The Globe and Mail reports in its Saturday, Dec. 20, edition that the recent sell-off in energy markets has paused and companies such as Ivanhoe Energy and Niko Resources are now forced to find "strategic alternatives" to stay afloat in the new price environment. The Globe's Scott Barlow writes in the Strategy Lab column that now is a good time to comb through debt levels in the energy sector to find companies with the best chance of weathering the low-energy price storm. Mr. Barlow looked for companies with strong net debt to EBITDA ratios. The Globe writer says there are a number of smaller companies with low debt and expected earnings growth that warrant further study. Gran Tierra Energy, Pason Systems, Kelt Exploration, TransGlobe Energy and Canyon Services Group are the top five companies on Mr. Barlow's list. It should be noted, he says, that Pason and Canyon Services will be hit hard by an expected reduction in drilling activity next year. Gran Tierra looks attractively valued at first glance but Kelt is trading at more than 100 times trailing earnings. The Globe says substantial fundamental research should be included ahead of any buy or sell decision.