WEL
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Company News
Bast well workover provides ‘strong encouragement’ for Winchester Energy
Restart of Winchester Energy’s (ASX: WEL) field work at its East Permian Basin oil acreage in Texas has already generated encouraging results after a workover of Bast #1. Winchester has completed a workover of its 92%-owned Bast #1 well which included a recompletion and fracture stimulation in the Upper Cisco Formation. According to Winchester, the […]
Winchester Energy to restart exploration and development across Texan oil leases
Winchester Energy (ASX: WEL) is poised to restart exploration and development at its Texan leases including drilling the Bast Deep prospect, followed by more drilling in the Mustang oil field and a workover program of existing wells. The global COVID-19 pandemic triggered an operational hiatus for Winchester in 2020, which holds an extensive lease position […]
Winchester Energy updates reserves as oil prices buoy performance
Texas oil and gas operator Winchester Energy (ASX: WEL) reports that a reserves and resources audit places its total proved, probable and possible (3P) reserves at 495,800 barrels of oil equivalent (boe). That is broken down to 383,900bbls of oil and 671.8 million cubic feet (mmscf) of gas. In its announcement, Winchester notes the audit “confirms the […]
Winchester Energy buoyed by rising global oil prices
Texas producer Winchester Energy (ASX: WEL) netted $503,876 in the December quarter, a result assisted by recovering global oil prices. Its average sale price per barrel of oil was US$37.81. Oil prices have continued to improve since the end of the quarter and overnight in the US West Texas Intermediate (WTI) futures had risen past […]
Winchester Energy starts tests on Bonus Sands play at Texas oil and gas project
Winchester Energy (ASX: WEL) will begin work this week on what it has described as a potentially “transformational” test of the Bonus Sands unit within its White Hat 3801 oil well in Texas. The program will test previously unmapped sands in the shallower formation than were the targets in the original drilling four years ago. […]
Winchester Energy targets Texas oil that previous explorers may have missed
Winchester Energy (ASX: WEL) is planning a “transformational” test of what it calls the Bonus Sands play within its White Hat oil well in Texas, United States. The Three Fingers shale at the White Hat 3801 well contains a series of thin sandstones and sand laminations (the Bonus Sands) within a gross interval of 60 feet […]
Winchester Energy steps up Texas production — re-entering oil well, connecting more wells for gas
Winchester Energy (ASX: WEL) will re-enter an existing oil well, White Hat 2004, by the end of the week and re-complete it for production from a previously untested zone. The company is also moving to take advantage of an improving gas market by connecting four existing oil wells to gas production. Winchester Energy’s ground is […]
Winchester Energy implements cost saving strategies for Mustang oil field
The current COVID-19 crisis and a recent collapse in oil prices has seen Australian onshore exploration and production company Winchester Energy (ASX: WEL) make moves to increase efficiencies and preserve revenue at its 71 square kilometre landholding in the Nolan County area of Texas. The strategy aims to bolster Winchester’s viability in a low price […]
Winchester Energy books Permian Basin oil reserves, lifts resources
US-focused oil and gas player Winchester Energy (ASX: WEL) has announced a significant upgrade to its East Permian Basin oil reserves and resources following a recent independent estimate. The onshore explorer and producer today revealed its net interest share of a 17,560-acre lease holding in Texas has been estimated to hold a combined 11.2 million […]
Winchester poised to benefit from oil price bounce with expanded production base, $5.4m in cash
Winchester Energy (ASX: WEL) has significantly expanded its Texas production base in just over 12 months as well as adding two new production horizons. The company is now poised to benefit from improvements in oil prices based on a large lease position with low holding costs, describing its 17,500 acres (7,081 ha) as an “opportunity-rich […]
