January 8, 2024 (Source) — Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) (“Wedgemount” or the “Company“), is pleased to announce an update on its well stimulation and facility optimization programs for the Company’s central Texas oil and gas assets.
A total of twenty operating wells have been treated to date – thirteen of which have undergone reservoir stimulations, an additional six have had near wellbore chemical treatments and one injection well at the Willowbend asset has undergone multi-phase chemical treatments. The Company has also completed the optimization of sub-surface equipment as needed.
Initial well performance has been in-line with management expectations and the Company anticipates that all treated wells will be back on daily production in early February. Wedgemount will provide updated production numbers in the coming weeks once the wells have flowed back water and chemicals used in the stimulations.
Optimization of surface facilities is virtually complete already resulting in an immediate benefit from the additional oil storage and treatment infrastructure.
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
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