RY 139.89 0.8943% TD 76.9 1.2242% SHOP 86.16 -18.5248% CNR 172.89 0.5818% ENB 51.15 1.1269% CP 112.14 0.5199% BMO 127.56 0.9816% TRI 229.43 0.1528% CNQ 105.96 1.0105% BN 60.44 0.683% ATD 75.02 0.4015% CSU 3820.47 1.7341% BNS 65.64 1.4685% CM 66.73 1.3364% SU 53.67 0.4304% TRP 52.0 1.069% NGT 57.07 0.3693% WCN 227.19 0.0528% MFC 33.6 0.9919% BCE 46.16 0.5445%
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Headwater (TSX: HWX) reports 18.4% jump in FY23 net revenue backed by higher average daily production
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Highlights
Headwater Exploration Inc (TSX: HWX) is a publicly traded company specializing in oil and gas exploration and development. The company is actively involved in exploring, developing, and producing petroleum and natural gas resources within Canada. The company generates substantial revenue from the sale of commodities including natural gas, crude oil, and natural gas liquids.
In the financial year 2023, the company’s net revenue increased by 18.4% compared to FY22. The higher net revenue was driven by higher average production of 18,038 boe/d, an increase of 40% over 2022 annual production. Additionally, the company aims to expand its opportunities through strategic land purchases and beneficial mergers and acquisitions. It anticipates achieving a daily production rate of 20,000 (boe/d) in FY 2024.
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