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Hemisphere Energy Corporation has announced that its credit facility has been increased to $15.0 million from $10.5 million, effective November 28, 2014.
This substantial increase comes as a result of significant drilling success and production growth from the Company's 2014 capital program. Hemisphere's next annual review with Alberta Treasury Branches is scheduled in May 2015.
In 2014, Hemisphere successfully drilled 13 wells in its Atlee Buffalo and Jenner core areas. The Company achieved record production and cash flow during the third quarter while reducing operating costs and maintaining a strong balance sheet.
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