Insider Watch
Canadian oil and gas insiders buy C$1.3m after results
Whitecap's CEO and CFO add shares as purchase prices fall; buying also reported at Tamarack Valley and PrairieSky
Four senior executives and two directors at three Canadian oil and gas companies bought C$1.32 million of shares between 30 October and 5 November, with repeat purchases at Whitecap Resources and Tamarack Valley made at progressively lower prices.
The 11 market purchases identified by Insider Screener were spread across Whitecap, Tamarack Valley Energy and PrairieSky Royalty. Each company had published its third-quarter results in the preceding days.
At Whitecap Resources, chief executive Grant Fagerheim bought 20,000 shares for C$360,900 between 2 and 5 November. He paid C$18.73 for 10,000 shares on 2 November, followed by 5,000 at C$17.39 on 4 November and another 5,000 at C$17.33 the following day.
The final purchase price was 7.5 per cent below his first of the week. The transactions took his reported direct holding to 3.32 million shares, an increase of about 0.6 per cent.
Chief financial officer Thanh Kang added 8,100 Whitecap shares for C$149,235 on 2 and 4 November, bringing the pair's purchases to C$510,135.
The buying followed Whitecap's 28 October results, which showed quarterly net income of C$326 million and free funds flow, a company-defined measure, of about C$640 million. Whitecap also raised its 2026 production guidance and increased its monthly dividend by approximately 1.5 per cent.
| Company | Buyer | Trade dates | Purchase value |
|---|---|---|---|
| Whitecap Resources | Grant Fagerheim, CEO | 2–5 November | C$360,900 |
| Whitecap Resources | Thanh Kang, CFO | 2–4 November | C$149,235 |
| Tamarack Valley Energy | Kevin Johnston, CFO | 30 October–3 November | C$250,652 |
| Tamarack Valley Energy | Craig Bryksa, director | 3 November | C$130,200 |
| PrairieSky Royalty | Andrew Phillips, CEO | 4 November | C$219,259 |
| PrairieSky Royalty | Margaret McKenzie, director | 5 November | C$209,921 |
At Tamarack Valley Energy, chief financial officer Kevin Johnston bought 18,500 shares for C$250,652 across three trading days. His purchase prices fell from C$14.125 on 30 October to C$13.5879 on 2 November and C$12.99 on 3 November.
The purchases increased his reported direct holding by about 16 per cent to 131,129 shares. Director Craig Bryksa bought a further 10,000 shares at C$13.02 on 3 November, spending C$130,200.
Tamarack's buying comes ahead of its planned combination with Headwater Exploration, expected to close in mid-to-late November. The company reported C$247.7 million of cash provided by operating activities for the third quarter and said it planned a 20 per cent increase in its quarterly dividend following completion of the transaction.
At PrairieSky Royalty, chief executive Andrew Phillips acquired 6,300 shares on 4 November at an average C$34.803, spending C$219,259. His reported direct holding rose about 0.7 per cent to 919,602 shares.
Director Margaret McKenzie bought 6,000 shares the following day at C$34.9868 for C$209,921 through a registered retirement savings plan. PrairieSky, which earns royalties on oil and gas produced from its properties, had reported a 42 per cent increase in quarterly funds from operations to C$127.9 million.
The historical record puts the latest transactions in perspective. Fagerheim also bought Whitecap shares in January, April, June and July. Johnston bought Tamarack shares in September, while Phillips added PrairieSky shares in February, April, July and August.
All three companies have recorded larger monthly purchases during the past two years. The recent buying is a cluster among existing shareholders following results, with the size of the additions varying considerably between buyers.