Hemisphere Energy Corp. is pleased to provide an update on its renewed credit facility, operations, revised annual guidance, and return to shareholder plan. Credit Facility Hemisphere has completed the renewal of its extendible two year committed term facility with ATB Financial, providing for borrowings of up to $35,000,000 . As was announced with the latest quarterly financials, the Company exited the first quarter with [...]
Hemisphere Energy Corp. provides its financial and operating results for the first quarter ended March 31, 2022. Q1 2022 Highlights Produced a record quarterly average of 2,648 boe/d, a 60% increase over the first quarter of 2021. Attained record quarterly revenue of $22.9 million, a 190% increase over the first quarter of 2021. Delivered an operating field netback1 of $64.89/boe, 80% higher than the first quarter of [...]
SNN Network presents the Planet MicroCap Showcase taking place on May 3-5, 2022, where 88 MicroCap public and private companies will be presenting at Bally's Hotel & Casino in Las Vegas. The Planet MicroCap Showcase begins on Tuesday, May 3, 2022 with the "MicroCap Investing Workshop" starting at 12:00pm PST and featuring well-known financial influencers, investors, fund managers, and key opinion leaders, followed by 88 [...]
Hemisphere Energy Corp. is pleased to provide its financial and operating results for the fourth quarter and year ended December 31, 2021. 2021 Highlights Increased annual production to record levels of 1,820 boe/d, and exited 2021 with a December production average of 2,400 boe/d. Attained record annual revenue of $43.1 million, a 131% increase over 2020. Realized record annual adjusted funds flow from operations of [...]
Hemisphere Energy Corp. is pleased to announce highlights from its independent reserves evaluation , prepared by McDaniel & Associates Consultants Ltd. and effective as at December 31, 2021. In 2021, Hemisphere invested $12 million in its Atlee Buffalo core area, including drilling seven wells, implementing a polymer flood in the Upper Mannville G oil pool , and upgrading facilities to accommodate additional oil [...]
Hemisphere Energy Corp. is pleased to announce that it has been named as one of the top performers on the TSX Venture Exchange . Each year, the TSXV 50 celebrates the top achievers on the Exchange over the last year. Comprised of 10 companies from each of five industry sectors, the ranking recognizes the strongest performance on the Exchange based on market capitalization growth, share price appreciation, and trading [...]
Hemisphere Energy Corp. is pleased to announce an update on its operations. During the first half of January, Hemisphere brought four new Atlee F pool wells online that had been drilled at the end of the fourth quarter. Corporate production including these new wells has averaged approximately 2,635 boe/d over the past two weeks . This represents record production for the Company, and is a direct result of Hemisphere's [...]
Hemisphere Energy Corp. is pleased to announce an update on its operations and provide corporate guidance for 2022. Operations Update During the fourth quarter of 2021 Hemisphere was very active in the field with facility expansion, production optimization, and drilling operations. Based on field estimates, corporate production for the month of December was approximately 2,400 boe/d . This brought the Company's average [...]
Hemisphere Energy Corp. is pleased to announce that it has completed its successful drilling operations in the Atlee Buffalo area of southeast Alberta. Earlier in the fourth quarter Hemisphere decided to accelerate a portion of its 2022 capital spending due to rig availability concerns and anticipated cost increases across the industry next year. While the Company has now finished drilling these four development wells in [...]
Hemisphere Energy Corp. is pleased to provide an update on its drilling operations in the Atlee Buffalo area of southeast Alberta. Due to rig availability constraints and projected cost increases in 2022, Hemisphere has recently accelerated a portion of its 2022 capital spending plans and commenced a drilling program in the Atlee F pool for up to 4 wells during the fourth quarter of 2021. Hemisphere anticipates that the [...]
Hemisphere Energy Corp. is pleased to provide an operations update and its financial and operating results for the third quarter ended September 30, 2021. Third Quarter 2021 Financial and Operating Highlights During the third quarter, Hemisphere invested just over $3.3 million in its Atlee Buffalo field operations. The majority of capital expenditures included a successful three well drilling program in the Atlee G Pool [...]
Hemisphere Energy Corp. is pleased to announce that it has commenced a three-well drilling program in the Atlee Buffalo G pool, in southeast Alberta. All three wells are being drilled from the same pad and are expected to be placed on production by mid-October. Hemisphere's last drilling program was in 2019 when 11 wells were drilled into the pool, of which four were subsequently converted to injectors. Average corporate [...]
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