Hemisphere Energy Corp.

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 [...]

Hemisphere Energy Corp. is pleased to provide its financial and operating results for the second quarter ended June 30, 2021. During the second quarter, Hemisphere achieved record revenue of $10.1 million, generated adjusted funds flow from operations of $4.2 million , and increased average production by 8% when compared to the previous quarter. Hemisphere's capital expenditures during the quarter were $1.9 million [...]

Hemisphere Energy Corp. is pleased to announce that it has entered into a new extendible two year committed term facility with ATB Financial , providing for borrowings of up to $35,000,000 . As part of entering into the Credit Facility, the Company has fully repaid and terminated its existing term loan with Cibolo Energy Partners . The refinancing resulting from the new Credit Facility is expected to provide additional [...]

Hemisphere Energy Corp. is pleased to announce that the TSX Venture Exchange has accepted the Company's Notice of Intention to renew of its Normal Course Issuer Bid to purchase for cancellation, from time to time, as Hemisphere considers advisable, up to 7,687,830 common shares of the Company, representing approximately ten percent of the current public float of the Common Shares. Purchases of Common Shares will be made [...]

Hemisphere Energy Corp. is pleased to announce that it has commenced injection of polymer into its Atlee Buffalo Upper Mannville G pool. The Company would like to thank all its contractors, service providers, and field staff for their exceptional efforts in completing this project on time and on budget during these unprecedented times. Hemisphere owns and operates two oil pools in the Atlee Buffalo area, and has worked [...]

Hemisphere Energy Corp. announces the results of its annual general meeting of shareholders held Tuesday, June 15, 2021. A total of 28,709,869 common shares were voted, representing 32.65 percent of total shares issued and outstanding as at the record date of the meeting. Shareholders voted in favour of all items put forward by the board of directors and management. All six individuals nominated for the board of directors [...]

Hemisphere Energy Corp. is pleased to provide its financial and operating results for the first quarter ended March 31, 2021. The first quarter of 2021 yielded excellent results for Hemisphere. Production averaged 9% higher than the fourth quarter, as wells started to respond to injector conversions done late in 2020. Production has since climbed even further, averaging over 1,800 boe/d to date in the second quarter [...]

Hemisphere Energy Corp. is pleased to provide an update on its Upper Mannville G pool polymer project in the Atlee Buffalo area of southeast Alberta. Hemisphere has made significant progress on the construction work at its G pool facility that will allow the Company to convert its currently active waterflood into a polymer flood. Hemisphere is awaiting the delivery of its specialized polymer skid, scheduled in early June [...]