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Hemisphere Energy provides operational and corporate updates
Hemisphere Energy provides operational and corporate updates Hemisphere Energy pro...
About this update from Hemisphere Energy Corp
[{"type":"text","content":"\n\n\n\nHemisphere Energy provides operational and corporate updates\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:1pt; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n\n\n\n\n\n\nHemisphere Energy provides operational and corporate updates\nCanada NewsWire\nVANCOUVER, Feb. 9, 2016\n\n\n\nTSX-V: HME\n\n\n\nVANCOUVER, Feb. 9, 2016 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) (\"Hemisphere\" or the \"Company\") is pleased to provide operational and corporate updates.\n\nOperational Update\n\nOver the past year, Hemisphere has focused its efforts in the field on lowering operating costs, increasing fluid handling capacity in Jenner, and implementing enhanced oil recovery projects in Atlee Buffalo to increase reserves and production without incurring higher expenditures drilling new wells.\n\nDespite low commodity prices through 2015, Hemisphere was able to successfully implement three waterflood projects in its Atlee Buffalo oil pools to increase production and recoverable reserves. The initial waterflood pilot in the Upper Mannville F pool commenced in late August 2015. A response to the waterflood has been detected based on field observations indicating that Atlee Buffalo oil production over the last two weeks in January increased by 23% and the gas/oil ratio decreased by 38% compared to the fourth quarter of 2015. Waterflood response at the second waterflood pilot in the Upper Mannville F pool is expected within the next few months. Hemisphere is pleased with the initial response as it marks an important milestone in the enhanced oil recovery of the Atlee Buffalo Upper Mannville F pool, which has a current recovery factor of only 5% of its estimated 23 MMbbl of original oil in place. \n\nThe third waterflood pilot has been designed to repressure the Upper Mannville G pool prior to more wells being drilled for production. Hemisphere anticipates production from ...