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Headwater Exploration Inc T.HWX

Alternate Symbol(s):  CDDRF

Headwater Exploration Inc. is a Canadian resource company engaged in the exploration for and development and production of petroleum and natural gas in Canada. The Company has heavy oil production and reserves in the Clearwater/Falher formations in the Marten Hills, Greater Nipisi and Greater Peavine areas of Alberta and natural gas production and reserves in the McCully field near Sussex, New Brunswick. The McCully Field is located approximately 10 kilometers (kms) 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 approximately 35 mmscfpd, and a 50 km transmission line connected to the Maritimes and Northeast pipeline. The McCully Field is a winter producing asset connected to the northeast United States gas market. The Company drilled its first stratigraphic test and single-leg horizontal well, prospective for heavy oil, in Handel, Saskatchewan.


TSX:HWX - Post by User

Post by geezer21on May 17, 2022 8:20pm
87 Views
Post# 34690936

OPEC: No Increase Coming

OPEC: No Increase Cominghttps://www.zerohedge.com/markets/opec-ministers-warn-no-increase-supply-coming-online


OPEC Ministers Warn No Increase In Supply Is Coming Online

by Tyler Durden
Tuesday, May 17, 2022 - 08:05 PM

According to OPEC, the oil markets are so askew at the moment that adding capacity would fail to materially stave off high prices.

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, has said there are “physical impediments that no producer can solve” at work right now in the oil market, according to the Financial Post/Bloomberg.

The move shows OPEC posturing up at a time when U.S. lawmakers have been rushing to try and solve the problem of exploding gas prices. Bin Salman's comments come at a time when exports out of Russia, a major player on the global oil and gas stage, have been disrupted.

“There is no refining capacity commensurate with the current demand and the expectation of the demand in the summer,” Bin Salman said this week.

His thoughts were echoed by Bahrain’s Oil Minister Sheikh Mohammed Bin Khalifa Bin Ahmed, the report said.

As a result, OPEC is expected to continue to raise output by 432,000 barrels a month. 

Bahrain's oil minister commented this week: “There’s no new capacity coming. Even if you produce more crude, there isn’t demand for it, there aren’t any more refineries.”

And OPEC seems to be happy with the job they are doing - which means Sleepy Joe is going to have to turn to another page in his "big book of micromanaging the oil market to try and manipulate prices".

Iraqi Oil Minister Ihsan Abdul Jabbar even commented that OPEC was putting in its “best performance in maybe more than 50 years" in achieving balance in the oil market.
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