Hurricane Energy PLC Operational Update (9370P)
01 June 2018 - 4:00PM
UK Regulatory
TIDMHUR
RNS Number : 9370P
Hurricane Energy PLC
01 June 2018
1 June 2018
Hurricane Energy plc
("Hurricane" or the "Company")
Operational Update:
Commencement of Well Completion Operations
Hurricane Energy plc, the UK based oil and gas company focused
on hydrocarbon resources in naturally fractured basement
reservoirs, is pleased to provide an operational update in relation
to the Early Production System development of the Lancaster Field
("Lancaster EPS").
Well re-entry and completion operations for the Lancaster EPS
have now commenced under the control of Petrofac Facilities
Management Limited ("Petrofac"), who are the Well Operator. The
operations will utilise Transocean's Paul B. Loyd Jr. harsh
environment semisubmersible rig. Following the rig's previous
assignment and mobilisation to the Lancaster field, it underwent a
required period of Blowout Preventer maintenance prior to
commencement of well completion operations.
The Lancaster EPS will use two currently suspended horizontal
wells; 205/21a-6 and 205/21a-7Z, which were previously drilled and
tested in 2014 and 2016 respectively. The 205/21a-6 well tested at
9,800 stb/d and the 205/21a-7Z well tested at 15,375 stb/d. These
rates were achieved using electrical submersible pumps ("ESPs") and
were constrained by the capacity of surface test equipment. During
these operations, the wells will be completed with dual pod
ESPs.
Dr Robert Trice, Chief Executive, commented:
"It's pleasing to see further progress being made on another
element of the Lancaster EPS. We look forward to continuing to
build on our strong relationship with Petrofac and Transocean, with
whom we completed our highly successful 2016-2017 drilling
campaign."
Contacts:
Dr Robert Trice (Chief Executive
Hurricane Officer) / Alistair Stobie
Energy plc (Chief Financial Officer) +44 (0)14 8386 2820
Nominated Adviser and Corporate
Broker
Stifel Nicolaus Callum Stewart / Nicholas
Europe Limited Rhodes / Ashton Clanfield +44 (0)20 7710 7600
Vigo Communications Public Relations +44 (0)20 7830 9704
Patrick d'Ancona / Ben Simons Hurricane@vigocomms.com
About Hurricane
Hurricane was established to discover, appraise and develop
hydrocarbon resources associated with naturally fractured basement
reservoirs.
Hurricane's acreage is concentrated on the Rona Ridge, West of
Shetland. The Lancaster field, the Company's most appraised asset,
has combined 2P Reserves and 2C Contingent Resources of 523 million
stock tank barrels of oil. The Company is currently proceeding
towards the first phase of development of Lancaster, an Early
Production System, with first oil targeted for 1H 2019.
During the 2016-2017 drilling campaign, the Company made two
significant discoveries* at Halifax and Lincoln. Together, these
discoveries* have 2C Contingent Resources of 1,839 million barrels
of oil equivalent.
Hurricane's other assets include Warwick, which has best case
Prospective Resources of 935 million stock tank barrels of oil,
Whirlwind, which has 2C Contingent Resources of 205 million barrels
of oil equivalent (under the Whirlwind oil case) and Strathmore,
which has 2C Contingent Resources of 32 million stock tank barrels
of oil. Together, this brings Hurricane's total combined 2P
Reserves and 2C Contingent Resources to 2.6 billion barrels of oil
equivalent.
*Discovery - This classification is consistent with SPE/AAPG/WPC
and SPEE guidelines for Petroleum Resource Management -
Determination of Discovery Status
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END
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