• Headwater published its Q2 2026 MD&A, reporting record production of 24,567 boe/d, up 10% from a year earlier.
• Adjusted funds flow from operations reached CAD 117.7 million; net income was CAD 85.4 million; operating netback including derivatives was CAD 59.88/boe.
• Capital spending totaled CAD 81.6 million; a CAD 0.12 per-share cash dividend was declared; adjusted working capital was CAD 9 million.
• WTI fixed-price hedges drove CAD 11.9 million of realized derivative losses; the remaining June-December WTI contract was unwound in June.
• 2026 guidance was reaffirmed, including average production of 25,000 boe/d, capital spending of CAD 250 million, adjusted funds flow of CAD 385 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Headwater Exploration Inc. published the original content used to generate this news brief on July 23, 2026, and is solely responsible for the information contained therein.