Hemisphere sees oil potential in southeast Alberta lands

Hemisphere Energy Corp., Vancouver, BC, has closed a $3.35 million acquisition of oil and gas assets in the Atlee Buffalo area of southeastern Alberta.

Hemisphere plans to apply its technical experience and successful track record in drilling horizontal wells and implementing pressure maintenance programs to achieve higher recovery factors.

The acquisition gives the company 100% working interest in 8.25 contiguous sections covering two significant Glauconitic oil pools about 25 km east of Hemisphere’s core Jenner oil producing property.

Estimated original oil in place on the acquired properties based on Hemisphere’s internal mapping was as much as 49 million bbl, of which only 4% has been recovered.

The properties produce 60 b/d of oil equivalent, 75% oil, and have proved plus probable reserves of 224 million boe. As many as 75 horizontal drilling locations are identified, and upside reserve potential exists with implementation of waterflooding and-or polymer flooding.

Related Articles

Daybreak advances Kentucky, California operations

10/13/2014

Daybreak Oil & Gas Inc., Spokane, Wash., has advanced its operations in Kentucky and California.

Eni signs two more PSCs for blocks off Vietnam

10/13/2014

Italy’s Eni SPA has signed two production-sharing contracts for exploration of blocks 116 and 124 off the coast of Vietnam.

Lundin spuds Gobi-1 exploration well in Natuna Sea

10/13/2014 Lundin Petroleum AB has spudded the Gobi-1 wildcat oil exploration well to test the hydrocarbon potential of Oligocene and Early Miocene stacked fl...

GWPC report examines changes in states' water protection rules

10/13/2014 Regulatory agencies in 27 US states that produce 98% of the nation's oil and gas have significantly increased exploration and production oversight ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected