Proactive - Interviews for investors
Wedgemount Resources updates field activities at Huggy Assets, reactivates five wells
Wedgemount Resources CEO Mark Vanry joined Steve Darling from Proactive to provide an update to Proactive on the company's field activities at its recently acquired Huggy Assets. After weather-related delays, Wedgemount has full operations going, including pumping, surface facility optimization, maintenance, chemical treatments, and well workovers.
The company's primary focus remains on the Echo and Novice operational areas, where five additional wells have been brought back online. These wells had been inactive for a significant period before Wedgemount's acquisition. Historical initial production (IP) rates for these wells ranged from 15 to 65 barrels of oil equivalent per day (boepd).
Vanry noted that previous successful chemical stimulations on Wedgemount’s Willowbend leases resulted in improved well performance. The company expects similar or better results from workovers and chemical treatments at Huggy, potentially exceeding the original IP rates.
Looking ahead, Wedgemount has over 100 additional wells that have yet to undergo chemical stimulation, presenting significant production upside over the next two years.
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