Hemisphere Energy

Hemisphere Energy Corp. is a Canadian oil company focused on conventional heavy oil assets in southeast Alberta. The company produces oil from the Atlee Buffalo property located near Brooks, Alberta.

Hemisphere is currently producing around 3,350 barrels of oil equivalent per day (99% heavy crude) from 46 wells in the Atlee Buffalo field. The company has implemented polymer flooding, an enhanced oil recovery technique, on certain pools at Atlee Buffalo to maximize resource recovery. As of December 2022, Hemisphere Energy has 11 million barrels of remaining proved reserves at Atlee Buffalo with a reserve life index of over 12 years.

As of November 2023, the company's enterprise value is at$125 million as the company generates strong cash flow due to low production declines from its polymer flooding activities, minimal sustaining capital requirements, and low operating costs. Hemisphere pays a quarterly dividend, currently yielding around 8% annually, and also buys back shares through a Normal Course Issuer Bid with no debts and minimal abandonment liabilities.