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An announcement from Winchester Energy Ltd ( (AU:WEL) ) is now available.
Winchester Energy Limited has announced the commencement of production from its JVU-5 well at the Varn Oil Field in Texas. The well, which is the second oil producer in the Varn waterflood project, has achieved an initial production rate of 25 barrels of oil per day. This development is part of a larger plan to enhance production through a series of wells, with the next phase involving the drilling of a water injection well in early 2026, indicating the company’s strategic efforts to boost output and operational capacity.
More about Winchester Energy Ltd
Winchester Energy Limited is an energy company operating in the oil and gas industry, focusing on the development and production of oil fields. The company is listed on the Australian Securities Exchange under the ticker ASX: WEL and is involved in projects such as the Varn Oil Field in Taylor County, Texas.
Current Market Cap: A$2.73M
Learn more about WEL stock on TipRanks’ Stock Analysis page.