The Globe and Mail reports in its Thursday edition that money manager Chris Kerlow has been buying PrairieSky shares. The Globe's Brenda Bouw writes that Mr. Kerlow is senior portfolio manager at Langsford Wealth Counsel, Canaccord Genuity, in Oakville, Ont., overseeing $1.2-billion in assets. He told The Globe: "PrairieSky Royalty is a stock we bought in June. Our purchase coincided with the first signing of a memorandum of understanding to reopen the Strait of Hormuz. Oil prices came way back into the $70 [U.S.] range and we thought the biggest risk was that deal not going through, so we leaned into our energy trade. As a royalty-based business, which holds an interest in about 10 million acres of mineral title lands across Western Canada, PrairieSky has low capital requirements to generate cash flow. What we love about PrairieSky is that it continues to add more and more third party operators to its program. In the second quarter, it reported 178 wells [on its royalty acreage], up from 117 the year earlier. Funds from operations increased 38 per cent because of those additional operating wells. The company continues to strengthen its balance sheet and its dividend, which currently yields about 3 per cent."