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Hyperion spending $43 million on capital projects

Oil and gas development company looks to boost output of light oil and natural gas.


February 1, 2012
by The Canadian Press

CALGARY—Hyperion Exploration Corp. will spend $43 million this year to boost its light oil and natural gas output.

The Calgary-based company said the capital projects will raise output between 68 and 79 per cent.

About $37 million will be spent to drill, complete and tie-in nine new wells, which will add between 700 and 800 barrels a day of production.

That compares to 950 barrels total in 2010.

Hyperion is an oil and gas exploration and development company based in Calgary with a market capitalization of $61.78 million.