Quarterly / Earnings Reports | Production | Fourth Quarter (4Q) Update | Reserves
Hemisphere Boosts Reserves by 549 MBOE; Talks 2016 Results
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Hemisphere Energy reported its year-end 2016 results.
2016 Annual Highlights: Achieved 527 boe/d (86% oil) production during the year. Added 823 Mboe of Proved plus Probable reserves, replacing 427% of 2016 production. Increased Proved reserves by 13% to 3.1 million boe (96% oil), with a net present value of $45.7 million (NPV10 BT). Added 549 Mboe of Proved reserves, replacing 285% of 2016 production. Initiated the third enhanced oil recovery waterflood pilot project in the Atlee Buffalo Upper Mannville F Pool. Drilled and placed on production Hemisphere’s first producing well in the Atlee Buffalo Upper Mannville G Pool. Fourth Quarter 2016 Highlights: Achieved average production rate of 590 boe/d (91% oil), representing a 14% increase over the third quarter of…- ✓ Full news archive — U.S., Canada & international coverage
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