Wedgemount Resources CEO Mark Vanry on Texas Oil and Gas Operations Update

Proactive - Interviews for investors

Wedgemount Resources CEO Mark Vanry joined Steve Darling from Proactive to share progress on the company's west-central Texas oil and gas operations, following the acquisition of the Huggy asset and its concurrent financing. The company has made significant strides, increasing the number of active wells from 23 to 72 across the Echo and Novice fields, the core of the Huggy assets. Wedgemount’s operations team has been focused on optimizing wells and upgrading surface facilities, especially at the Echo operating unit, where surface processing improvements and enhancements on six producing wells have been completed. Additionally, one production well at Novice has been repaired and brought back online. Vanry further noted that in October, the company plans to deploy a second workover rig and crew to the Echo and Novice units. The team aims to optimize an additional 10 wells during the month, ramping up production and sales before the U.S. holiday season. Wedgemount anticipates some variability in the number of active production wells for the remainder of 2024 due to ongoing work on wells and surface infrastructure upgrades. He also shared optimism about the global oil demand forecast, citing potential growth to 110 million barrels per day by 2030. Wedgemount is positioning itself to capitalize on these trends, with ongoing plans to ramp up production and optimize its assets. #proactiveinvestors #wedgemountresourcescorp #cse #wdgy #otcqb #wdgrf #OilAndGas #TexasOil #PermianBasin #HuggyAsset #EnergyGrowth #MarkVanry #ProactiveInvestors #OilIndustry #TexasEnergy #NaturalGas #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews