The Canadian energy firm reported a 37.8% year-over-year revenue surge and record operating netback of $22.1 million.
Hemisphere Energy Corporation reported Q2 GAAP earnings per share of $0.13 and revenue of $33.6 million, marking a 37.8% increase from the same period last year. The company achieved a record operating netback of $22.1 million, or $67.94 per barrel of oil equivalent (boe).
Adjusted funds flow from operations reached a quarterly high of $16.7 million, or $51.25/boe. The results reflect strong operational performance and higher commodity prices compared to the prior year.
The company did not disclose immediate market reactions in the release.