Calgary, Alberta – WesCan Energy Corp. (TSXV: WCE) (“WesCan” or the “Company“) is pleased to announce that it has completed the equipping and tie-in of its recently drilled well, (the “well”) at Provost, Alberta.
On September 15, 2022, the Company announced that drilling had commenced and the new well spudded on September 13, 2022. The vertical section was completed to a depth of approximately 490 meters and the build section of the well was drilled, cased and completed.
On October 5, 2022, the Company announced that it was proceeding with the completion and tie-in of the well through its wholly owned infrastructure and production facility. The well was subsequently placed on production on October 28, 2022 upon the Company’s completion of its extensive field turn-around program pursuant to the regulatory maintenance requirements of the Alberta Boilers Safety Association, (“ABSA”). The turn-around was conducted over a period of 10 days while the well was being completed for production. During this time, the Company experienced certain operational delays as a result of various service providers, equipment and materials not being readily available. An alternative source of power was also achieved at a considerably reduced cost to sustain power to the new well.
The well has been cleaning-up as expected, with the recovery of drilling fluids that were used during the drilling phase prior to receiving any productive hydrocarbons from the well. This process continues to-date, however, the well is now producing higher volumes of oil with noticeably lower traces of drilling fluids with minimal water cuts. The well continues to be monitored as the well has been subject to a few operational issues at the battery as the treater was experiencing high volumes of oil during its initial stages of production. Such issues have now been resolved and the stroke rate of the pumpjack was reduced to provide a more stabilized flow rate. As the well continues to gradually increase its flow of oil production, the well is being monitored daily as the Company expects to increase the stroke rate to establish the overall potential and capability of the well. The Company is also conducting periodic fluid level shots to further optimize the performance of the well and to evaluate the Company’s type well curve expectations.
Further updates will be announced as the data from the well becomes available over the next 30 days which will provide a more defined and consecutive flow rate of oil production. All updates and press releases are available on the Company’s website at www.wescanenergycorp.com.