Based on field estimates, corporate production has averaged approximately 1510 boe/d (97% oil) during the week of September 15th-21st. This production number does not include the final two new wells from the 11 well summer drill program, which are scheduled to come on production by the end of September.
Hemisphere also expects its Upper Mannville G pool facility expansion to be complete by the end of September, with start-up of the new SKUD (inclined free water knockout) and oil treater planned for the first week of October. Management anticipates additional growth in production rates from both of its Atlee Buffalo pools through the fourth quarter as wells continue to clean up and the facilities are optimized following their recent expansion work.
Don Simmons, President and CEO of Hemisphere, will be representing the Company at its exhibitor booth at the Schachter Energy Conference to be held on Saturday September 29, 2018, at the TELUS Convention Centre in Calgary, Alberta.
Please see our website at www.hemisphereenergy.ca for the company’s updated corporate presentation.
About Hemisphere Energy Corporation
Hemisphere Energy Corporation is a producing oil and gas company focused on the development of low risk conventional oil assets for minimal capital exposure by drilling known pools of oil and optimizing waterflood projects. Hemisphere plans continued growth in production, reserves, and cash flow by drilling existing projects and executing strategic acquisitions. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “HME”.