Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) said on Wednesday it has resumed oil production after a temporary shutdown due to extreme cold weather conditions in recent weeks.
The US-focused junior oil and gas company had proactively shut in its oil production and processing operations to prevent damage to its wells and facilities.
With temperatures returning to seasonal norms, Wedgemount said it has restarted production and resumed oil sales.
The company also reported that it has completed most of the surface facility and compliance work related to its recent acquisition of the Huggy oil asset. Wedgemount said it will now focus on production growth and optimization for the remainder of the year, including chemical treatments and well workovers to enhance efficiency and output.
Separately, the company said the British Columbia Securities Commission (BCSC) lifted a Management Cease Trade Order (MCTO) after Wedgemount filed its annual financial statements for the fiscal year ended July 31, 2024. The company also submitted interim financial statements for the three months ended October 31, 2024, alongside required management certifications and oil and gas filings.