Wedgemount Resources Announces Completion of Acquisition of Additional Permian Basin Assets
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) has successfully closed the acquisition of additional oil and gas assets in the Permian Basin of west central Texas. The Huggy Assets include a 100% working interest in 20,000 acres covering 37 oil and gas leases, with 111 producing wells, 8 injectors, and all surface facilities. Current production is approximately 72 boe/d of high-quality, low-decline operated production. The company made total cash payments of US$840,000 for the assets, adjusted from the previously announced price of US$900,000. Management anticipates targeting numerous hydrocarbon-producing formations in the area.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ha concluso con successo l'acquisizione di ulteriori asset petroliferi e gaziferi nel Bacino Permiano, nella parte ovest centrale del Texas. Gli Huggy Assets comprendono un interesse lavorativo del 100% su 20.000 acri che coprono 37 concessioni per il petrolio e il gas, con 111 pozzi produttivi, 8 pozzi iniezione e tutte le strutture di superficie. La produzione attuale è di circa 72 boe/d di produzione operata di alta qualità e a bassa declino. L'azienda ha effettuato pagamenti totali in contante di 840.000 US$ per gli asset, rettificati rispetto al prezzo precedentemente annunciato di 900.000 US$. Il management prevede di mirare a numerose formazioni produttive di idrocarburi nell'area.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ha cerrado con éxito la adquisición de activos adicionales de petróleo y gas en la Cuenca Pérmica del oeste central de Texas. Los Huggy Assets incluyen una participación del 100% en 20,000 acres que abarcan 37 arrendamientos de petróleo y gas, con 111 pozos en producción, 8 inyectores y todas las instalaciones superficiales. La producción actual es de aproximadamente 72 boe/d de producción operada de alta calidad y bajo declive. La empresa realizó pagos en efectivo totales de 840,000 US$ por los activos, ajustados del precio previamente anunciado de 900,000 US$. La dirección anticipa enfocarse en numerosas formaciones productoras de hidrocarburos en el área.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF)가 텍사스 서부 중앙의 퍼미안 분지에서 추가 석유 및 가스 자산 인수를 성공적으로 완료했습니다. Huggy Assets는 37개의 석유 및 가스 임대권을 포함하여 20,000에이커에 대한 100%의 운영 지분을 포함하고 있으며, 111개의 생산 우물, 8개의 주입 우물 및 모든 표면 시설을 포함합니다. 현재 생산량은 고품질의 낮은 감소세를 보이는 운영 생산량이 약 72 boe/d입니다. 회사는 자산에 대해 총 840,000 US$의 현금 지급을 하였으며, 이는 당초 발표된 가격인 900,000 US$에서 조정된 것입니다. 경영진은 해당 지역의 다양한 탄화수소 생산 형성을 목표로 할 것으로 예상합니다.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) a réussi à clôturer l'acquisition d'actifs supplémentaires de pétrole et de gaz dans le Bassin permien du centre-ouest du Texas. Les Huggy Assets comprennent un intérêt de travail de 100 % sur 20 000 acres couvrant 37 baux de pétrole et de gaz, avec 111 puits en production, 8 injecteurs et toutes les installations de surface. La production actuelle est d'environ 72 boe/d de production opérée de haute qualité avec une faible déclinaison. L'entreprise a effectué des paiements en espèces totalisant 840 000 US$ pour les actifs, ajustés par rapport au prix précédemment annoncé de 900 000 US$. La direction prévoit de cibler de nombreuses formations productrices d'hydrocarbures dans la région.
Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) hat erfolgreich den Erwerb zusätzlicher Öl- und Gasressourcen im Permian Basin im westlichen Zentraltexas abgeschlossen. Die Huggy Assets umfassen einen 100%igen Arbeitsanteil an 20.000 Acres, die 37 Öl- und Gas-Lizenzen abdecken, mit 111 produzierenden Brunnen, 8 Injektoren und allen notwendigen Oberflächenanlagen. Die aktuelle Produktion liegt bei etwa 72 boe/d an hochwertiger, niedrig abnehmender Betriebsproduktion. Das Unternehmen hat insgesamt 840.000 US$ in bar für die Vermögenswerte gezahlt, was eine Anpassung des zuvor angekündigten Preises von 900.000 US$ darstellt. Die Geschäftsführung plant, zahlreiche kohlenwasserstoffproduzierende Formationen in der Region ins Visier zu nehmen.
- Acquisition of 100% working interest in 20,000 acres of oil and gas assets
- 111 producing wells and 8 injectors included in the acquisition
- Current production of approximately 72 boe/d of high-quality, low-decline operated production
- Potential for targeting multiple hydrocarbon-producing formations
- Cash outlay of US$840,000 for the acquisition
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2024) - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company"), is pleased to announce that it has closed the acquisition of additional oil and gas assets (the "Huggy Assets") located in the Permian Basin of west central Texas pursuant to a Purchase and Sale Agreement ("PSA") with an arm's length private company (the "Seller") located in Texas, USA.
Under the PSA, Wedgemount has acquired a
Wedgemount made total cash payments to the Seller of US
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
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FAQ
What assets did Wedgemount Resources (WDGRF) acquire in the Permian Basin?
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What are Wedgemount Resources' (WDGRF) plans for the newly acquired Permian Basin assets?
