Explore 3 Stock Ideas & Industry Insights Download Free Report

888-969-2592
Shopping Cart 0
countryflagCA
Login

Home CompaniesHeadwater Exploration Inc

Headwater Exploration Inc

Energy Oil & Gas E&P
PortfolioPortfolio WatchlistWatchlist
Company price
12.72 CAD -0.25 ( 1.93%)
Last update at 2026-11-04T14:30:00Z
VOLUME
8832
Market Cap
2812.73M
P/E
18.48

Momentum Score

…

Headwater Exploration Inc. engages in the exploration, development, and production of petroleum and natural gas resources in Canada. It holds interest in the Marten Hills area located in Alberta; and the McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc. and changed its name to Headwater Exploration Inc. in March 2020. The company was incorporated in 1996 and is based in Calgary, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
12.71
Low
12.74
High
52 Week Price Range
5.27
Low
13.45
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Headwater Exploration Inc is an upstream oil and gas company operating in Western Canada that explores for and produces crude oil and natural gas. Long-term growth may be driven by reserve development and production increases, exposure to commodity prices, operational efficiency and selective asset consolidation; the company appears positioned to benefit from higher hydrocarbon prices and disciplined capital deployment. Investors may find direct commodity exposure and production-led cash-flow potential attractive.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
12.97
Dividend Yield
3.76%
Revenue TTM
514.29M
Revenue Per Share
2.16
Gross Profit TTM
382.09M
Debt / Equity
0.02
ROE
21.17%
Net Debt
-87.96M
ROCE
23.84%
Diluted EPS TTM
0.64

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 202.03M 245.49M 202.97M 211.68M 50.89M
Net income 153.21M 188.03M 156.07M 162.11M 45.83M
Selling general administrative 38.41M 91.06M 14.91M 58.96M 38.48M
Gross profit 245.11M 456.95M 193.33M 266.00M 108.10M
Reconciled depreciation 127.04M 124.88M 120.20M 79.41M 44.39M
Ebit 206.70M - 178.42M 210.17M 69.60M
Ebitda 335.42M - 299.80M 290.29M 114.33M
Depreciation and amortization 128.72M - 121.38M 80.12M 44.73M
Operating income 206.70M 242.18M 178.42M 210.88M 69.94M
Other operating expenses 307.59M - 247.13M 251.34M 121.67M
Interest expense 1.08M 1.18M 0.54M 0.89M 0.04M
Tax provision 48.82M 57.46M 46.90M 49.57M 5.06M
Interest income 3.60M 5.63M 6.52M 3.23M 0.20M
Net interest income 2.51M 3.27M 4.80M 2.96M 0.63M
Income tax expense 48.82M - 46.90M 49.57M 5.06M
Total revenue 514.29M 511.50M 425.55M 458.38M 190.94M
Total operating expenses 38.41M 378.80M 14.91M 58.96M 38.83M
Cost of revenue 269.19M 54.55M 232.21M 192.38M 82.84M
Total other income expense net -4.67M 1.22M 24.55M 0.79M -19.05M
Net income from continuing ops 153.21M 188.03M 156.07M 162.11M 45.83M
Net income applicable to common shares - 188.03M 156.07M 162.11M 45.83M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 995.17M 952.64M 836.34M 734.74M 488.81M
Other current assets 1.56M - 1.46M 1.34M 1.61M
Total liab 247.01M 253.18M 225.84M 191.41M 91.02M
Total stockholder equity 748.15M 699.46M 610.50M 543.34M 397.79M
Other current liab 56.88M 2.85M 2.51M 40.13M 57.09M
Common stock 487.38M - 483.01M 479.16M 469.52M
Capital stock 487.38M 486.98M 483.01M 479.16M 469.52M
Retained earnings 249.99M 201.51M 108.52M 46.86M -91.85M
Other liab - - - 79.01M 32.38M
Other assets - - - 1.44M 0.34M
Cash 102.00M 142.69M 146.40M 175.45M 114.70M
Cash and equivalents - - - - 114.70M
Total current liabilities 128.09M 128.91M 122.31M 112.16M 57.95M
Current deferred revenue - - 46.05M - -
Net debt -87.96M - -134.16M -174.59M -113.15M
Short term debt 5.51M - 0.03M 0.63M 0.85M
Short long term debt total 14.04M - 12.25M 0.86M 1.55M
Other stockholder equity 10.79M - 18.97M 17.31M 20.12M
Property plant equipment - - - 511.71M 340.75M
Total current assets 158.04M 207.65M 200.92M 221.59M 147.72M
Net tangible assets - - - 543.34M 397.79M
Net receivables 53.40M 58.62M 52.27M 43.56M 31.37M
Inventory 1.08M 1.19M 0.79M 1.24M 0.81M
Accounts payable 65.69M 70.85M 73.72M 71.40M 52.97M
Accumulated other comprehensive income - - 0.00M - -
Non currrent assets other 46.37M 2.88M 19.04M 1.44M 0.34M
Non current assets total 837.13M 744.99M 635.41M 513.15M 341.09M
Capital lease obligations 2.28M 2.72M 0.84M 0.86M 1.55M
Long term debt total - - - - 0.69M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -226.85M -243.71M -232.06M -109.13M
Change to liabilities - - - 3.56M 19.08M
Total cashflows from investing activities -227.88M -226.85M -243.71M -232.06M -109.13M
Net borrowings -0.84M -0.29M -0.66M 7.03M -0.34M
Total cash from financing activities -112.29M -93.24M -89.00M 8.88M 35.40M
Change to operating activities - - - -0.50M -0.04M
Net income 153.21M 188.03M 156.07M 162.11M 45.83M
Change in cash -41.04M -3.36M -29.39M 60.74M 37.93M
Begin period cash flow 143.04M 146.05M 175.45M 114.70M 76.77M
End period cash flow 102.00M 142.69M 146.05M 175.45M 114.70M
Total cash from operating activities 299.14M 316.74M 303.32M 283.93M 111.66M
Depreciation 128.72M 124.88M 121.38M 79.41M 44.39M
Other cashflows from investing activities 0.40M -3.99M -3.64M 16.87M 31.26M
Dividends paid 102.35M -94.92M 94.16M - -
Change to inventory 0.12M -0.41M 0.46M -0.58M -0.17M
Change to account receivables 4.47M -14.15M -3.50M -12.66M -25.13M
Sale purchase of stock -7.65M 0.55M -5.46M 1.84M 35.74M
Other cashflows from financing activities -0.87M 1.42M 14.41M 9.79M 35.74M
Change to netincome - - - 52.60M 43.65M
Capital expenditures 187.12M 222.87M 240.07M 248.92M 140.39M
Change in working capital -13.21M -12.10M 7.05M -10.20M -6.26M
Stock based compensation 26.01M 12.00M 5.24M 4.08M 2.73M
Other non cash items 21.81M 71.34M 1.70M -1.05M 19.91M
Free cash flow 112.02M 93.87M 63.25M 35.00M -28.73M

Peer Comparison*

Sector: Energy Industry: Oil & Gas E&P

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
HWX
Headwater Exploration Inc		 -0.25
1.93%		 12.72 18.48 21.64 5.47 3.71 4.34 8.12
CNQ
Canadian Natural Resources Ltd		 -1.27
1.69%		 73.70 11.45 12.38 3.26 2.78 3.15 6.36
OXY
Occidental Petroleum CDR (CAD Hedged)		 -0.95
3.80%		 24.08 42.29 13.11 2.65 2.04 3.96 7.33
TOU
Tourmaline Oil Corp.		 -0.79
1.19%		 65.49 87.74 15.80 5.03 1.50 3.97 7.33
OVV
Ovintiv Inc		 -1.96
2.11%		 91.01 11.06 7.80 2.46 1.34 2.39 6.40

Profile*

Headwater Exploration Inc

Headwater Exploration Inc. engages in the exploration, development, and production of petroleum and natural gas resources in Canada. It holds interest in the Marten Hills area located in Alberta; and the McCully Field area located in New Brunswick. The company was formerly known as Corridor Resources Inc. and changed its name to Headwater Exploration Inc. in March 2020. The company was incorporated in 1996 and is based in Calgary, Canada.

215 9th Avenue SW, Calgary, AB, Canada, T2P 1K3

587 391 3680

https://www.headwaterexp.com

39

Name Title Year Born
Mr. Neil Jack Roszell P.Eng. Chairman & CEO 1968
Mr. Jason Jowill Jaskela P.Eng. Pres, COO & Director 1978
Ms. Alexandra Horvath C.A., CPA VP of Fin. & CFO NA
Mr. Jonathan L. Grimwood P.Geo. Vice-Pres of Exploration 1971
Mr. Terry Ryan Danku VP of Engineering NA
Mr. Edward Brown LLB Corp. Sec. NA
Mr. Scott Earl Rideout Vice-Pres of Land 1980
Andrea Anita Creemer Exploitation Engineer NA
Mr. Tom Banks Sr. Engineering Consultant NA
Mr. Neil Jack Roszell P.Eng. Executive Chairman 1968

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

Kalkine

3 Mining Stock
Ideas Report

Download a free report with stock ideas and industry insights for general information.

Download Free Report Now → sector image

Top Stocks by Market Cap*

ORE
CAD 2.77
+8.86%
APM
CAD 4.95
+8.08%
NUAG
CAD 7.37
+8.06%
BZ
CAD 4.03
+8.04%
AYA
CAD 34.85
+7.96%
HUT
CAD 73.56
-17.26%
PHX
CAD 11.13
-12.22%
IVN
CAD 7.93
-10.70%
EFN
CAD 20.09
-10.39%
OBE
CAD 13.62
-6.71%

Equity Sectors*

  • Basic Materials

    +3.73%

  • Communication Services

    +1.16%

  • Consumer Cyclical

    +1.12%

  • Consumer Defensive

    +0.14%

  • Energy

    -1.87%

  • Financial Services

    +1.53%

  • Healthcare

    +1.50%

  • Industrials

    +0.03%

  • Real Estate

    +0.71%

  • Technology

    +0.40%

  • Utilities

    +0.35%

Note: Daily price change (%) by sector excluding stocks with +/-90% daily price change. Companies above $500 million market capitalization are considered.

Support

Hi! How can we help you today?

Loading…