Hemisphere Energy’s Reserves and Production Surge

Hemisphere Energy (TSE:HME) has released an update.

Hemisphere Energy Corporation has reported a successful year, with a 10% increase in production to 3,124 boe/d, largely from heavy oil, and a significant growth in reserves value, with Proved reserves now worth $325 million. The company has also been financially prudent, distributing over $13 million in dividends, repurchasing shares, and maintaining a strong cash position. Their strategic management has led to a high industry standing, with a liability management ratio in the top 8% of Alberta oil and gas operators.

For further insights into TSE:HME stock, check out TipRanks’ Stock Analysis page.