Posted in | News | Oil Shale | Mining Business

Hemisphere Energy Signs Agreement to Buy Jenner Oil Property

Hemisphere Energy signs a $1.1 million worth purchase agreement for an oil producing property in the Jenner area of southeastern Alberta.

The Jenner oil property generates around 25 barrels of oil per day and comprises the five sections of land formerly announced by Hemisphere in the farm-in agreement on November 23, 2010. It is anticipated that the acquisition of Jenner Oil Property by Hemisphere will be finished on or prior to March 28, 2011.

The purchasing of Jenner property is associated with the growth of oil production in southeast Alberta by means of increasing core areas with several potential zones, which offers low to medium drilling risks that will enhance production, reserves and cash flow of Hemisphere Energy.

Acquisition of the Jenner property by Hemisphere will permit the company to manage the development and exploration of the land area. The Jenner property having wellbores and facilities are of essential value to Hemisphere to look forward to with the plans to raise production in southeast Alberta.

Source: http://www.hemisphereenergy.ca/

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Hemisphere Energy Corporation. (2019, February 18). Hemisphere Energy Signs Agreement to Buy Jenner Oil Property. AZoMining. Retrieved on February 21, 2024 from https://www.azomining.com/News.aspx?newsID=3767.

  • MLA

    Hemisphere Energy Corporation. "Hemisphere Energy Signs Agreement to Buy Jenner Oil Property". AZoMining. 21 February 2024. <https://www.azomining.com/News.aspx?newsID=3767>.

  • Chicago

    Hemisphere Energy Corporation. "Hemisphere Energy Signs Agreement to Buy Jenner Oil Property". AZoMining. https://www.azomining.com/News.aspx?newsID=3767. (accessed February 21, 2024).

  • Harvard

    Hemisphere Energy Corporation. 2019. Hemisphere Energy Signs Agreement to Buy Jenner Oil Property. AZoMining, viewed 21 February 2024, https://www.azomining.com/News.aspx?newsID=3767.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit