- Wedgemount (WDGY) provided an update on the production results from its Willowbend project and newly acquired Millican light oil project
- Both projects are located in the Permian Basin of Central Texas
- As of April 24, 2023, the company’s total field production increased to 153 boepd, representing a five-fold increase since Wedgemount’s subsidiary, Wedgemount Texas Corp acquired Willowbend and Millican assets
- Wedgemount Resources is a junior natural resources company
- Wedgemount Resources Corp (WDGY) opened trading at C$0.16 per share
Wedgemount (WDGY) provided an update on the production results from its Willowbend project and newly acquired Millican light oil project.
Both projects are located in the Permian Basin of Central Texas.
As of April 24, 2023, the company’s total field production increased to 153 boepd. This represents a five-fold increase since Wedgemount’s subsidiary, Wedgemount Texas Corp acquired Willowbend and Millican assets during Q1 2023.
A total of 16 wells are now producing in the company’s core Runnels County operating area.
The company conducted field optimization work during the first week of April 2023. It included chemical treatments targeting both well and formation cleanouts in a total of 15 wells.
The proprietary treatments developed by WTC’s partner, Petrosaurus Inc. are designed to breakdown paraffins and asphaltenes which inhibit well productivity. The next phase of fieldwork will include well workovers and surface optimizations in early May. The company anticipates this will further boost daily production.
All fieldwork continues to be under the direction of Wedgemount’s San Antonio based partner, Petrosaurus Inc.
About Wedgemount Resources
Wedgemount Resources is a junior natural resources company. It focuses on the acquisition, discovery and advancement of natural resource projects in North America.
The company’s projects include Eagle Copper & Gold Project located in the Omineca Mining Division in north-eastern British Columbia.
Wedgemount Resources Corp (WDGY) opened trading at C$0.16 per share.
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