Headwater Exploration Inc

HWX

Equity

ISIN CA4220961078 / Valor 53103403

Toronto Stock Exchange (2024-12-24)

CAD 6.55+1.71%

Headwater Exploration Inc
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About company

Headwater Exploration Inc. is a publicly traded company based in Canada, engaged in the oil and gas sector with a primary focus on exploration and development activities. The company aims to achieve superior corporate-level returns while maintaining a strong balance sheet. Its business strategy emphasizes sustainability, indicating a commitment to responsible and efficient operations within the energy sector. Although the source does not detail specific geographic areas of operation or types of oil and gas projects, Headwater Exploration Inc.'s activities typically involve the identification, evaluation, and development of potential oil and gas reserves, a common practice within the industry aimed at discovering and extracting valuable hydrocarbon resources.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

Headwater Exploration Inc. reported a significant increase in revenue for the second quarter of 2024. The company's revenue reached $145.4 million, up from $127.1 million in the same period of the previous year. This growth was primarily driven by higher commodity prices and increased production volumes.

Adjusted Funds Flow

In the second quarter of 2024, Headwater Exploration Inc. achieved an adjusted funds flow from operations of $88.0 million, compared to $66.2 million in the second quarter of 2023. This improvement reflects the company's strong operational performance and effective cost management strategies.

Dividend Declaration

Headwater Exploration Inc. declared a cash dividend of $0.10 per common share for the second quarter of 2024. The dividend was paid on July 15, 2024, to shareholders of record at the close of business on June 28, 2024. This marks a continuation of the company's commitment to returning value to its shareholders.

Credit Facilities

During the second quarter of 2024, Headwater Exploration Inc. increased its total borrowing base to $200.0 million from $100.0 million. As of June 30, 2024, the company had not drawn on these credit facilities, which provide financial flexibility to support future growth initiatives.

Adjusted Working Capital

As of June 30, 2024, Headwater Exploration Inc. reported adjusted working capital of $62.4 million, compared to $63.5 million as of December 31, 2023. This slight decrease was due to changes in financial derivative liabilities and other working capital adjustments, reflecting the company's ongoing efforts to manage its liquidity effectively.

Summarized from source with an LLMView Source

Key figures

0.61%1Y

33.1%3Y

810%5Y

Performance

26.7%1Y

39.1%3Y

47.5%5Y

Volatility