After what's happened in the past year, it's evident that most of Canada's energy companies are very risky. Many have high debt levels, or big growth projects, or high costs. In any case, these companies count on high prices for oil and gas. So, when these prices fall, as they have in the past 12 months, the results can be disastrous. With that in mind, suppose you want to buy some energy names, but don't want to take outsized risks? Is that even possible? Fortunately, two large energy companies in particular are very low risk: Suncor Energy Inc. ( TSX:SU )( NYSE:SU ) and Imperial Oil Limited ( TSX:IMO )(NYSE:IMO). What makes them less risky than other energy companies? Clean balance sheets If you look at the worst-hit companies over the past year, the list is made up almost exclusively of companies with poor balance sheets. This should make plenty of sense. A big debt burden makes financial obligations difficult to meet when oil prices are plummeting.