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.

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