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
Tel: N/A
Website: https://headwaterexp.com
IR: See website
Key People
Neil J. Roszell
Executive Chairman of the Board
Jason Jaskela
President, Chief Executive Officer, Director
Georgia Little
Chief Financial Officer, Interim Vice President - Finance
Brad Christman
Chief Operating Officer
Terry Danku
Vice President - Engineering
Dieter Deines
Vice President - Exploration
Jonathan L. Grimwood
Vice President - New Ventures
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 three months ended 31 March 2024, Headwater Exploration Inc revenues increased 26% to C$112.2M. Net income increased 25% to C$37.6M. Revenues reflect Heavy oil segment increase of 32% to C$127.4M, Oil Equivalent Production (Units/day), T increase of 15% to 20K barrels per day. Net income was partially offset by Avg. Production Costs, Total increase of 3% to C$12.39 per barrel.
Employees: 28 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $1,517M as of Mar 31, 2024
Annual revenue (TTM): $448.86M as of Mar 31, 2024
EBITDA (TTM): $320.89M as of Mar 31, 2024
Net annual income (TTM): $163.71M as of Mar 31, 2024
Free cash flow (TTM): -$32.10M as of Mar 31, 2024
Net Debt Last Fiscal Year: N/A
Shares outstanding: 237,487,442 as of Jun 5, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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