05:10 PM EST, 01/06/2025 (MT Newswires) -- Headwater Exploration ( CDDRF ) on Monday said its fourth-quarter oil and gas production rose 5.7% from the previous quarter.

The Western Canadian producer said its averaged about 21,500 barrels of oil equivalent per day in the period, up from 20.342 boepd in the third quarter.

The company also said it is partnering with the Bigstone Cree Nation to drill four wells on lands in the Greater Pelican area to secure a lease on 34.5 sections of land controlled by the Nation. It previously acquired 23 sections in the area in a Crown land sale.

The company's shares closed up $0.05 to $6.86 on the Toronto Stock Exchange.