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Hemisphere Starts EOR Pilots at Atlee-Buffalo; Hits 776 BOE/d
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Hemisphere Energy Corporation reported its financial and operating results for the year ended December 31 , 2015.
Key Points: Three enhanced oil recovery pilot projects were implemented in Atlee Buffalo, additional fluid handling capacity was installed in Jenner Achieved 776 boe/d (78% oil) production during the year, a record annual production rate for the Company.Through 2015 Hemisphere focused on reducing administration and operating costs while at the same time developing its assets to maximize reserve additions with minimal capital. The Company successfully concentrated on its core properties in southeastern Alberta where three enhanced oil recovery pilot projects were implemented in Atlee Buffalo and additional fluid handling capacity was installed in Jenner. These projects…
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