Whitebark Energy Ltd (AU:WBE) has released an update.
Whitebark Energy Ltd has announced the successful return to production of its Wizard Lake oil and gas field, with Rex-1 and Rex-2 wells now operational and contributing to a combined daily production rate of 120 barrels of oil and an equivalent amount of gas. Following the field’s partial divestment and strategic shift towards renewable energy, the company anticipates positive cash flow from Wizard Lake to support its Australian geothermal and hydrogen projects. The workover of Rex-3 is expected to further increase production, reinforcing Whitebark’s commitment to both its traditional energy assets and its burgeoning renewable portfolio.
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