Headwater Exploration Inc. announced operating results for the fourth quarter and year ended December 31, 2023. For the quarter, the company achieved record production of 19,939 boe/d (93% heavy oil), an increase of 28% over 2022 fourth quarter production of 15,546 boe/d (87% heavy oil).

For the year, the company achieved average production of 18,038 boe/d (91% heavy oil), an increase of 40% over 2022 annual production of 12,841 boe/d (89% heavy oil).