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Be the first with the news that moves the market- Whitebark Energy (WBE) has completed the expansion to the Wizard Lake Oilfield
- The expanded facility will now be capable of handling 5,000 barrels of fluid a day, along with 5 million standard cubic feet per day
- Oil and gas have commenced flowing through the new facilities from Rex-1 and 2
- Rex-3 is continuing to cleanup operations through satellite test facility
- Whitebark Energy is up 8.33 per cent on the market today and is trading at 1.3¢ per share
Whitebark Energy (WBE) has completed the expansion to the Wizard Lake Oilfield.
Works commenced on November 6 and were completed at the end of last week.
The expanded facilities will be capable of handling 5,000 barrels of fluid a day, along with 5 million standard cubic feet per day.
Oil and gas have commenced flowing through the new facilities from Rex-1 and 2, while Rex-3 is continuing to cleanup operations through satellite test facility.
The wells will continue to clean up over the next few weeks and the company will be updating the market on flow rates as this occurs.
Managing Director David Messina is pleased with completion at the site.
“Under trying conditions the team have managed to complete the facility and pipeline work on schedule and we are now able to monetise the extremely successful wells we have drilled at our Wizard Lake oilfield,” David said.
“Our objective was to have all wells producing by the end of 2019 and we have now achieved that which is a very rewarding finish to a busy year,” he added.
Oil will continue to be trucked to the market while gas will be sent through the recently completed gas pipeline to the nearby Petrus operated gas processing facility and then on to the market.
Whitebark Energy is up 8.33 per cent on the market today and is trading at 1.3¢ per share at 11:24 am AEDT.
