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Winchester Energy Ltd ( (AU:WEL) ) has issued an update.
Winchester Energy Limited has commenced drilling the JVU-5 production well in the Varn waterflood project in Taylor County, Texas. This development is part of a joint venture where Winchester holds a 70% working interest. The project aims to enhance oil recovery through a planned operation of 10 wells, including both producers and injectors, leveraging existing infrastructure to expedite production. This initiative underscores Winchester’s strategic commitment to maximizing value from its US operations, with the Varn Oil Field containing significant proven and probable reserves.
More about Winchester Energy Ltd
Winchester Energy Limited operates in the oil and gas industry, focusing on exploration and production activities. The company is engaged in developing projects in the United States, with a particular emphasis on the Varn waterflood project in Texas.
Current Market Cap: A$3.41M
Learn more about WEL stock on TipRanks’ Stock Analysis page.