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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

Comment by pogohereon Oct 17, 2023 2:35pm
185 Views
Post# 35687616

RE:National Bank

RE:National BankLCX well development:


https://ca.finance.yahoo.com/news/lycos-energy-inc-announces-closing-132100568.html

Lycos is pleased to provide results on its most recent Mannville multi-lateral oil wells, consisting of one extended reach "sweeper" 17,000m fishbone, three shorter fishbones, one conventional multi-lateral and two new generation "wine rack" multi-laterals.

Five of the seven wells on stream have substantially outperformed expectations. Lycos is very encouraged by the "sweeper" extended length Sparky fishbone, with an IP25 of over 375 boe/d, making it the best fishbone well drilled by the Company to date. Drilling length, well geometry and changes in drilling design have substantially increased observed initial rates. The two Alberta Sparky wells were drilled with prior generation fluid systems and have taken longer to clean up. Both wells continue to improve in oil rates and decline in water rates.

Well Type

Drilled
Length (m)

Cumulative
Oil (bbl)

Production
Rate Since
Inception (boe/d)

Current
Production
Rate (boe/d)

Zone

Production
Days On

Sweeper Fishbone

17,150

9,915

397

375

Sparky

25

Wine Rack

10,859

8,505

340

300

Sparky/GP

25

8 Leg Multi-lateral

10,163

17,040

289

255

Rex

59

Wine Rack

8,025

5,185

288

260

Sparky/GP

18

Half Fishbone

13,424

14,720

189

152

Rex

78

Fishbone

7,349

5,532

77

125

Sparky

72

Fishbone

9,858

7,412

96

108

Sparky

77

 

Lycos plans to bring on one more "wine rack" well, two more fishbones and one more conventional multi-lateral by year end. The Company's current production exceeds 4,000 boe/d.

 
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