Wedgemount Resources is driving low-cost growth in the Permian Basin with innovative strategies

Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.

Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) said on Tuesday it has appointed Simon Clarke to its board of directors.

Clarke has nearly three decades of experience in the energy, mining, and energy technology sectors, Wedgemount told shareholders, and was a co-founder and executive at Osum Oil Sands Corp, which grew into a 20,000-barrel-per-day oil producer before its $400 million acquisition by Waterous Energy Fund in 2021.

He also served as CEO of American Lithium, where he led the company through a period of rapid growth, culminating in a peak market valuation of around $1.2 billion.

“On behalf of everyone at our company, I’m excited to welcome Simon to the team,” said Wedgemount CEO Mark Vanry. “Simon’s experience building Osum from an E&P startup into a mid-tier heavy oil producer will prove invaluable to Wedgemount as we embark on a similar journey.”

Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) has announced plans for a non-brokered private placement of up to 12 million units priced at $0.065 each, for total gross proceeds of up to $780,000.  

The company intends to use the net proceeds from the private placement for general working capital.

Wedgemount Resources Corp (CSE:WDGY, OTCQB:WDGRF) CEO Mark Vanry talked with Proactive about the company's recent operational updates in central Texas.

Following extreme winter weather that caused temporary shutdowns, the company has resumed production and is now focused on optimizing newly acquired wells.

Wedgemount Resources CEO Mark Vanry joined Steve Darling from Proactive to provide an operational update on the company’s West Central Texas oil and gas assets. Vanry highlighted significant advancements in Wedgemount’s enhancement and remediation program for the recently acquired producing oil and gas assets, known as Huggy, located in West Central Texas. As part of the operational improvements, the company has repaired and replaced natural gas transmission flow lines where necessary, allowing for gas sales to third-party purchasers.

This marks a critical step toward optimizing production and monetizing resources. Additionally, certain gas wells have been reclassified as oil wells with the Texas Railroad Commission (RRC) following successful chemical treatments that enhanced oil production rates. Wedgemount also completed required compliance work with the RRC, which included well testing and ensuring adherence to operational regulations. Vanry noted that the company has initiated chemical treatments for wells, formations, and surface facilities, with plans to continue this program throughout 2025 to sustain and enhance production capacity.