Hurricane Energy plc said it was confident of meeting the deadline to pay the outstanding $78.5 million as production continues at its Lancaster field, west of Shetland. FINANCES As of 30 April 2022, the company had net free cash of $92m (31 March: $106m). During the month, $3.2m was moved from free cash into restricted funds […]
Tag: Lancaster oil field
Hurricane raises reserves estimate and lowers guidance
Hurricane Energy plc has increased its estimate of reserves and reduced its production guidance at the Lancaster oil field, west of Shetland. The company attributed the decrease to the impact of the annual maintenance shutdown in Q3 of the FPSO. RESERVES Hurricane said that the estimated increase in reserves was due to an improvement in […]
Hurricane Energy extends FPSO charter
Hurricane Energy plc has signed a contract to extend the bareboat charter to cover the remaining economic life of the Lancaster oil field, West of Shetland. TERMS The contract with Bluewater (Aoka Mizu) B.V., owner of the Aoka Mizu FPSO, was due to expire on 4 June 2022. Hurricane said that either party could give six […]
Hurricane records 9,394 bopd during February
Hurricane Energy plc produced 9,394 barrels of oil a day in February but lifted no cargo at its Lancaster field, West of Shetland. OPERATIONS As of 15 March 2022, Lancaster was producing circa 9,250 bopd from the P6 well alone with an associated water cut of c.42%. The next cargo is anticipated to be lifted in late March 2022. […]
Hurricane Energy maintains output at Lancaster
Hurricane Energy plc said it produced 9,500 bopd from the 205/21a-6 (P6) well during January 2022 at the Lancaster field, West of Shetland. PRODUCTION The 27th cargo of Lancaster oil, totalling approximately 530 Mbbls, was lifted on 25 January 2022 and priced at $81.4/bbl. The next cargo is anticipated to be lifted in late March 2022. January 2022 […]
Hurricane reaches bubble point without issues
Hurricane Energy plc said that the well gauge pressure reached and declined below the ‘bubble point’ during December without production issues at its Lancaster oil field, west of Shetland. OPERATIONS The company added that this was in line with the previous guided timing of between late December 2021 and mid-February 2022. The bubble point is […]