Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) has provided an update on its west central Texas oil and gas operations following its recent acquisition of the Huggy assets.
The company said it has initiated optimization work on wells and surface facilities in the Echo and Novice fields, which comprise the core of the Huggy assets.
As a result, the company has increased its number of producing wells to 72 from 23.
So far, surface processing improvements and upgrades have been completed on six wells in the Echo field, and a production well in the Novice field has been repaired and brought online.
In October, Wedgemount plans to add a second workover rig and crew to the Echo and Novice units, aiming to optimize an additional 10 wells by the end of the month.
The company expects variability in the number of active production wells through the remainder of the year, as ongoing enhancements continue.
Wedgemount anticipates providing regular field and production updates in the coming weeks for each of its operating areas, including Novice, Echo, Crews, and Talpa.