Hemisphere Energy Announces 2021 Fourth Quarter and Year-End Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2022) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to provide its financial and operating results for the fourth quarter and year ended December 31, 2021.2021 HighlightsIncreased 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 (AFF) of $18.5 million, a...
2022-04-21 8:00 AM EDT
Hemisphere Energy Grows Proved Reserve Value by 63% to $276 Million and Proved Net Asset Value to $2.43 per Fully Diluted Share
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2022) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to announce highlights from its independent reserves evaluation (the "Reserve Report"), prepared by McDaniel & Associates Consultants Ltd. ("McDaniel") 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 ("G pool"), and upgrading facilities...
2022-03-16 8:00 AM EDT
Hemisphere Energy Named to 2022 TSX Venture Exchange Top 50 Performers
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2022) - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") is pleased to announce that it has been named as one of the top performers on the TSX Venture Exchange (the "TSXV" or "the 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...
2022-02-24 8:00 AM EST
Hemisphere Energy Provides Operations Update with Four New Wells on Production
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2022) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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 (99% heavy crude oil; based on field estimates between Jan 23rd -...
2022-02-08 8:00 AM EST
Hemisphere Energy Provides Operations Update and Corporate Guidance
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2022) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to announce an update on its operations and provide corporate guidance for 2022.Operations UpdateDuring 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 (99% heavy crude oil). This brought the Company's average...
2022-01-18 8:00 AM EST
Hemisphere Energy Completes Fourth Quarter 2021 Drilling Program
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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...
2021-12-20 8:00 AM EST
Hemisphere Energy Accelerates 2022 Drilling Program
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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...
2021-11-25 7:00 AM EST
Hemisphere Energy Reports 2021 Third Quarter Financial and Operating Results and Provides Update on Operations
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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 HighlightsDuring 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....
2021-11-18 7:00 AM EST
Hemisphere Energy Commences Fall Drilling Program
Vancouver, British Columbia--(Newsfile Corp. - September 15, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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...
2021-09-15 8:00 AM EDT
Hemisphere Energy Announces 2021 Second Quarter Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - August 17, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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 (AFF) of $4.2 million ($26.03/boe), and increased average production by 8% when compared to the previous quarter. Hemisphere's capital expenditures during the quarter were $1.9 million, including the construction,...
2021-08-17 7:00 AM EDT
Hemisphere Energy Establishes New $35 Million Credit Facility and Announces Early Payout of Its Term Loan
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF)("Hemisphere" or the "Company") is pleased to announce that it has entered into a new extendible two year committed term facility with ATB Financial (the "Lender"), providing for borrowings of up to $35,000,000 (the "Credit Facility"). As part of entering into the Credit Facility, the Company has fully repaid and terminated its existing term loan with Cibolo Energy Partners (the "Former Term Loan"). The refinancing resulting...
2021-07-28 8:00 AM EDT
Hemisphere Energy Announces Normal Course Issuer Bid
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2021) - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted the Company's Notice of Intention to renew of its Normal Course Issuer Bid (the "NCIB") to purchase for cancellation, from time to time, as Hemisphere considers advisable, up to 7,687,830 common shares ("Common Shares") of the Company, representing approximately ten percent (10%) of the current public float of the...
2021-07-14 9:00 AM EDT
Hemisphere Energy Announces Start-Up of Polymer Injection in Atlee Buffalo
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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...
2021-06-29 4:30 PM EDT
Hemisphere Energy Announces AGM Results
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2021) - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") announces the results of its annual general meeting of shareholders (AGM) 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...
2021-06-15 6:15 PM EDT
Hemisphere Energy Announces 2021 First Quarter Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") 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...
2021-05-19 5:40 PM EDT
Hemisphere Energy Provides an Operations Update on Its Atlee Buffalo Polymer Project
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQB: HMENF) ("Hemisphere" or the "Company") 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...
2021-05-06 7:00 AM EDT
Hemisphere Energy Announces 2020 Fourth Quarter and Year-End Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to provide its financial and operating results for the fourth quarter and year ended December 31, 2020. For Hemisphere, 2020 was a year of strengthening the balance sheet by cutting capital, reducing costs, maintaining year over year production rates, and paying down nearly 25% of its previously outstanding year-end debt. Despite spending only $1.7 million in capital during...
2021-04-28 7:41 PM EDT
OTC Markets Group Welcomes Hemisphere Energy to OTCQX
Vancouver, British Columbia--(Newsfile Corp. - April 6, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to announce that effective April 6, 2021, it will commence trading on the OTCQX Venture Marketplace ("OTCQX") under the symbol "HMENF". U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial...
2021-04-06 8:00 AM EDT
Hemisphere Energy Provides Operations Update and Corporate Guidance
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQB: HMENF) ("Hemisphere" or the "Company") is pleased to announce an update on its operations and provide corporate guidance for 2021 and 2022.Operations Update and Development PlansDuring the first quarter of 2021 Hemisphere has seen an overall increase in production from its fourth quarter injector conversions. Month-to-date production has averaged 1,850 boe/d (99% heavy oil, based on field estimates between March 1-28, 2021).Hemisphere is excited to...
2021-03-31 8:00 AM EDT
Hemisphere Energy Grows Proved Reserves by 18% and Proved Plus Probable Reserves by 22%
Vancouver, British Columbia--(Newsfile Corp. - March 11, 2021) - Hemisphere Energy Corporation (TSXV: HME) (OTCQB: HMENF) ("Hemisphere" or the "Company") is pleased to announce highlights from its independent reserves evaluation (the "Reserve Report"), prepared by McDaniel & Associates Consultants Ltd. ("McDaniel") and effective as at December 31, 2020. During 2020 Hemisphere incurred capital expenditures of $1.7 million and maintained average production year-over-year at approximately 1,700 boe/d (99% heavy crude oil). The Company's main focus in 2020 was to reduce debt...
2021-03-11 8:00 AM EST