Exploration & Production
Hemisphere's New Wells Targeting Oily Glauconitic Formation
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Hemisphere Energy Corporation has successfully drilled two additional oil wells in Jenner, southeast Alberta. Hemisphere commenced the drilling of these wells in late September 2012 resulting in one horizontal well and one vertical well that targeted the oil-bearing sandstones of the Glauconitic formation.
The horizontal well has been producing since October 31, 2012 averaging approximately 140 barrels of oil per day (bopd) with a 0% water cut. This is the first horizontal well drilled in this pool and the Company plans to follow up its success with several more wells. Well licensing has been completed for two additional wells at this time.
The vertical well was Hemisphere’s initial earning well under its Jenner farm-in agreement announced in June 2012. It is anticipated that…
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