RNS Number: 8844 F Hurricane Energy PLC 17 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 8199 F Hurricane Energy PLC 17 July 2019. Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, notes the sale of 110 million ordinary shares in the Company by Kerogen Investments No. 18 Limited.. On 17 July 2019, Kerogen announced that it had sold 110 million ordinary shares...
RNS Number: 6104 F Hurricane Energy PLC 16 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 6104 F Hurricane Energy PLC 16 July 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Hurricane Energy Yesterday saw the Hurricane Capital Markets Day where CEO Dr Robert Trice and CFO Alistair Stobie updated the market on developments at Lancaster and the Warwick Deep well results. Whilst investors are aware that Hurricane themselves have said that 6-12 months of start-up phase work will need to be done and that production history needs to be established along with reservoir performance analysed the initial prognosis is of a ‘stunning performance’. It appears that the wells are performing very well indeed, with individual well rates achieving production of over 16,500 bopd on natural flow. Previous to start up the company expected that esp’s would be required to achieve target well rates, the high natural flow has encouraged the company to start its production without the esp’s, just natural flow. The associated productivity index is deemed to be ‘world class’. The reservoir performance is said to be ‘better than expected’ and this leads to a modest increase in the production guidance range for 2020 to 17-20/- b/d with the wells able to make up for any downtime. Water encountered was pretty much as expected by Hurricanes geological model and is interpreted as being perched/trapped water rather than being drawn up from the Oil/Water contact. Water cut of around 8% is associated with the 7z well with no water produced in the 6 well giving a combined number of 4% against Hurricane’s predicted base case range of 5-10%. Additionally, the wells had no pressure barriers and strong interference between them which ticks another two boxes. Encouraged by the EPS the company is already planning other appraisal wells for Lancaster in 2021, these could tie in to current infrastructure and thus increase EPS production. Whilst the Warwick Deep well was a disappointment in terms of productivity, it did encounter oil and has provided important data which is still being analysed. A 712m horizontal section of fractured basement reservoir was drilled below local structural closure and a number of pre-drill expectations were met. The company are not too discouraged and further analysis is needed but this data will be key in the totality of the GWA 2019 and 2020 drilling programme. The next GWA well, Lincoln Crestal spudded this morning and if it proves to be productive it will be tied back to the Aoka Mizu to add a net 4,250 b/d and 5-10 mmscf/day to Hurricane. The intention is to bring it onstream in Q4 2020 or Q1 2021. Financially clearly a lot of numbers will start to improve not least the opex which we were guided would fall to around $20 pb from 2020 with an upside number of $15 with the addition of GWA hydrocarbons. With the first delivery of oil ‘in the bank’ and another imminent cash flow this year should be around $60m with guidance for next year of $200-240m. So, the first few months of the Lancaster EPS can be considered a great success, but the company is quite rightly maintaining the 6-12-month trial period although early indications are extremely positive. Although the Warwick Deep well disappointed in terms of productivity, the company remains confident about the GWA. Accordingly, I think that the share price, which rallied sharply after the RNS is still considerably undervalued.
Lincoln Crestal is the second in a three-well programme on Hurricane's Lincoln and Warwick assets- the Greater Warwick Area. The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.. The Lancaster field is Hurricane's most appraised asset, with five wells drilled by the Company to date.
RNS Number: 2932 F Hurricane Energy PLC 12 July 2019 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary...
RNS Number: 2932 F Hurricane Energy PLC 12 July 2019 Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary...
RNS Number: 2150 F Hurricane Energy PLC 11 July 2019. Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that it is hosting a Capital Markets Day presentation today in London for sell-side analysts and institutional shareholders.. The event will be hosted by Dr Robert...
Hurricane Energy Hurricane has announced an update on its Warwick Deep well this morning. The well is being plugged and abandoned after reaching TD of 1,964m and included a 712m horizontal section of fractured basement reservoir. Initial analysis indicates that the well intersected a poorly connected section of the fracture network within the oil column and did not flow at commercial rates. The company are evaluating the DST and fluid samples and will provide an update at the Capital Markets Day on July 11th, in the meantime the rig will now move on to the second of the three well programme, the ‘Lincoln Crestal’ well. Whilst the market will undoubtedly be disappointed by this result, it should be borne in mind that this is the first well in a three well programme and that much testing remains to be done. Also the well did find oil where oil was meant to be but hit a poorly connected part of the fracture network ‘within the oil column’. Poorly connected parts of the fracture network are more likely to be associated with trapped water and have lower permeability, which is covered in the company’s CPR. The losing of a production well is a disappointment but I don’t believe that this is time to panic with regard to the Greater Warwick Area, interpretation may change with further checking and this could just be an unfortunate piece of well positioning. Furthermore, with two more wells to come on the GWA this year, and a further three next year, I would expect a lot more data to evaluate by the end of the year. The implications for the EPS and Lancaster are minimal, with the proof of the pudding being the Lincoln and Warwick West wells. One should remember quite how large the whole area is and that we will get more information on July 11th. In the meantime the company continues to produce from the Lancaster EPS which is progressing according to plan.
RNS Number: 9339 D Hurricane Energy PLC 01 July 2019 1 July 2019. Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update in relation to the 205/ 26 b-13Z well.. The rig will now undertake work to permanently plug and abandon the Warwick Deep well and will then move to the...
Hurricane Energy An operational update from Hurricane today and a very welcome piece of news for shareholders from the Lancaster EPS where first lifting and oil sales have been made today. It has confirmed that it has sold its first cargo from the Aoka Mizu FPSO to BP Oil International pursuant to its offtake agreement. Dr Robert Trice, CEO said in the statement that the company was ‘now building the cash flow necessary to invest in the further appraisal and development of Hurricane’s basement assets’. I’m sure that the CFO would also welcome first revenue and this marks another important step for the company.
Hurricane Energy Plc (HUR.L) Announced, in an operational update in relation to the Early Production System development of the Lancaster field (Lancaster EPS), that on 18 June 2019, the company sold its first cargo which was lifted from the Aoka Mizu FPSO by the Amundsen Spirit shuttle tanker. The cargo was marketed by BP Oil International Limited, pursuant to the offtake agreement.
RNS Number: 5339 C Hurricane Energy PLC 18 June 2019 18 June 2019. Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to provide an operational update in relation to the Early Production System development of the Lancaster field.. The Company's acreage is concentrated...
RNS Number: 2685 B Hurricane Energy PLC 05 June 2019 5 June 2019. Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that all resolutions put to shareholders at the Annual General Meeting of the Company held earlier today were duly passed. The AGM was held at: The Science...
The Company's acreage is concentrated on the Rona Ridge, in the West of Shetland region of the UK Continental Shelf.. The Lancaster field is the UK's first producing basement field. Hurricane's other assets include Lincoln, Warwick, Halifax, Whirlwind, and Strathmore.
Hurricane Energy The day some people thought might never happen has arrived, Hurricane has announced this morning first oil from the Lancaster EPS. On the 4th of June the Aoka Mizu start-up phase completed with a72-hour production test deemed to be “first oil”. The combined flow from both wells during this test period reached and maintained the planned production rate of 20,000 b/d which marks the contractual provisional acceptance of the Aoka Mizu FPSO by Hurricane. As has always been guided by the company this is only the start of the gradual ramp-up in facilities availability over the first six months of production towards long term efficiency of 85%. Indeed, the company in this announcement restates for clarity that existing guidance for facilities availability of three months at 45% and then a further three months at 65% resulting in average production rates of 9,000 b/d and 13,000 b/d respectively. Whilst this is clearly a red letter day for Hurricane, it’s whole team led by Dr Trice deserve praise for delivering the first phase on time and within budget I know that no one at the company will be resting on their laurels. As has been said consistently throughout this whole process up to 12 months of stable production will be required in order to provide a clear view of the reservoir and ‘enable us to plan for associated full field development scenarios ‘. Having said this the fact that at today’s AGM Dr Trice will be able to formally deliver the good news will be a moment of considerable triumph And pride and whilst it is too early to see off the industry nay sayers it is no doubt an opportunity to break out the cigars down at Eashing Mill.
Hurricane Energy Plc (HUR.L) Announced, in an operational update in relation to the Early Production System development of the Lancaster field, that the Aoka Mizu FPSO's start-up phase completed with a 72-hour production test on 4 June 2019. The combined flow from both wells during this test period reached and maintained the planned production rate of 20,000 barrels of oil per day. The company anticipates a gradual ramp-up in facilities availability over the first six months of production towards long term operating efficiency of 85.0%. The company restates existing guidance for facilities availability of three months at 45.0% and then a further three months at 65.0%, resulting in average production rates of 9,000 bopd and 13,000 bopd, respectively.
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Company Profile

Hurricane Energy was founded in 2005 by Dr Robert Trice with the help and encouragement of a private investor, in the belief that fractured basement reservoirs represent a significant untapped resource. Beginning with just a few highly expert staff, Hurricane gradually established a team of specialists with the skills, experience and determination to locate and develop this resource potential. Through successful participation in a series of UK licensing rounds Hurricane has built a portfolio of licences on the Rona Ridge, a major NE-SW trending basement feature on the UK Continental Shelf, to the west of the Shetland Islands. An extensive work programme has led to a number of significant discoveries (as defined under the SPE PRMS) in the Company's acreage, including Lancaster, Lincoln, Halifax and Whirlwind. In just a short time Hurricane has achieved a great deal. During 2009 and 2010, the average size of oil discovery within the UK Continental Shelf was 20-23 million barrels. In the same period, Hurricane discovered around 200 million barrels, twice. These figures were independently verified by RPS Energy in a Competent Person's Report in 2013. Subsequent appraisal of Lancaster has doubled the contingent resources attributed to the field and led to the assignment of reserves associated with the first phase of development, an Early Production System (EPS). Further drilling on Lincoln and Halifax led to a further significant Resource upgrade with a new RPS Energy CPR in December 2017, bringing total 2P and 2C Contingent Resources to 2.6 billion barrels of oil equivalent. Since inception, Hurricane has identified basement prospects, discovered oil and is now moving forward to validate its model for basement exploration through extended production.

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HQ
The Wharf
Abbey Mill Business Park
Lower Eashing, Groud floor
Godalming
GU7 2QN
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