In an engaging discussion with Tracy Weslosky, Mark Vanry, the President, CEO, and Director of Wedgemount Resources Corp. (CSE: WDGY | OTCQB: WDGRF), provided updates on the company’s ambitious production enhancement efforts. Despite weather-related delays, Wedgemount has nearly completed chemical stimulations on 17 Texas wells, part of a broader strategy to significantly boost oil production. From initial acquisitions producing 31 barrels of oil equivalent per day, the company has surged to 177 barrels, with expectations to further double this output. The completion of service facility optimizations, now 100% done, and the integration of the TCS light oil acquisition, bringing the total to 24 producing wells, underscore the company’s progress.
Vanry also revealed that infrastructure improvements are 95% complete, enhancing oil treatment and sales processes to shorten the working capital cycle from 70 to about 30 days, promising quicker cash flows and shareholder benefits. The appointment of Steve Vanry, a CFO with extensive experience, adds strategic financial oversight as Wedgemount transitions from pre-production to active operation. Looking forward, Vanry anticipates a comprehensive update on production enhancements by the end of Q1, alongside active exploration for additional asset acquisitions, aiming to expand the portfolio by mid-2024. He summarized the company’s position and outlook, expressing excitement about the integration and ramp-up of both new and historical assets.
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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.
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