Hemisphere Energy (TSE:HME) has released an update.
Hemisphere Energy Corporation reported a strong finish to 2023, with a 16% increase in fourth-quarter production and an 11% rise in annual production, both predominantly in heavy oil. The company achieved $84.5 million in annual revenue and $39.4 million in adjusted funds flow from operations, while also returning significant value to shareholders through dividends and a share buyback program. Hemisphere exited the year with a solid financial position, marking increases in reserve values across various categories.
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