Whitebark Energy (ASX:WBE) - Managing Director, David Messina
Managing Director, David Messina
Source: Business News
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  • Whitebark Energy (WBE) has completed the installation of a new pump at its Wizard Lake property in Alberta, Canada
  • The site’s Rex-3 well, which had been running steadily for six months, was paused while the installation was in progress
  • The new bottom hole pump and rods are expected to reinvigorate the well and assist with oil and gas recovery
  • Over the next few months, the company will test the pump at numerous speeds and configurations to maximise efficiency
  • Whitebark Energy stock is steady at market open, trading for 0.3 cents per share

Whitebark Energy (WBE) has completed the installation of a new pump at its Wizard Lake property in Alberta, Canada.

The site’s Rex-3 well, which had been running steadily for six months, was paused while the installation was in progress. The new bottom hole pump and rods are expected to reinvigorate the well and assist with oil and gas recovery.

With the installation complete, the well is now cycling at four strokes per minute and has been optimised for performance. All three of the company’s Rex wells are now fitted with pumping units.

Over the next few months, the company will test the pump at numerous speeds and configurations to improve efficiency. After testing other wells at the site in this way, the company believes each area at Wizard lake poses varying characteristics and, therefore, requires individualised well settings.

With that in mind, recent testing at Rex-3 confirmed that fluid recovery should continue to increase as this optimisation process evolves and the well hits a greater reservoir drawdown. The company plans to update shareholders as the well’s productivity and optimisation stats improve.

David Messina, Managing Director said he was pleased to have Rex-3 back on-line and pumping oil to the company’s facilities.

“It will take some time before we optimise the well under pump and, from our experience from the other wells, it is best to take a conservative approach,” David stated.

“We are, however, looking forward to maintaining a steady income stream from the field over the coming months,” he said.

Whitebark Energy stock is steady at market open, trading for 0.3 cents per share at 10:36 am AEST.

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