Headwater Exploration Inc T.HWX

Alternate Symbol(s): CDDRF

Energy Oil & Gas E&P

Headwater Exploration Inc. is a Canada-based resource company, which is engaged in the exploration and development and production of petroleum and natural gas in Canada. The Company's core operating areas are Marten Hills and McCully Field. Marten Hills is located approximately 250 kilometers (km) north of Edmonton, Alberta, within the Clearwater play. It owns approximately 270 sections of Clearwater rights. The McCully Field is located approximately 10 km northeast of Sussex, New Brunswick, in the farming community of Penobsquis. It owns and operates a natural gas processing plant, with a processing capacity of about 35 million standard cubic feet per day (mmscfpd), and a 50 km transmission line connected to the Maritimes and Northeast pipeline. The Company has oil production, reserves, and lands in the Clearwater play in the Marten Hills area of Alberta as well as low decline natural gas production and reserves in the McCully Field near Sussex, New Brunswick.

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Comment by riskion Mar 09, 2023 6:29pm

73 Views

Post# 35329389

RE:News

18k BOE average for 2023 means exiting with well over 20K BOE.

Debt free, shareholder returns and growth all in one tidy package. This is a very well run company.

divime1 wrote:
2023 GUIDANCE UPDATE

Headwater is re-confirming its previously released capital expenditures guidance of $200 million and corresponding annual average production at 18,000 boe/d. At strip pricing (1) the Company expects to generate adjusted funds flow from operations of $280 million with exit adjusted working capital of $90 million.

https://www.newswire.ca/news-releases/headwater-exploration-inc-announces-2022-reserves-year-end-2022-operating-and-financial-results-operations-update-and-declares-quarterly-dividend-813108225.html