Hurricane Energy plc plans to conduct its annual shutdown during September at its Lancaster field, west of Shetland. OPERATIONS The move will follow the company’s latest production of 258 Mbbls during July, at an average 8,324 barrels of oil per day. On 24 July, Hurricane lifted the 30th cargo of Lancaster oil, totalling some 534 Mbbls, resulting in […]
Tag: Hurricane Energy plc
Hurricane clears final debts and looks to growth
Hurricane Energy plc has paid in full its outstanding debt of $78,515,000 of convertible bonds plus $1.5 million accrued interest. OIL PRICES Chief executive Antony Maris described the repayment as a key milestone as the company moves into a new phase focused on building a long-term future. “The excellent operational performance of the Lancaster field, […]
Hurricane Energy ready to clear debts
Hurricane Energy plc said it would soon clear its debts on the back of high oil prices and steady production at its Lancaster field, west of Shetland. PRODUCTION As of 16 July 2022, Lancaster was producing c.8,650 bopd from the P6 well alone with an associated water cut of c.46%. The company said that there […]
Hurricane appoints Robin Allan as independent NED
Hurricane Energy plc has appointed Robin Andrew Allan as an independent non-executive director, effective from 1 July 2022. Mr Allan will chair the environmental, social and governance (ESG) committee, and become a member of the technical committee. His experience includes executive roles with Premier Oil, including director North Sea and exploration, and chairman of BRINDEX, […]
Hurricane sees mixed fortunes from EPL
Hurricane Energy plc said investment allowances could offset its forecast £5 million bill under the new energy profits levy (EPL) from its operations at the Lancaster field, west of Shetland. ENERGY PROFITS LEVY In its monthly financial and operational report of 31 May 2022, the company added it was unable to determine the full impact […]
Hurricane Energy exits Greater Warwick Area
Hurricane Energy plc has decided to relinquish its interests in the Greater Warwick Area (GWA) joint venture (JV) with Spirit Energy plc in the UK North Sea. DISCUSSIONS The company said that the JV had reassessed its understanding of the area and considered all options for further appraisal and routes to possible development. “Hurricane has […]