big impact on the price of oil up and down 5% based upon one of Trump's tweets or some more volleys of missiles from the Iranians. When you look at the longer term picture, there's a couple things. First is that there's been underinvestment for the last 10-15 years globally in oil and gas,

and in particular exploration and development. So as a consequence of that, the reserve life of most of the global players is lower, much lower than the long term averages. And so they need to increase their exploration and development, which bodes well for the supply demand balance going forward. The second is that the oil patch in Western Canada has really found religion in terms of fiscal discipline.

Gone are the bad old days when they would spend, when oil price went up, they would increase their capex budgets and we'd have boom and bust cycles. Instead now we're seeing a lot more fiscal discipline.

Jerome Hass' Market Outlook: Canadian Oil & Gas Stocks (Aug. 5, 2026)

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Jerome Hass' Market Outlook: Canadian Oil & Gas Stocks (Aug. 5, 2026)

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.