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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 retiredcfon May 20, 2024 1:29pm
180 Views
Post# 36048835

Another View of Earnings

Another View of EarningsEPS was 16c, missing estimates of 19c; revenue of $127M missed estimates of $128M. EBITDA of $93.4M beat estimates by 15.5%. EPS rose from 13c in the prior year. Revenue rose 35% but per share cash flow slipped 8% to 23c. Production rose 15% to 19,459 b/d. Six exploration wells hit a 100% success rate. The balance sheet remains very strong. While technically a 'miss', the stock remains very cheap and is doing well, up 22% this year. The nice dividend looks secure considering the company's $146M net cash position and strong cash flow. (5iResearch)
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