The oil and gas sector has always been one of the dynamic sectors and for good reason too. In recent times, the global political climate led to significant volatility but presented ample opportunities to investors as well. Here is a look at four oil and gas stocks that could be tracked.

Houston Natural Resources Corporation (OTC:HRNC) - It is a diversified energy company with significant oil and gas interests. Recently Houston Natural Resources Corporation completed the acquisition of a 9.9% stake in Cunningham Energy LLC, with appraised reserves worth $352 million. The company is continuously on the lookout for new opportunities in the new energy and energy transition spaces as it strives to unlock more value for its shareholders.

On June 13, the company came up with an update about its strategy for investing in Special Purpose Acquisition Companies (SPAC). It confirmed that it had picked up an interest in CE Energy Sponsors LLC. CE Energy Sponsors is the sponsor of CE Energy Acquisition Corp (CEAC), which had filed a registration statement for a $100 million special purpose acquisition corporation. CEAC is focused on picking up businesses involved in the energy sector. It is also open to the idea of businesses in renewable energy.

On June 30, Houston Natural Resources Corporation filed a registration statement for registering the shares of Worldwide Diversified Holdings Inc following the spin-off. The shares would only start trading once the registration statement gets the approval of the United States Securities and Exchange Commission.

Meta Materials (NASDAQ:MMAT) is involved in the advanced materials and nanotechnology space. It works on the development of new products and technologies through the use of sustainable science. Advanced materials can make regular items smarter and more sustainable.

On July 5, the company announced that it had appointed a new Chief Product Officer for Authentication and Manager Director of the newly established Banknote and Authentication unit, in the form of Alan Newman. Newman would report directly to the Chief Executive Officer and President of Meta Materials and his appointment would become effective on September 5, 2023.

Baytex Energy Corp (NYSE:BTE) - The energy company is headquartered in Calgary, Alberta, and operates offices in Houston, Texas. It is mainly focused on the development, acquisition, and finally production of crude oil and gas in the Western Canadian Sedimentary Basin and the Eagle Ford. Both those zones are in the United States.

On June 20, Baytex Energy Corp announced that it had completed the acquisition of Ranger Oil Corporation. The company's Chief Executive Officer and President, Eric T Greager, noted that the acquisition was a significant one since it would boost its scale of operations in the Eagle Ford. He went on to add that as a consequence of the transaction, Baytex Energy Corp emerged as a diversified and well-capitalized American exploration and production firm.                              

Ring Energy Inc (NYSEAMERICAN:REI) - The oil and gas exploration, production, and development company is currently focused on developing its assets in the Permian Basin. On June 27 Ring Energy Inc announced that the borrowing base had been reaffirmed at $600 million under the company's revolving credit facility of $1 billion. No changes had been made to the credit facility agreement and the company had also been compliant with all the covenants of the agreement.

The next bank redetermination for the company is scheduled to take place during the fall of this year. The CEO and Chairman of the Board Paul D McKinney noted that the continued support of the bank would help the company in executing its initiatives and strengthening its balance sheet.

Enzolytics Inc (OTC:ENZC) - The company got a major boost on June 30 when the SPAC Sagaliam Acquisition Corp announced that it had agreed to raise the offer for the acquisition of Enzolytics’ business units Virogenetics and Biogenesys.

The offer was raised to $450 million from $250 million. The companies noted that the terms of the non-binding agreement had also been amended accordingly. Last Thursday, Sagaliam also announced that it had exercised its option to extend the closing date of the acquisition to July 23.

On June 26, the company provided an update on the ITV-1 Africa Project of Virogenetics. The ITV-1 immunotherapy treatment that was to be dispensed to volunteers under a fast-track proposal had been completed. The company also delivered the details of the final protocol to the DRC Ministry of Health Department of HIV and Aids for final approval.

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