CALGARY, AB, March 3, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") (TSXV: FHR.V) is pleased to provide an operations update on its acquired Ferrier property (the "Acquired Assets").
OPERATIONS UPDATE
Fiddlehead continues to focus on well and facility operations of the Acquired Assets, with the Company having wellsite monitoring systems and personnel now in place. Fiddlehead has identified several optimization opportunities in existing wellbores that it anticipates pursuing. The Company is leveraging its technical expertise in Central Alberta to optimize operations and grow production from existing well bores, while planning for future development of liquids-rich drilling targets on the acquired acreage. Q4 2024 production averaged 1,625 BOE/d (8% light oil, 23% condensate and NGL's, and 69% conventional natural gas), which met internal forecasted production. The Company's believes its portfolio of assets present an opportunity to generate shareholder value, with an asset base that boasts an inventory of well optimizations and drilling locations that provide exposure to oil, liquids, and natural gas production. The Company continues to work with the vendor and AER as it relates to transfer arrangements of the Acquired Assets.
Fiddlehead anticipates providing additional details regarding its preliminary 2025 operating budget and guidance on or before the release of its annual results for 2024.
Read the full news release here.
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