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Hurricane Energy PLC (HUR)

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Thursday 10 June, 2021

Hurricane Energy PLC

Operational Update

RNS Number : 4072B
Hurricane Energy PLC
10 June 2021
 

10 June 2021

 

Hurricane Energy plc

 

("Hurricane" or the "Company")

 

Operational Update

 

Hurricane Energy plc, the UK based oil and gas company, provides an update on Lancaster field operations, pursuant to the Company's reporting framework outlined in the Proposed Financial Restructuring announcement as initially published by the Company on 30 April 2021.

 

The following table details production volumes, water cut and minimum flowing bottom hole pressure for the 205/21a-6 ("P6") well during May 2021.

 

May 2021 Lancaster Field Data

 

 

P6

P7z(1)

O il produced during the month (Mbbls)

353

-

Average oil rate (bopd)

11,370

-

W ater produced during the month (Mbbls)

149

-

A verage water cut(2)

30%

-

Well gauge p ressure (psia)(3)

1,651

-

1.  The 205/21a-7z ("P7z") well was not on production during May 2021

2.  Expressed as total water produced divided by total fluid (oil and water) production

3.  Pressure reported is the monthly minimum from well downhole gauge

 

The 22nd cargo of Lancaster oil, totalling approximately 512 Mbbls, was lifted in early May 2021.

 

As of 7 June 2021, Lancaster was producing 11,020 bopd from the P6 well alone with an associated water cut of 31%. On 8 June 2021, the electric submersible pump ("ESP") in the P6 well tripped causing the well to be shut in. The well is currently on natural flow while the cause of the trip is investigated and the ESP's electrical system is tested ahead of an attempt to restart the ESP. Further announcements will be made in due course.

 

-ends-

 

Contacts: 

 

Hurricane Energy plc

Antony Maris, Chief Executive Officer

Philip Corbett, Head of Investor Relations

 

+44 (0)1483 862820

Stifel Nicolaus Europe Limited

Nominated Adviser & Joint Corporate Broker

Callum Stewart

 

+44 (0)20 7710 7600

Investec Bank plc

Joint Corporate Broker

Chris Sim / Rahul Sharma

+44 (0)20 7597 5970

 

 

Vigo Consulting

Public Relations

Patrick d'Ancona / Ben Simons

[email protected]

 

+44 (0)20 7390 0230

About Hurricane

 

Hurricane has a 100% interest in and operates the Lancaster field, the UK's first field to produce from a fractured basement reservoir.

 

Hurricane also has a 50% interest in the Greater Warwick Area licence, which contains the Lincoln and Warwick assets.

 

Visit Hurricane's website at www.hurricaneenergy.com

Glossary

bopd

Barrels of oil per day

Mbbls

Thousand barrels

psia

pounds per square inch absolute

 

Inside Information

 

This announcement does not contain inside information.

 

 

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