Headwater Exploration Inc T.HWX

Alternate Symbol(s): CDDRF

Energy Oil & Gas E&P

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.

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Headwater Exploration Inc

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Post by retiredcfon Jul 31, 2024 7:22am

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Post# 36155738

Earnings Assessment

EPS beat estimates of 17c coming in at 22c. Sales increased 40% year-over-year coming in at $157M. Production increased 15% from the year prior. HWX executed a $50.7M CAPEX program including 18 net crude oil wells in Marten Hills West and 5 net crude oil wells in Seal. The stock continues to be cheap and the dividend is easily covered by operating cash flows. We think it was a solid quarter. (5iResearch)

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