01:07 PM EDT, 09/17/2025 (MT Newswires) -- Westgate Energy ( WGTFF ) on Wednesday said three new horizontal wells at its Beaverdam asset in northeast Alberta are producing ahead of expectations.

The wells, drilled in June and July and brought on stream August 15, had been forecast to peak at about 110 barrels per day each. The company said current output exceeds those estimates, with the three wells averaging about 468 barrels per day over the past week.

Corporate production now totals roughly 740 barrels of oil equivalent per day across Beaverdam and its Killam/Richdale properties.

Westgate said the early performance supports its inventory of future drilling locations at Beaverdam, and a stratigraphic test has also identified additional prospective horizons. A follow-up drilling program is planned for later in 2025.

"We are currently planning another drill program at Beaverdam later this year to continue to build on our recent success," chief executive Dan Brown said.

Shares of Westgate Energy ( WGTFF ) were last seen up $0.025 to $0.19 on the TSX Venture Exchange.

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