Westgate Energy Ramps Up Beaverdam Output, Plans Nine More Wells in 2026

An announcement from Target Capital ( (TSE:WGT) ) is now available.

Westgate Energy reported early production results from three new horizontal Mannville Stack oil wells at its Beaverdam asset in Alberta, with the wells delivering a combined 330 barrels per day over their first week on conservative pump settings designed to minimize equipment wear and allow gradual cleanup. The company also drilled two vertical stratigraphic test wells that have refined geological mapping, confirmed additional drilling inventory and helped define potential pool boundaries, while construction of a new holding tank facility on the Beaverdam pad is expected to add more than 30 barrels per day from existing wells and lift operating netbacks by over $5 per barrel as it scales to service up to 25 wells. Management said the modified production strategy from this second three-well program will inform future drilling and completion plans, and Westgate is now planning to drill nine additional horizontal wells at Beaverdam through the remainder of 2026, potentially increasing the producing well count there to 15 by year-end and reinforcing the asset as a core growth driver under a moderate oil-price outlook.

More about Target Capital

Westgate Energy Inc. is a Calgary-based oil and gas producer focused on the emerging Mannville Stack fairway in northeast Alberta and west-central Saskatchewan, an area characterized by established medium and heavy oil accumulations. The company targets these reservoirs using modern horizontal drilling and completion techniques aimed at improving well performance, capital efficiency and overall project economics in one of Western Canada’s more competitive oil plays.

Average Trading Volume: 69,962

Technical Sentiment Signal: Hold

Current Market Cap: C$16.14M

Find detailed analytics on WGT stock on TipRanks’ Stock Analysis page.