Hemisphere Energy Corporation reports recurring updates on its Canadian heavy oil business, including financial and operating results, production performance, reserves evaluations, and capital spending tied to conventional assets developed with polymer flood enhanced oil recovery methods.
Company news also covers cash returns and capital-management actions, including quarterly and special dividends, normal course issuer bid activity, and grants under restricted share unit and stock option plans. Updates commonly reference Hemisphere's TSX Venture listing under HME and OTCQX trading under HMENF, along with operations and balance-sheet commentary tied to oil-price conditions.
Hemisphere Energy (HMENF) has begun receiving funds toward an approved $15 million interim insurance payment following its Atlee G pool battery fire.
The payment covers its property damage and business interruption claim. Power has been restored, additional tankage procured and one treater purchased, while equipment needed for full capacity is still being sourced. The company expects partial G pool production to restart before the end of November and normal operations to resume by the end of the first quarter of 2027, with a ramp-up period. October field estimates put corporate production at just over 1,000 barrels of oil equivalent per day, 99% heavy oil, including approximately 200 from two new Marsden Colony wells, entirely heavy oil.
Hemisphere Energy (HMENF) reports an operations update for its Marsden, Saskatchewan and Atlee Buffalo, Alberta assets following recent developments.
At Marsden, two new horizontal wells targeting the Colony Formation have been on production for three weeks at about 100 bbl/d each of heavy oil, and the company will evaluate further development of this zone in 2027. At Atlee Buffalo, production shut in after a fire at the Atlee G pool battery, and Hemisphere is working with insurers under $40 million of single-claim coverage, including six months of business interruption insurance after a 30‑day waiting period. September production averages about 1,000 boe/d (99% heavy oil), expected to stay near this level until the G pool is back online, with partial G pool output targeted before end‑November and full return to previous production levels anticipated in the first quarter of 2027.
Hemisphere Energy (HMENF) issued an operational update on September 3, 2026 regarding the fire at its largest oil battery at Atlee Buffalo. The incident destroyed all three treaters, damaged auxiliary equipment, and caused extensive damage to the electrical system, which must be restored before temporary production measures can be tried.
The affected battery represents up to 2,650 boe/d, or about 75% of company production. Hemisphere has started an insurance claim and holds property damage and business interruption coverage, with a 30‑day waiting period for any business interruption benefits. The firm now plans to drill six wells instead of the previously planned eleven in its summer program and has suspended prior guidance until repair timelines and insurance coverage are clearer. Management states that the current financial position supports payment of the previously declared quarterly dividend of $0.025 per share on September 11, 2026.
Hemisphere Energy (TSXV: HME, OTCQX: HMENF) reports a fire at its largest oil battery at the Atlee Buffalo property, which has been extinguished with no injuries and damage contained within the lease. All three treaters at the battery were lost, and the facility is expected to experience significant downtime during clean-up, assessment, and rebuild.
The affected battery accounts for up to 2,650 boe/d (99% heavy oil), or about 75% of Hemisphere’s production. The company is working with authorities, insurers, and service providers and has suspended previously announced guidance until repair timelines, production restoration, and related impacts are determined.
Hemisphere Energy (OTCQX: HMENF, TSXV: HME) declared a quarterly base cash dividend of $0.025 per share, payable on September 11, 2026 to shareholders of record on August 28, 2026, designated as an eligible dividend for tax purposes.
For Q2 2026, the company reported record petroleum and natural gas revenue of $33.6 million (2025: $24.4 million), operating netback of $22.1 million or $67.94/boe, adjusted funds flow from operations of $16.7 million ($0.18 basic per share), and free funds flow of $14.2 million ($0.15 per share). Net income was $12.6 million ($0.13 basic per share). Average production was 3,576 boe/d (99% heavy oil) with operating and transportation costs of $14.35/boe. During the quarter, Hemisphere paid $2.4 million in base dividends and $5.7 million in special dividends, repurchased 30,000 shares under its NCIB, renewed its $35 million extendible credit facility, and exited with no bank debt and positive working capital of $19.5 million.
Hemisphere Energy (OTCQX: HMENF, TSXV: HME) received TSX Venture Exchange approval to renew its Normal Course Issuer Bid. The company may repurchase for cancellation up to 7,914,281 common shares, about 10% of its public float, on the open market.
The NCIB runs from July 14, 2026 to July 13, 2027, or earlier if completed or terminated. Hemisphere believes its share price may at times not reflect intrinsic value and that buybacks can benefit remaining shareholders. A broker, Canaccord Genuity, will conduct purchases.
Hemisphere Energy (OTCQX: HMENF, TSXV: HME) reported voting results from its June 10, 2026 Annual General and Special Meeting.
Shareholders representing 37,674,548 shares (39.93%) supported all matters, including setting the board at six directors, electing the slate of nominees, reappointing KPMG LLP as auditor, and approving the Stock Option and Bonus Award Incentive Plans.
Hemisphere Energy (OTCQX:HMENF) declared a quarterly cash dividend of $0.025 per share, payable June 26, 2026 to shareholders of record June 12, 2026. Total dividends for H1 2026 reach $0.11 per share.
Q1 2026 production averaged 3,811 boe/d (99% heavy oil), generating $25.4M revenue, operating netback of $16.7M or $48.60/boe, AFF of $12.7M ($0.13/share), and free funds flow of $9.6M ($0.10/share). Hemisphere ended the quarter with no bank debt and $13.9M working capital.
Updated 2026 guidance sensitivities target annual production of about 3,900 boe/d, AFF of $40–78M, free funds flow of $28–66M, and a base dividend of $0.10/share, depending on WTI prices between US$60–100/bbl.
Hemisphere Energy (OTCQX: HMENF) declared a $0.03 special dividend per share payable May 28, 2026 to holders of record on May 14, 2026, following an earlier $0.03 special dividend payable April 28, 2026.
For 2025, Hemisphere reported annual production of 3,645 boe/d (+6%), revenue of $93.9M, adjusted funds flow of $42.9M, free funds flow of $26.6M, and capital expenditures of $16.3M. The company returned cash to shareholders via dividends and NCIB repurchases and exited 2025 with working capital of $8.6M.
Hemisphere Energy (OTCQX: HMENF) declared a $0.03 special dividend payable April 28, 2026 to shareholders of record April 15, 2026, designated as an eligible Canadian dividend, in addition to a $0.025 quarterly base dividend.
Independent reserves (Dec 31, 2025) by McDaniel show PDP NPV10 BT of $212M (9.3 MMboe), 1P NPV10 BT $252M (11.8 MMboe), and 2P NPV10 BT $316M (15.2 MMboe). Corporate production ~3,800 boe/d (99% heavy oil). NAV per diluted share ranges $2.31 (PDP) to $3.35 (2P).