Apr 26, 2023
Hemisphere Energy Corporation positioned for long-term success in southeast Alberta
- Hemisphere Energy is breathing new life into used equipment and conventional oil pools
- The company’s low decline, long life and high value reserves are a sign of the tremendous resource the company has been developing over the past number of years
Hemisphere Energy Corporation (TSXV:HME), a winner on this year’s Venture 50 list, is a Canadian oil company focused on sustainable growth of its high netback, low decline conventional heavy oil assets through enhanced recovery methods. Hemisphere is dedicated to creating shareholder value by following its core principles of building a company that is simple, clean, profitable, and unique.
Hemisphere specializes in the development of conventional oil pools using enhanced oil recovery methods such as waterflood and polymer flood to maximize production and oil recovery. Their team focuses on delivering production growth with low-cost operations, nominal decline rates, and a minimal environmental footprint.
Its oil assets are in southeast Alberta, Canada and are 100% owned and operated by Hemisphere. The company is developing two significantly sized oil pools in our core area of Atlee Buffalo.
Hemisphere Energy’s resource: Atlee Buffalo Core Area
In the Atlee Buffalo area, Hemisphere produces oil from two conventional heavy oil pools. The oil reservoirs are part of the Glauconitic Formation of the Mannville Group. Hemisphere currently has operational waterfloods in both pools, but is converting one of the waterfloods to polymer flood this spring in order to improve recovery. Horizontal wells with slotted liners are utilized to produce and inject into the pools, and due to exceptional reservoir quality no fracs are required.
To learn more about Hemisphere Energy Corporation’s investment proposition, visit their website here.
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The 2023 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange over the last year. The ranking is composed of 10 companies from each of the five industry sectors and are selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume.
For the full 2023 TSX Venture 50 ranking, methodology and profile videos of companies included in the ranking, visit: www.tsx.com/venture50