Headwater Exploration Inc. (T:HWX*CA)
Business Focus: Oil & Gas Exploration and Production (NEC)
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| Company Contact | |
| Address: | Unit 1400, 215 9 Avenue SW CALGARY AB T2P 1K3 |
| Tel: | N/A |
| Website: | https://headwaterexp.com |
| IR: | See website |
| Key People | ||
| Neil J. Roszell Chairman of the Board, Chief Executive Officer | Jason Jaskela President, Chief Operating Officer, Director | Georgia Little Chief Financial Officer, Interim Vice President - Finance |
| Brad Christman Vice President - Production | Terry Danku Vice President - Engineering | Jonathan L. Grimwood Vice President - Exploration |
| Scott Earl Rideout Vice President - Land | Edward Brown Corporate Secretary | |
| Business Overview |
| 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. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Headwater Exploration Inc revenues increased 14% to C$425.5M. Net income decreased 4% to C$156.1M. Revenues reflect Heavy oil segment increase of 17% to C$495.2M, Natural Gas Production, Total increase of 7% to 3.22B cubic feet, Oil Equivalent Production (Units/day), T increase of 40% to 18K barrels per day. Net income was offset by Avg. Production Costs. |
| Employees: | 28 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $1,668M as of Dec 31, 2023 |
| Annual revenue (TTM): | $425.55M as of Dec 31, 2023 |
| EBITDA (TTM): | $299.80M as of Dec 31, 2023 |
| Net annual income (TTM): | $156.07M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$30.91M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 237,290,032 as of Apr 3, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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