Hurricane Energy plc expects to pay full dividends following the 34th cargo of oil, totalling approximately 541 Mbbls, lifted last week from the Lancaster field, West of Shetland.
ACQUISITION
The cargo was priced at $82 per barrel, resulting in net revenue of c. $43 million.
Hurricane said that the two liftings in 2023, totalling 1,041 Mbbls, have realised an average price of $79 per barrel.
The next cargo is anticipated to be lifted in July 2023.
The company, due to be acquired by Prax Exploration & Production plc, added it was “highly confident” that the “full value of the supplementary dividend will be paid to shareholders at the same time as the transaction dividend and the cash consideration”.