Hemisphere Energy (HMENF) Q1 Results
Posted: Tue May 23, 2023 1:01 pm
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.
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.