Core Operating Areas
McCully Field, New Brunswick
The McCully Field is located approximately 10 km northeast of Sussex, New Brunswick in the farming community of Penobsquis.
Dry natural gas (1 barrel of condensate per million cubic feet of produced natural gas) is produced from the McCully Field, which provides Headwater with a stable cash flow to fund growth opportunities. The McCully Field is a winter producing asset connected to the northeast US gas market benefiting from premium natural gas prices during the winter season. As a result, Headwater expects to achieve much higher netbacks than most other natural gas operators in North America.
Headwater owns and operates a natural gas processing plant, with a processing capacity of 35 mmscfpd, and a 50 km transmission line connected to the Maritimes and Northeast pipeline.