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Headwater Exploration Inc.HWX.TO

Energy · Energy · TSX · Canada · headwaterexp.com

Headwater Exploration is a Canadian oil and natural gas company focused on the development of heavy oil resources in the Marten Hills area of Alberta using horizontal multistage fracturing technology. The company targets the Clearwater oil play through disciplined, capital-efficient development with a track record of growing production and paying dividends.

Key ratios

FCF / Sales
13.4%TTM
2025 13.4%2024 18.4%2023 14.9%
Net margin
29.8%TTM
2025 29.8%2024 36.8%2023 36.7%
ROA
12.8%TTM
2025 12.8%2024 16.8%2023 15.7%
ROE
21.2%TTM
2025 21.2%2024 28.7%2023 27.1%

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