Hurricane Energy plc’s sale to Prax Exploration & Production Ltd has been approved by a court order and is now complete. COMPANY MOVES Admission to trading of Hurricane shares on AIM will be cancelled with effect from 7am tomorrow, 9 June 2023. Hurricane directors have resigned while former executive directors chief executive officer Antony Maris […]
Tag: Prax Exploration & Production plc
Hurricane progresses sale to Prax on NSTA approval
Hurricane Energy plc’s sale to Prax Exploration & Production plc continues to progress following approval by the North Sea Energy Transition (NSTA). COURT SANCTION Hurricane announced on 4 May that the majority of shareholders had approved the sale and that on 24 May the National Security and Investment condition had been satisfied. Today the company […]
Hurricane ‘highly confident’ of full shareholder dividend
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 […]
Hurricane Q1 revenues reach $39.3m
Hurricane Energy plc recorded revenues of $39.3 million for the first quarter of 2023 from its operations on the Lancaster field, west of Shetland in the North Sea. OPERATIONS The company’s unaudited trading report shows production of 0.66 MMbbls with an average of 7,311 bopd, and oil sales of 0.5 MMbbls from one cargo. At […]
Hurricane agrees up to £249m sale to Prax
Hurricane Energy plc has agreed to be sold to Prax Exploration & Production plc in a deal of staged returns of up to £248.9 million to shareholders, depending on the performance of the Lancaster field. ASSETS Hurricane focuses on fractured basement reservoirs offshore West of Shetlands and has a 100% operated interest in the Lancaster […]