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Permian Basin Assets

Permian Basin

Willowbend, Millican, & TCS

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 established a new core position on the Eastern Shelf of the Permian Basin with the recent acquisitions of the Willowbend, Millican and TCS oil leases.

A Clear Vision for West Central Texas Exploitation

Asset Summary

  • Location: 100% concentrated in Runnels, Taylor and Coleman Counties.
  • Acquired and restored 27 wells including 25 producing conventional vertical wells and two injectors.
  • 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.
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Increased boepd
Wells Restored To Production
Wells Chemically Treated

Optimization, Growth & Increased Productivity

  • Low-cost workovers and proprietary chemical treatments create potential for continued organic production and reserve growth.
  • >5x average production growth rate per well to date per well post chemical treatments.
  • Proprietary chemical treatments limit buildup of paraffin, asphaltenes and scale which reduce productivity and ultimate recoveries.
  • Restored production on 8 wells and refurbished surface equipment across all leases.
  • 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.
  • 50+ drilling locations on current leases.

Building Central Texas Core Area

  • 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.