Exploration & Production
Hemisphere Adds 10 Wells to Atlee Buffalo Plans
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Hemisphere Energy Corporation has announced its expanded capital expenditure plans for the remainder of 2014 as a result of the recently closed $10 million financing.
Hemisphere plans to drill up to 10 additional wells in the remainder of 2014, bringing the total for the year up to 13 wells. The Company will also optimize, workover and recomplete a number of existing wells, acquire 3D seismic to assist in defining future drilling locations, and continue to build its land holdings with growth potential.
With the positive results of Hemisphere's first Atlee Buffalo horizontal well achieving a 90 day production rate of approximately 90 boe/d (93% oil), the Company will focus on further development in the Atlee Buffalo area. Hemisphere anticipates a five well summer drilling program to…
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