Northwire Canada EditionThursday, October 15, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4% GOLD 4107.90 −1.7% SILVER 55.88 −6.1% COPPER 6.62 −1.6% OIL 95.09 +1.0% PALLADIUM 1096.50 −2.7% CIA 2.64 −0.4% BTO 7.09 −4.3% MCI 0.155 +0.0% CAN 0.065 +0.0% BLDS 0.335 +8.1% SAO 0.050 +0.0% SF 0.315 +0.0% BEA 0.055 −15.4% BMM 3.90 +11.1% AUGC 0.295 −13.2% MFG 3.34 −3.8% CDE 21.33 −7.7% CYG 0.160 −5.9% RSMX 0.100 −4.8% TUF 0.830 −5.7% GPG 0.285 −3.4%
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 →

More from Wedgemount Resources Corp.

Jun 09, 2026 · 08:15

Permian Basin E&P operator pivots to uranium/REE exploration via Arizona option agreement.

Drill Results Jun 02, 2026 · 02:00

Wedgemount Announces Operational Update

Production / Operations Apr 29, 2026 · 02:01

Wedgemount Resources Corp.

Production / Operations Apr 17, 2026 · 02:00

Wedgemount Mobilizes Capital for Permian Revival Amidst Dilution Concerns

Production / Operations Apr 14, 2026 · 08:30

Wedgemount Resources Expands Capital Access with Frankfurt Listing Amid Permian Production Push

Regulatory Apr 10, 2026 · 16:12

Wedgemount Secures Minor NRI Financing Amidst Solvency Concerns

Financings