Wedgemount is focused on creating sustainable value for shareholders through the development and optimization of distressed and undercapitalized assets throughout Central Texas. The Company’s subsidiary, Wedgemount Texas Corp. has establishedÂ
- Location: 100% concentrated in Runnels, Taylor and Coleman Counties.
- Acquired 131 vertical production wells and 14 injectors. Optimized 23 and restored production on 32 to date.
- Purchases included all related surface facilities which have been upgraded and optimized.
- Well Depths: 3600-4200ft. in a variety of stacked zones including multiple prospective bypassed pay targets.
- Production: 42° API light oil and associated natural gas.
- Pricing: WTI based with variety of local purchasers, marketers and transportation providers.
220
+
Increased boepd
14
Wells Restored To Production
17
Wells Chemically Treated
- Low-cost workovers and proprietary chemical treatments create potential for continued organic production and reserve growth.
- >5x average production growth rate per well after undergoing workovers and chemical treatments.
- Proprietary chemical treatments limit buildup of paraffin, asphaltenes and scale which reduce productivity and ultimate recoveries.
- In-house expertise for potential high value waterflood/EOR enhancing both reserve life and production capability.
- Multiple up hole bypassed zones for further development potential.
- 300+ drilling locations on current leases.
- Core acreage position based in Runnels County allows for operational synergies between assets.
- Large and experienced local workforce based in Abilene TX., 30 miles north.
- Multitude of additional distressed target assets in immediate area.
- Existing long-term relationships with local producers, landowners, and service providers.
- Strong support from local stakeholders due to wide range of economic benefits.