- In January, WesCan (WCE) released news about its drilling operations and related products
- The new well proved to be a success, consisting of valuable geological data supporting its preliminary work
- The company acquired an additional 240 acres that are contiguous with WesCan’s current land position
- WesCan continues to further evaluate the prospect and budget for the subsequent drilling event
- WesCan Energy (WCE) is up 5 per cent, trading at C$0.10 at 11:57 am EST
Calgary, Alberta’s WesCan Energy (WCE) has acquired additional land at its core area at Provost, Alberta.
Acquiring additional land
In January, WesCan released news about its drilling operations and related products.
The new well proved to be a success, consisting of geological data supporting its initial work for a second multi-leg horizontal well at Provost.
As a result, the company acquired an additional 240 acres that are contiguous with WesCan’s current land position.
All of the land is 100 per cent owned and operated by WesCan.
The acquired acreage should allow for additional recovery of hydrocarbons within the geological parameters laid out in the formation of interest.
Back in October, WesCan Energy completed a tie-in of a well through its wholly-owned infrastructure and production facility.
This production took place in October after its field turn-around program was completed.
The turn-around was conducted over 10 days while the well was being completed for production.
During this time, the company went through operational delays due to various service providers, equipment and materials needing to be readily available.
WesCan Energy (WCE) is up 5 per cent, trading at C$0.10 at 11:57 am EST.