Hyperion spending $43 million on capital projects
Oil and gas development company looks to boost output of light oil and natural gas.
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.