Hemisphere Energy (HMENF) – Hemisphere reports production levels near expectations, offers initial 2024 guidance

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Friday, January 26, 2024

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Hemisphere Energy reported 2024-4Q production results. Hemisphere Energy reported production of 3,375 boe/d, a 16% increase over the same period in 2022 and an 11% increase over 2023-3Q results. Production for the most recent quarter surpassed the 3,325 boe/d rate we had been using in our models. 

Management gives initial 2024 production, pricing, and cost guidance. Management gave initial 2024 production, cash flow and capital expenditure guidance. Guidance was largely in line with our expectations. 

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