Its current focus is on further refinement of the Lancaster reservoir field model, well planning, and detailed evaluation of available facilities through which the oil can be produced.
The UK Oil and Gas Authority recently sanctioned Lancaster a field determination area and oil field status represents the first step toward submission of a field development plan based on an early production system, and assists partitioning of the other discoveries and prospects within license P1368.
Jefferies International continues to work with Hurricane on attracting a partner into some or all of the company’s UK offshore assets.
In July, the company was awarded two further west of Shetland blocks under the Oil and Gas Authority’s 28th Offshore Licensing Round Second Tranche of Offers.
Hurricane’s applications for blocks 204/30b and 205/26d were based both on identification of a new basement prospect, provisionally named Warwick, which is thought to be analogous to Lancaster (at basement level); and on additional prospectivity provided by the extension of the Lincoln prospect into block 204/30b.
There is a “drill-or-drop” work commitment for either of the identified prospects.
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