Westgate Energy Revives Momentum with Q2 Growth
Westgate Energy, a small East-Central Alberta oil producer, has regained attention in the junior-energy space with its second-quarter update. The company reported a significant increase in production, reaching 610 boe/d in Q2 2026, up 141% from the same quarter last year.
The growth is attributed to a more oil-weighted production mix and firmer pricing, which has resulted in a wider operating netback of $45.35 per boe. Westgate's revenue for the quarter reached $5.24 million, with an operating income of $2.5 million, compared to just $0.5 million in Q2 2025.
The company invested $7.0 million in property and equipment during the quarter, bringing its capital spending to $8.8 million for the first half of the year. Much of this investment went into drilling two wells at Beaverdam, where Westgate is focused on establishing scale quickly.
Beaverdam remains the company's production heartland, contributing around 590 barrels per day. The C4S well was producing about 40 barrels per day with forecast potential of 75 barrels per day, while the C3S well produced roughly 25 barrels per day and is slated for a sidetrack in Q1 2027.