The striker has joined the relegation-threatened club in a £25million deal ahead of Saturday’s home game against Watford.
Newcastle activated a buy-out clause in the 30-year-old’s contract to sign him against his club’s wishes.
Asked about his move to St James’s Park, Wood said: “For me, there’s no bad blood. I really enjoyed my time at Burnley. It was absolutely fantastic.
"The highs that we had, playing in the Europa League, finishing 10th in the league. Even when we were fighting relegation, The crowd was absolutely superb, always behind the lads and me as the striker.
"I’ve nothing but great memories from there. It was a case of this is a massive opportunity and a massive club, and something I couldn’t turn down.”
Wood – who has scored three Premier League goals so far this season – had to make a quick decision after United made their move on Tuesday, and the New Zealand international went with his gut feeling.
“It was just one of those feelings you have,” said Wood. “Look, I think it’s the right time in my career. I’ve been at Burnley for four and a half years.
"I was very comfortable, and very happy and settled there, but when I look at myself, I think nothing ever great happens in your comfort zone. I’m under no illusion that this is going to be a big challenge for me.
"It potentially could be great for me and the club. That’s how I viewed it. It was the right decision at the right time.”
Wood could make his debut for Newcastle, 19th in the Premier League table and level on points with Burnley, against Watford at St James’s Park on Saturday.
“There’s pressure no matter what no matter what team you’re playing on,” said Wood. “These are big games. I’m enjoying being here. I know there’s a lot of quality and great players in this group.
"If selected, I’m ready and able, and looking forward to the weekend and playing in front of that home crowd.”