Hurricane to focus on next-phase west of Shetland wells

Offshore staff

GODALMING, UKHurricane Energy has decided to temporarily suspend farm-out discussions concerning its discoveries west of Shetland.

Last month the company completed a £52.1-million ($75.7-million) placing and subscription, which will allow it to drill and test a pilot well and a horizontal side track well on the basement Lancaster oil field.

The “Lancaster 7 Wells” - the first of which is expected to spud next month - are designed to firm up the field’s current contingent resource range of 62-456 MMboe, and to provide a second future production well.

Hurricane prefers to focus on drilling, testing and subsequent analysis of the campaign, and to use the results to strengthen its position for the resumption of farm-out talks.

It expects to re-open its data room to interested parties once it has interpreted and integrated the new data with its ongoing development plans.

06/08/2016

Share your news with Offshore at news@offshore-mag.com

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

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...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...