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Target Capital ( (TSE:WGT) ) just unveiled an announcement.
Westgate Energy Inc. has completed its fall drilling program in the Beaverdam area of Alberta, successfully drilling two vertical stratigraphic test wells and three horizontal wells targeting the Mannville Stack horizons. The program was executed under budget, achieving a 25% cost reduction and a four-day decrease in drilling time per well compared to previous projects. The wells are expected to be operational by mid-December, and the data gathered will inform the company’s 2026 drilling program, enhancing their geological mapping and inventory definition.
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 region is known for its established medium and heavy oil accumulations. The company utilizes modern horizontal drilling and completion techniques to unlock these reservoirs, which have significantly improved well performance and capital efficiency, delivering strong oil well economics in Western Canada.
Average Trading Volume: 130,272
Technical Sentiment Signal: Hold
Current Market Cap: C$16.14M
For an in-depth examination of WGT stock, go to TipRanks’ Overview page.