17:00 Thu 12 Sep 2019
Hurricane Energy PLC - 'Lincoln Crestal' 205/26b-14 Well Result
("Hurricane" or the "Company")
'Lincoln Crestal' 205/26b-14 Well Result
Highlights
· Maximum stable flow rate of 9,800 stb/d on ESPs
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· No formation water produced
· Well now planned to be suspended as a future producer
Testing of the Lincoln Crestal well recorded a maximum stable flowrate of 9,800 stock tank barrels of oil per day ("stb/d") with the use of electrical submersible pumps ("ESPs"). The well flowed at an average rate of 4,682 stb/d under natural conditions. No formation water was produced.
Lincoln Crestal is the second well in a three-well programme on the
The well will now be suspended, subject to regulatory approval, with long term gauges installed to test interference with future GWA wells. It is then planned to be tied-back to the Aoka Mizu FPSO during 2020, subject to further technical evaluations, regulatory consent and final investment decision by the joint venture. Production from the tie-back would generate reservoir data to be used in planning future phases of development.
The Transocean Leader semi-submersible rig will now move to the location for the third well in the 2019 GWA drilling programme, 204/30b-A 'Warwick West'.
Dr
"We are delighted with the results of the Lincoln Crestal well. We have confirmed the presence of light oil which can be produced at commercial rates. The Lincoln Crestal well is now planned to be tied back to the Aoka Mizu FPSO next year. This would make
"Based on the result of the 2016 Lincoln well,
Contacts:
Dr
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+44 (0)1483 862 820 |
Nominated Adviser & Joint Corporate Broker
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+44 (0)20 7710 7600 |
Joint Corporate Broker
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+44 (0)20 7425 8000 |
Public Relations Patrick d'Ancona / |
+44 (0)20 7390 0230 |
About Hurricane
Hurricane was established to discover, appraise and develop hydrocarbon resources associated with naturally fractured basement reservoirs. The Company's acreage is concentrated on the
The
Hurricane's other assets include
In
Glossary
2P reserves |
Proved plus probable reserves under the |
2C contingent resources |
Best case contingent resources under the |
bopd |
Barrels of oil per day |
FPSO |
Floating production storage and offloading vessel |
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|
TVDSS |
Total vertical distance subsea |
Inside Information
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.
Competent Person
The technical information in this release has been reviewed by Dr
Standard
Resource estimates contained in this announcement have been prepared in accordance with the Petroleum Resource Management System guidelines endorsed by the
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