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Hemisphere Energy has successfully drilled and placed on production two additional horizontal oil wells in Jenner, southeast Alberta, Canada, the company announced.
Hemisphere commenced its summer drilling program in July 2012 resulting in two horizontal wells that targeted the oil-bearing sandstones of the Glauconitic formation. The most recently drilled well has been producing since Aug. 11, averaging approximately 172 b/d of oil with a 6% water cut. The first well commenced production on Aug. 1, 2012 averaging approximately 25 b/d with a 5% water cut.
With the addition of these two new wells and based on field estimates, Hemisphere achieved record production rates during the last week of August, averaging 536 boe/d with a 94% oil and natural gas liquids weighting, the company reported.
Hemisphere continues to expand its landholdings, infrastructure and seismic database in its Jenner core area in southeast Alberta by recently acquiring 800 additional acres of prospective land through crown land sales, upgrading its main production facility to handle additional fluid, and acquiring two separate 3D seismic programs.
Hemisphere’s next drilling and seismic programs are expected to commence in mid-September 2012. The company anticipates drilling up to six wells targeting oil in the Glauconitic formation in the Jenner area by the end of 2012.