Read our most recent public insight report exploring NuVista's inventory struggles at Wapiti

Canada's premiere upstream boutique.

HTM is relentlessly focused on delivering more thoughtful, more timely, and more complete appraisals of emerging opportunities in the Canadian oil and gas sector. Our work goes beyond simply numbers and opinions. We process billions of data points above and below the surface, using every single one to identify signal and calculate outcomes; providing clients with a curated understanding of Western Canada's dynamic upstream industry.

Our geology-first approach marries a technical understanding of upstream assets with advanced data analytics to produce industry research unlike anything previously offered. We use this foundational work to aid clients in generating outsized returns across cycles in the public and private markets through our research and advisory services.

We are pleased to offer abbreviated versions of select past papers in our Public Insights portal, and shorter-term activity commentary via our Weekly Pulse page. We also have made available a sample of our WCSB Atlas, a comprehensive maps package that can be accessed below.

Our rigorous process delivers unmatched outcomes.

Our research begins with the rock — and considers every single data point that's accessible. We go beyond using existing well data to forecast production declines. We correlate every meter of wireline log, every core sample, well test, source rock analysis, and other subsurface datum to produce a geologic mesh of the plays and assets we cover. This means we're better at forecasting how existing production will behave; and when there's no production data to work with, our models can predict what's likely to happen given the set of geologic parameters we've assigned.

We monitor operators just as carefully. Using satellite photos, infrastructure plans, frac water permitting, and any other regulatory filings to track and infer activity. Our activity tracking together with our geologic and financial models allow us to confidently know what's likely to happen, and when. While others wait for hard data and guidance, our clients benefit from having an early, high-confidence view.

Our uncompromisingly asset-first perspective on upstream opportunities is blindingly simple and foundational to our analysis. If there is data that can be considered, it will be considered. That's how we operate and what gives us an edge. Our work then focuses on inventory quality and geological potential across Western Canada, while remaining in tune with the financial markets. Even though we have access to all the same data as our peers, we use it better to stay ahead of the markets and deliver more accurate, more careful analysis of what's happening across Canada's upstream sector.

See how our meticulous asset work and idiosyncratic thinking come together to generate long-term alpha.