Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) offered a look at the work it is doing at its recently acquired Huggy assets, including infrastructure upgrades and production optimization efforts.
The company said it has completed repairs and replacements to natural gas transmission flow lines, enabling gas sales to third-party purchasers.
Certain gas wells have been reclassified as oil wells with the Texas Railroad Commission (RRC) following successful chemical treatments that increased oil production, according to a statement from Wedgemount.
The company has also completed compliance testing and other regulatory work with the RRC.
Chemical treatments for wells, formations, and surface facilities have begun and will continue throughout 2025, Wedgemount said, with expectations of further production improvements and reserve recovery.
As for Wedgemount’s pre-Huggy assets, the company said stimulated wells have shown no production declines to date, supported by regular maintenance chemical treatments. Enhanced liquids production has been sustained across all treated assets.
The Davis lease wells on the Willowbend property have maintained production levels above historic initial production rates throughout fiscal 2024, with average output exceeding 20 barrels per day in the first quarter of 2025.
The firm will focus on maintenance chemical treatments across all leases in 2025.
Separately, Wedgemount said it anticipates completing and filing its audit by mid-January.