Headwater Exploration Inc. (TSE:HWX) has released an update.
Headwater Exploration Inc. reported steady first quarter production, matching guidance, with an average output of 19,500 barrels of oil equivalent per day (BOE/d) and strong results from new wells in Marten Hills West and promising exploration in West Nipisi and Heart River. The company remains on track to achieve its annual production target of 20,000 BOE/d. Significant advancements include the implementation of a successful waterflood in Marten Hills West, which is expected to stabilize oil production, and new discoveries that could lead to further development in their respective areas.
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