Fiddlehead Resources Corp. 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.
ABOUT FIDDLEHEAD RESOURCES CORP.
Fiddlehead is committed to creating value for its shareholders through sustainable low decline production management, continued development of infill drilling locations, and targeted consolidation acquisitions in its chosen core area of Central Alberta. The Company’s culture is centered on safely and responsibly developing its oil and gas assets in a way that profitably grows its production and reserve base. The Company has established a portfolio of high-quality production and development opportunities in the Central Alberta fairway with a focus on Cardium and Belly River horizons. Fiddlehead will focus on the execution of the Company’s organic drilling program in the Central Alberta fairway, delivering operational synergies in a respectful and responsible manner to the environment and communities it operates in. The Company is positioned to continue pursuing development and optimization in the Ferrier area by growing and developing its asset base, and seeks to consolidate the Central Alberta fairway.
Fiddlehead will be providing an updated corporate presentation late in Q1 2025, and it will be available on the Company’s website at www.fiddleheadresources.com.
Google Play and the Google Play logo are trademarks of Google LLC.
