Northwire Canada EditionTuesday, August 25, 2026
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GOLD 4697.80 +0.4% SILVER 68.59 −1.4% COPPER 6.61 +0.3% OIL 85.01 −2.4% PALLADIUM 1359.75 +0.7% NVO 0.070 +0.0% SRA 0.780 +0.0% TUK 0.020 −20.0% GWM 0.610 −4.7% MINE 0.110 +0.0% EGM 0.100 +0.0% IRO 1.11 +2.8% CBR 1.41 +2.5% CTN 0.045 +0.0% GMX 2.06 +2.0% NPR 0.700 −2.8% CGD 1.28 +8.5% CRE 0.390 +13.0% PE 0.250 +0.0% PER 0.150 +7.1% SVRS 0.540 +8.0% GOLD 4697.80 +0.4% SILVER 68.59 −1.4% COPPER 6.61 +0.3% OIL 85.01 −2.4% PALLADIUM 1359.75 +0.7% NVO 0.070 +0.0% SRA 0.780 +0.0% TUK 0.020 −20.0% GWM 0.610 −4.7% MINE 0.110 +0.0% EGM 0.100 +0.0% IRO 1.11 +2.8% CBR 1.41 +2.5% CTN 0.045 +0.0% GMX 2.06 +2.0% NPR 0.700 −2.8% CGD 1.28 +8.5% CRE 0.390 +13.0% PE 0.250 +0.0% PER 0.150 +7.1% SVRS 0.540 +8.0%
Production / Operations Routine +

Wedgemount Reports 62% Increase in Oil & Gas Production

Permian Basin E&P and Uranium Explorer Seeks Production Uplift Amid Capital Constraints

By The Northwire Desk — AI Analysis Jun 23, 2026 · 07:30 WDGY · 0.08 Wedgemount Resources Corp.
Executive Summary
  • Wedgemount Resources reports a 62% increase in total production to an average of 203 BOEPD over the past three weeks.
  • The production surge is driven by the D-29 well, which averaged 34.2 BOEPD (including 27 bbls/d of light oil) over nine days without requiring workovers or major chemical stimulation.
  • The well had been inactive for six years prior to being brought online in mid-June 2026.
  • Management states the company is ahead of internal projections for production since the April 2026 financing.
  • The company plans to optimize existing wells, reactivate eight adjacent inactive wells, and initiate a development plan targeting bypassed pay zones across an inventory of over 500 drilling locations.
  • Operational focus includes surface and subsurface improvements across 22,000 acres to increase production, sales, and reserve recoveries.
Material Impact
  • The production increase validates the efficacy of the April 2026 production enhancement program and the subsequent $1.25M private placement.
  • The D-29 well's performance without stimulation suggests low-cost, high-margin upside from reactivating idle inventory, which aligns with management's stated strategy.
  • However, the absolute production level (203 BOEPD) remains modest for an E&P company, indicating the business is still in a capital-intensive ramp-up phase.
  • The news does not introduce new financial terms, major contracts, or transformative M&A. It is an operational follow-up to previously announced initiatives.
  • Given the company's negative equity and high debt load, any production uplift is critical for cash flow generation, but the current volume is insufficient to service the $4.4M debt or fund the uranium exploration option without further capital raises.
WDGY · Price
Company Overview
  • Wedgemount Resources Corp. is a small-cap energy company focused on oil and gas exploration and production in the Permian Basin (west-central Texas), specifically Runnels and Coleman counties.
  • The company operates 131 vertical production wells and 14 injectors across 22,000 acres.
  • In June 2026, the company expanded into critical minerals by optioning a 3-year, up-to-75% interest in the Breccia Pipe Project (uranium and REE) in Northern Arizona from Myriad Uranium Corp.
  • The company maintains listings on the Canadian Securities Exchange (CSE) and the Frankfurt Stock Exchange (FSE).
  • Strategic focus is on optimizing existing vertical wells, upgrading surface facilities, and exploring bypassed pay zones across an inventory of 500+ locations.
Read the original news release →

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