Welcome to our dedicated page for Hemisphere Energy news (Ticker: HMENF), a resource for investors and traders seeking the latest updates and insights on Hemisphere Energy stock.
Hemisphere Energy Corporation (HMENF) is a Canadian oil producer specializing in heavy oil extraction through polymer flood enhanced recovery methods. This page serves as the definitive source for official company announcements and market-moving developments.
Investors will find timely updates on drilling results, reserve evaluations, and financial performance. Our curated collection includes:
• Quarterly earnings reports
• Operational updates on enhanced oil recovery projects
• Strategic acquisition announcements
• Technical innovations in heavy oil production
Bookmark this page for direct access to Hemisphere Energy's latest corporate communications, enabling informed analysis of their low-decline asset strategy and disciplined capital allocation.
Hemisphere Energy (TSXV: HME, OTCQX: HMENF) announced the results from its Annual General and Special Meeting of Shareholders held on May 30, 2024. A total of 46,475,140 common shares were voted, representing 47.45% of total issued shares as of April 11, 2024. Shareholders approved all proposed items, which included fixing the number of directors at six, electing Charles O'Sullivan, Don Simmons, Frank Borowicz, Bruce McIntyre, Gregg Vernon, and Richard Wyman as directors, appointing KPMG LLP as auditors, and renewing the Company's Stock Option Plan.
Hemisphere Energy (TSXV: HME; OTCQX: HMENF) reported its Q1 2024 results, highlighting an average production of 3,133 boe/d, with 99% heavy oil. The company achieved quarterly revenue of $21.0 million and a net income of $6.8 million. Operating netback stood at $46.04/boe, and adjusted funds flow from operations (AFF) was $10.1 million. Hemisphere declared a quarterly dividend of $0.025 per share, distributed $2.5 million in dividends, and renewed its $35 million credit facility. Capital expenditures totaled $5.6 million, including the drilling of five wells. Hemisphere received approval for an EOR project and plans further investments in 2024.
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