GODALMING, UK – Hurricane hopes to resume exploration drilling west of Shetland sometime next year.
The company has two discoveries in the region, Whirlwind and Lancaster. This year it has been working to secure funds for its next-phase program, which includes drilling more wells.
Despite an increasingly tight rig market, the company has secured one drilling slot with a rig in 2013 and two more slots in 2014.
Hurricane says the industry is taking more interest in fractured basement reservoirs (an emerging play west of Shetland) and in the company itself, which has received numerous approaches in recent months.
Under the UK’s 27th offshore licensing round, new licenses were awarded next to Hurricane’s acreage, and various field development and infrastructure projects are progressing in the region.
This year the company completed planned seismic survey work over the Orkney Island blocks it won in the 26th UKCS licensing round. It expects to provide a provisional interpretation of the data over the licenses by 2Q 2013.
Hurricane has also been finalizing a development concept for Lancaster and reviewing various economic scenarios. It aims to present its conclusions to Britain’s Department of Energy and Climate Change by the end of the year.