09:00 AM EDT, 08/06/2024 (MT Newswires) -- Westgate Energy (WGT.V) on Tuesday confirmed the successful drilling of two wells as part of the initial portion of its second half 2024 drilling campaign.

A statement noted this summer program consisted of two horizontal multi-lateral oil wells drilled at the company's core Killam property in Eastern Alberta.

Tuesday's statement said the program's first well (16-15) was successfully drilled using a four-leg, open-hole horizontal design targeting the Mannville Sparky Formation. The well was drilled in eight days from spud to rig release, resulting in the drilling costs coming in under budget, with a total of 5,056 metres of lateral length drilled within the Sparky Formation.

The program's second well (11-21) was also drilled in eight days from spud to rig release, also coming in under budget, with a total of 5,140 metres of lateral length drilled in the Sparky Formation.

Westgate anticipates releasing a report on the production rates of these two new wells in late September. A third well at its Killam Field is planned for the fourth quarter of this year, which is also expected to contribute to the previously announced 2024 exit rate of 450-500 boe/d.