viewHurricane Energy PLC

Hurricane Energy starts well operations as it advances Lancaster

The company marked the start of another key programme as it advances Lancaster towards 'first oil' which is slated for the first half of 2019.

oil and gas operations
It is accessing two previously drilled and tested wells.

Hurricane Energy Plc (LON:HUR) has now begun well operations at the Lancaster oil field as it continues to develop the early production system (EPS).

The offshore oiler, in a statement, told investors that well re-entry and completion work is now being undertaken by contractor Petrofac, utilising the Transocean Paul B. Loyd Jr. harsh environment semisubmersible rig.

READ: Hurricane Energy is ticking all the boxes as Lancaster advances to production

It highlighted that the EPS will use two previously drilled and suspended wells, tagged 205/21a-6 and 205/21a-7Z. The wells will produce via electrical submersible pumps

"It's pleasing to see further progress being made on another element of the Lancaster EPS,” said Dr Robert Trice, Hurricane chief executive.

“We look forward to continuing to build on our strong relationship with Petrofac and Transocean, with whom we completed our highly successful 2016-2017 drilling campaign."

Together the two wells previously yielded an aggregate production rate of 25,175 barrels per day, constrained by surface testing equipment – with 205/21a-6 testing at 9,800 b/d and the 205/21a-7Z well testing at 15,375 b/d.

Production via the EPS is expected to be limited by regulations, relating to gas flaring, and as such it is due to yield 17,000 bopd.

First oil is slated for the first half of 2019.

Quick facts: Hurricane Energy PLC

Price: 5.94859 GBX

Market: LSE
Market Cap: £118.49 m

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