Email
Hemisphere Energy Renews Credit, Plans First Atlee Waterflood
Hemisphere Energy Corporation has announced the renewal of its credit facility.
Following the annual review with its lender, Hemisphere's credit facility will remain at $15.0 million with no changes to covenants or applicable margins on borrowing costs.
Funds available under the credit facility are $14.0 million, with access to the remaining $1.0 million based on additional approval of the lender. As at July 28, 2015, the Company has approximately $10.0 million in net debt.
- Hemisphere has received approval from the Alberta Energy Regulator for its first waterflood pilot scheme in the Atlee Buffalo Upper Mannville F pool and is anticipating first injection by the end of the third quarter.
- The Company expects approval on two additional waterflood pilot projects in Atlee Buffalo early in the fourth quarter.
- In Jenner, Hemisphere plans to add a disposal well by year-end, thereby increasing its water disposal capacity.
Announced Date
July 28,2015
Value ( $MM )
150
Type
Debt
Use of Fund
Fund Acquisition
Company
Hemisphere Energy Corp
Regions
Canada
Country
Canada
Canada Related Financings
| Announced Date | Title | Company | Value($MM) | Financing Type |
|---|---|---|---|---|
| 2021-10-25 | Athabasca Oil Corp. Refinances Debt; Credit Facility Update | Athabasca Oil Corp | 350 | Debt |
| 2021-09-15 | Cenovus Wraps Up $1.25 Billion Debt Offering | Cenovus Energy Inc. | 1,250 | Debt |
| 2021-05-28 | ROK Resources Taps Debt Markets for $4.0 Million | ROK Resources Inc. | 4 | Debt |
| 2021-03-02 | Murphy Oil Offers $550 Million in 6.375% Senior Notes | Murphy Oil Corp | 550 | Debt |