- Hemisphere (HME) completed construction of its new injection plant at the Atlee Buffalo F pool battery during the summer
- The company plans to expand its oil battery with the addition of a new treater, allowing for higher production from the pool over the coming years
- In September, Hemisphere started a drilling program across its Southern Alberta assets
- Up to four wells will be drilled in this program to test potential new pools, pool extensions, and new production technologies
- Hemisphere Energy (HME) is down 3.36 per cent, trading at C$1.44 at 1:38 pm EST
Hemisphere Energy (HME) shares updates surrounding its operations in Southern Alberta.
Hemisphere completed its new injection plant construction at the Atlee Buffalo F pool battery during the summer and moved into the early stages of tertiary recovery for the pool in August.
Through the fourth quarter, the company plans to expand its oil battery with the addition of a new treater, allowing for higher production from the pool over the coming years.
The surfactant-polymer flood is expected to help reduce water channelling in the reservoir by slowing down the movement of the injectant relative to the oil and to maximize reservoir sweep by reducing the interfacial tension between oil and water.
Adding a surfactant may also serve as an injectant aid, allowing more volumes of injectant to cycle through the reservoir over the project’s life.
The overall recovery of oil from the pool is modelled to increase by up to 50 per cent under this flood, compared to waterflood alone.
Management believes there will be a gradual production response to the SP flood with limited impact in the coming year.
In September, Hemisphere started a drilling program across its Southern Alberta assets.
Up to four wells will be drilled in this program to test potential new pools, pool extensions, and new production technologies.
Well, data from the spring drilling program indicated that the northwest portion of the G pool requires pressure maintenance, with seven producers and only one injector.
As a result, the company recently converted one production well to an injection well and is waiting on approval to convert another shortly. These conversions are expected to lead to increased production at offsetting producing wells in the future.
Hemisphere anticipates third-quarter production to be between 2,800-2,900 boe/d, due to low reservoir pressure in the new wells, along with unplanned downtime at Hemisphere’s G pool facility in August and a planned G pool facility turnaround in late September.
Hemisphere is a Canadian oil company focused on maximizing shareholder value.
Hemisphere Energy (HME) is down 3.36 per cent, trading at C$1.44 at 1:38 pm EST.