TSX-V: HME – VANCOUVER, Oct. 19, 2017 /CNW/ – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) is pleased to announce that it has completed its fall drilling program and the expansion of its Atlee Buffalo F pool facility.
Hemisphere successfully drilled six horizontal development wells targeting the Glauconitic Sands of the Upper Mannville F and G pools in the Atlee Buffalo area of southeast Alberta. All six wells were drilled on schedule and encountered excellent reservoir characteristics. Three producers were drilled into the Upper Mannville F pool, and two producers and one injector were drilled into the Upper Mannville G pool. Completion operations are proceeding and production results will be disclosed as they become available.
As part of the development program, the Company completed an expansion of its Atlee Buffalo F pool facility in order to provide additional capacity for new wells and optimize existing production. A SKUD (Inclined Free Water Knockout) was installed as a cost effective way to separate water in order to increase production throughput.
Work is continuing on the construction of a new Atlee Buffalo G pool facility which will allow the Company to handle production from the two new producers in the pool, and enable optimization of existing production from the pool which has been facility constrained.
“We are very pleased with the successful execution of the largest drilling program in Hemisphere’s history,” said Don Simmons, President and Chief Executive Officer. “These new wells, along with the completed facility expansion, are a key step forward in the development of our significant oil assets in Atlee Buffalo and set the Company up for further development in 2018.”
About Hemisphere Energy Corporation
Hemisphere Energy Corporation is a producing oil and gas company focused on developing conventional oil assets with low risk drilling opportunities. Hemisphere plans continual growth in production, reserves, and cash flow by focusing on existing assets with significant growth potential and executing strategic acquisitions. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “HME”.