Energy firm boasts capital accomplishments, including wells in southeast Alberta

By Medicine Hat News on December 11, 2024.

@MedicineHatNews

Hemisphere Energy says it has completed a $9.9-million capital plan in the third quarter that included eight new wells in the Buffalo-Atlee area of southeast Alberta.

That new production boosted the junior exploration company’s daily output by 18 per cent, to 6,300 barrels per day weighted almost entirely to oil.

Vancouver-based Hemisphere recorded income of $26.7 million in the three months ending Sept. 30, a 10 per cent increase from the third quarter of 2023.

It expects to convert two of the new wells north of CFB Suffield to injector sites.

Hemisphere also completed a new oil battery at its site near Marsden, Sask., east of Wainwright, during the summer.

It plans to release its 2025 guidance in early January.

8
-7