Wedgemount Resources Corp. Operations Update
Huggy Acquisition Update
All natural gas transmission flow lines have been repaired and replaced where necessary in order to facilitate gas sales to third party purchasers. Certain gas wells have been re-classified as oil wells with the RRC as successful chemical treatments carried out by the Company proved oil production. Needed compliance work has been completed with the RRC including testing. Well, formation, and surface facility chemical treatments have commenced and will continue throughout 2025. Management anticipates continued production improvements and reserve recovery.
Pre-Huggy Assets
No production declines observed to date on stimulated wells when combined with small monthly maintenance chemical treatments. Sustained increase in liquids production from all chemical stimulation work to date. Fully optimized Davis lease wells (Willowbend property) producing above historic IPs throughout fiscal year 2024, and >20bbls/day in Q1 2025. 2025 focus will be continuing maintenance chemical treatments across all leases.
2024 FYE Audit Update
The Company announced on November 29, 2024 that it would be late in filing Part 2 of National Instrument 51-101.
How this will affect me
Based on the operations update from Wedgemount Resources Corp., it is evident that the company is making significant progress in improving production and reserve recovery. This could potentially lead to increased revenue for the company, which may have a positive impact on shareholders and investors.
How this will affect the world
Wedgemount Resources Corp.’s operations update indicates a focus on optimizing production and implementing sustainable practices. This could have a positive impact on the environment by reducing waste and emissions associated with oil and gas production. Additionally, increased oil production could contribute to meeting global energy demands.
Conclusion
In conclusion, Wedgemount Resources Corp. is making strides in its West Central Texas oil and gas operations, with a focus on production optimization and compliance. The company’s efforts not only benefit its stakeholders but also have the potential to positively impact the environment and contribute to global energy needs.
