Hurricane Energy PLC - Operational Update
("Hurricane" or the "Company")
As previously announced, and as detailed at the Company's Capital Markets Day presentation on
The Lancaster EPS is currently producing from the 205/21a-6 well at a rate of approximately 10,300 bopd. The Company plans to increase this rate incrementally, to determine its maximum sustainable level. This process will result in a period of production substantially below forward guidance of net 18,000 bopd and Hurricane is therefore suspending previous full year guidance of net 17,000 bopd. Production has averaged 15,500 bopd year to date.
"The results of the recent testing of the Lancaster EPS wells at elevated combined production rates are disappointing and the degree of interference encountered is unexpected. Whilst the wells show high productivity individually, their proximity and associated interference behaviour requires further data acquisition before the Company can be confident about optimum long-term well rates. This latest development reinforces that. This data acquisition process continues, and further updates will be provided once we have determined our target plateau production rate with the existing well configuration."
+44 (0)1483 862 820
Nominated Adviser & Joint Corporate Broker
+44 (0)20 7710 7600
Joint Corporate Broker
+44 (0)20 7425 8000
Patrick d'Ancona /
+44 (0)20 7390 0230
Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the
Barrels of oil per day
Floating production storage and offloading vessel
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The technical information in this release has been reviewed by Dr
This announcement contains inside information as stipulated under the market abuse regulation (EU no. 596/2014). Upon the publication of this announcement via regulatory information service this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the
Quick facts: Hurricane Energy PLC
Market Cap: £96.61 m
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