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Target Capital ( (TSE:WGT) ) has shared an announcement.
Westgate Energy Inc. has announced that its three new wells on the Beaverdam Asset in Northeast Alberta have exceeded production expectations, with an average production rate of 468 bbl/d, surpassing the forecasted 110 bbl/d per well. This success has increased the company’s confidence in its unbooked drilling locations and potential in other Mannville Stack zones, prompting plans for further drilling programs. The collaboration with the Elizabeth Metis Settlement and the dedication of the field operations team have been crucial to this achievement.
More about Target Capital
Westgate Energy Inc. is focused on the emerging Mannville Stack fairway located in North-East Alberta and West Central Saskatchewan. This area is known for accumulations of medium and heavy oil, which are being accessed through innovative horizontal drilling techniques. These methods have resulted in some of the strongest oil well economics in Western Canada.
Average Trading Volume: 61,327
Technical Sentiment Signal: Sell
Current Market Cap: C$9.22M
See more data about WGT stock on TipRanks’ Stock Analysis page.