Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) said on Friday it has resumed field operations at its recently acquired Huggy Assets in west-central Texas as seasonal temperatures return, allowing for increased production activity.
The company has restarted pumping, maintenance, chemical treatments, and well workovers, focusing on the Echo and Novice operational areas, where it has brought five previously inactive wells back online.
Historic initial production rates for these wells ranged from 15 to 65 barrels of oil equivalent per day (boepd), Wedgemount said.
The company expects output to meet or exceed those levels following workovers and chemical stimulation, based on past results at its Willowbend leases.
Wedgemount, which has more than 100 wells yet to undergo chemical treatment, said the program represents a "significant production upside" over the next two years.