Hemisphere Energy (HMENF) Q1 Results

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Hemisphere Energy (HMENF) Q1 Results

Post by dan_s »

Don Simmons just told me that Hemisphere will announce Q1 results before the markets opens on May 25.

I am expecting Hemisphere to report Q1 production of approximately 3,150 BOPD. It is a pure play on oil. Most of the natural gas they do produce is used to generate electricity in the Atlee Buffalo field. This keeps their operating and transportation costs around $15/bbl of oil, so their wells generate very good operating cash flow.

The company 2023 drilling program should ramp up production to a 2023 exit rate of ~3,600 bopd and increase to 4,000 bopd by the end of 2024.
Dan Steffens
Energy Prospectus Group
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