Wedgemount Announces Initial Operations Update Post Huggy Acquisition
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) has provided an operations update for its west central Texas oil and gas operations following the recent Huggy asset acquisition. Key highlights include:
- Total producing wells increased from 23 to 72
- Significant surface processing improvements completed in the Echo field
- Enhancement work completed on six producing wells in Echo
- One production well repaired and reactivated in Novice
- Plans to add a second workover rig and crew in October
- Goal to optimize an additional 10 wells in October
The company aims to ramp up production and sales before the US holiday season and expects to announce regular field and production updates for its operating areas including Novice, Echo, Crews, and Talpa.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ha fornito un aggiornamento sulle operazioni relative alle sue attività di petrolio e gas nel Texas centrale-occidentale a seguito dell'acquisizione recente dell'asset Huggy. I punti salienti includono:
- Aumento totale dei pozzi produttivi da 23 a 72
- Importanti miglioramenti nel trattamento superficiale completati nel campo Echo
- Lavori di potenziamento completati su sei pozzi produttivi in Echo
- Un pozzo di produzione riparato e riattivato a Novice
- Piani per aggiungere un secondo impianto di lavoro e una squadra a ottobre
- Obiettivo di ottimizzare ulteriori 10 pozzi a ottobre
L'azienda mira ad aumentare la produzione e le vendite prima della stagione delle festività negli Stati Uniti e si aspetta di annunciare aggiornamenti regolari sui campi e sulla produzione per le sue aree operative, tra cui Novice, Echo, Crews e Talpa.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ha proporcionado una actualización de operaciones para sus actividades de petróleo y gas en el centro-oeste de Texas tras la reciente adquisición de los activos Huggy. Los aspectos destacados incluyen:
- El total de pozos productores aumentó de 23 a 72
- Se completaron mejoras significativas en el procesamiento en superficie en el campo Echo
- Se realizaron trabajos de mejora en seis pozos productivos en Echo
- Se reparó y reactivó un pozo de producción en Novice
- Se planea agregar una segunda plataforma de trabajo y equipo en octubre
- Objetivo de optimizar otros 10 pozos en octubre
La empresa tiene como objetivo aumentar la producción y las ventas antes de la temporada navideña en Estados Unidos y espera anunciar actualizaciones periódicas sobre los campos y la producción en sus áreas operativas, incluyendo Novice, Echo, Crews y Talpa.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF)는 최근 허기 자산 인수 이후 텍사스 중서부의 석유 및 가스 운영에 대한 운영 업데이트를 제공합니다. 주요 포인트는 다음과 같습니다:
- 생산 중인 우물이 23개에서 72개로 증가했습니다.
- 에코 필드에서의 표면 처리 개선이 완료되었습니다.
- 에코에 있는 6개의 생산 우물에서 개선 작업이 완료되었습니다.
- 노바이스에서 하나의 생산 우물이 수리되고 재가동되었습니다.
- 10월에 두 번째 작업 rig와 팀을 추가할 계획입니다.
- 10월에 추가 10개의 우물을 최적화할 목표입니다.
회사는 미국 명절 시즌이 시작되기 전에 생산 및 판매를 증가시키고, 노바이스, 에코, 크루스 및 탈파를 포함한 운영 지역에 대한 정기적인 현장 및 생산 업데이트를 발표할 것으로 기대하고 있습니다.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) a publié une mise à jour des opérations concernant ses activités de pétrole et de gaz au centre-ouest du Texas suite à l'acquisition récente de l'actif Huggy. Les points clés incluent :
- Le nombre total de puits producteurs est passé de 23 à 72
- Des améliorations significatives du traitement en surface ont été réalisées dans le champ d'Echo
- Des travaux d'amélioration ont été réalisés sur six puits producteurs à Echo
- Un puits de production a été réparé et réactivé à Novice
- Des plans pour ajouter un deuxième appareil de travail et une équipe en octobre
- Objectif d'optimiser 10 puits supplémentaires en octobre
L'entreprise vise à augmenter sa production et ses ventes avant la saison des fêtes américaine et s'attend à annoncer des mises à jour régulières concernant les champs et la production dans ses zones d'opération, y compris Novice, Echo, Crews et Talpa.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) hat ein Update zu seinen Öl- und Gasoperationen im westlichen Zentrum von Texas veröffentlicht, nach der kürzlichen Akquisition des Huggy-Assets. Wichtige Highlights sind:
- Die Gesamtzahl der produzierenden Brunnen stieg von 23 auf 72
- Signifikante Verbesserungen der Oberflächenverarbeitung im Echo-Feld wurden abgeschlossen
- Verbesserungsarbeiten an sechs produzierenden Brunnen im Echo-Feld wurden abgeschlossen
- Ein Produktionsbrunnen wurde in Novice repariert und reaktiviert
- Pläne zur Hinzufügung eines zweiten Arbeitsgeräts und einer Crew im Oktober
- Ziel, im Oktober weitere 10 Brunnen zu optimieren
Das Unternehmen plant, die Produktion und den Verkauf vor der US-Urlaubssaison zu steigern und erwartet, regelmäßige Updates zu den Feldern und der Produktion in seinen Betriebsgebieten, einschließlich Novice, Echo, Crews und Talpa, bekannt zu geben.
- Increase in total producing wells from 23 to 72 post-acquisition
- Completion of significant surface processing improvements in Echo field
- Enhancement work on six producing wells in Echo field
- Addition of second workover rig and crew planned for October
- Plans to optimize 10 more wells in October
- Expectation of variability in the number of production wells due to ongoing work
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2024) - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company"), is pleased to provide an operations update for the Company's west central Texas oil and gas operations.
Since the closing of the Company's recently announced Huggy asset acquisition and concurrent financing, Wedgemount's operations team has commenced optimization of wells and surface facilities in both the Echo and Novice fields which make up the core of the Huggy assets. As a result, the Company now has a total of 72 wells producing up from 23 prior to the Huggy purchase. Initial work has been focused on our Echo operating unit where the Company has completed significant surface processing improvements and completed enhancement work on six producing wells. A Novice one production well has been repaired and turned back on.
In October Wedgemount plans to add a second workover rig and crew to the Echo and Novice units, which the Company anticipates running through the balance of calendar year with the goal of ramping up production and sales prior to the US holiday season. Current plans include optimizing an additional 10 wells during the month of October. For the balance of calendar 2024 the Company expects variability in the number of production wells on at any given time due to the continuing work on wells and surface infrastructure.
The Company expects to announce regular field and production updates in the coming weeks for each of the Company's operating areas including Novice, Echo, Crews and Talpa.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
Mark Vanry, President and CEO
For more information, please contact the Company at:
Telephone: (604) 343-4743
info@wedgemountresources.com
www.wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226114
FAQ
How many wells are now producing after Wedgemount's Huggy asset acquisition?
What improvements has Wedgemount made to the Echo field?
What are Wedgemount's plans for October 2024 regarding its oil and gas operations?
What is Wedgemount's goal for production before the US holiday season?
