Hurricane set to resume Whirlwind studies

Offshore staff

ALTON, UK -- Hurricane Exploration has raised $32 million in funds, mainly via a share placement with institutional investors.

The net proceeds will be used to re-enter Hurricane’s suspended Whirlwind oil discovery west of Shetland and to conduct drillstem tests to further evaluate the reservoir and its fluid properties.

Hurricane also has entered into a Letter of Intent under which AGR Petroleum Services will perform well management services and engage the semisub WilPhoenix to perform the drilling operations this summer.

WilPhoenix is one of Awilco Drilling’s two Enhanced Pacesetter semisubmersible drilling rigs, and is equipped for drilling in water depths up to 1,200 ft. (366 m.). It is currently at Remontowa Shipyard in Poland undergoing an upgrading program prior to delivery next month.

AGR Petroleum Services has agreed to take the rig for one firm and six optional wells, representing its entire multi-client drilling program for 2011. The contract value for the firm part is around $7 million.

03/16/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...