If you look at indicators like the price of oil, Alberta's energy sector should be in recovery mode, but an industry insider says we're not "out of the woods" quite yet.

Despite rising oil prices, which have stabilized at the highest level since 2014, some say that we shouldn’t be overly cautious about the oil and gas market’s recovery.

In fact, Stuart Parnell, managing director at Stormont Energy Advisors, says the industry is still facing some serious challenges.