2024-04-09 08:30:00 ET
Summary
- Hemisphere Energy is an EOR, polymer flooder with core assets in southern Alberta and hopes to expand into adjacent Saskatchewan province.
- The company utilizes polymer flooding in high perm reservoirs to increase oil recovery and has seen a boost in net oil recovery by nearly 70%.
- Hemisphere Energy is committed to capital returns, pays a regular dividend, and has reduced share count by 3.5% in 2023. They have plans for future growth in the Manito Lake area.
- We rate Hemisphere stock as a Strong Buy at current levels.
Introduction
Hemisphere Energy ( OTCQX:HMENF ) is another southern Alberta province EOR, polymer flooder, with core assets - Atlee Buffalo, in the extreme SE portion of Alberta Province, with much of the original oil in place still remaining. The company estimates that about 3% of the OOIP - original oil in place, was recovered in decade-old vertical wells. Recently, it has obtained what it hopes is similar acreage in the adjacent Saskatchewan province for future growth....
Read the full article on Seeking Alpha
For further details see:
My Top Pick - Hemisphere Energy: Polymer Flood 'Beast Mode' Rains Cash Flow