BOE Intel’s asset transfer tool has picked up on a mineral rights transfer in one of the more interesting plays in Western Canada, with Headwater Exploration acquiring Clearwater acreage from Woodcote Oil & Gas Inc. This mineral rights transfer went through on June 30th.
The acreage is near West Nipisi and connects two pieces of land for Headwater. The West Nipisi expansion is relatively new for Headwater, first showing up in its April presentation. That land was announced as 31.5 net sections in its Q1 release, adding to what was previously called Utikima Lake by the company. That land does not show in the public records for Headwater as it is currently held under broker, but the company does show it in its corporate presentation (Figure 2).
What Headwater’s corporate presentation does not show yet is the newly acquired lands from Woodcote, shown below in Figure 1 in orange. This will add 12 net sections to Headwater’s previously announced West Nipisi position. Well spuds from both companies over the last 12 months are also shown below, as well as the crown mineral rights that do show for Headwater in pink.
Figure 1 – BOE Intel activity map with mineral rights transfer
A slide from the company’s corporate presentation shows how this newly acquired land will fit in with the previously announced land position.
Figure 2 – Slide from Headwater presentation
Source: Headwater Corporate Presentation PowerPoint Presentation (headwaterexp.com)
Headwater’s West Nipisi expansion follows up on some successful Utikima Lake exploration wells. The public data for those wells is aggregated below in Figure 3. Hover over the chart to see the results by month, as well as the average of those wells.
Figure 3 – public data results for Headwater Utikima Lake wells
To spot these asset transfers as they happen, book a demo for BOE Intel here.