Troubled UK oil producer Hurricane Energy’s five non-executive directors have decided to resign, rather than wait for ballots to be held on their positions.
West of Shetland
Robert Trice, the co-founder and former CEO of Hurricane Energy, took a total pay package of £649,000 last year as the oil firm plunged to losses of £440million.
Troubled UK oil firm Hurricane Energy said today that the Stena Don rig is now on hire to plug and abandon the Lincoln well, which it once hoped to develop, west of Shetland.
Energy giant Equinor and Altera Infrastructure are “fully engaged” in a study that could result in the vessel owner’s Petrojarl Knarr FPSO being picked for the 300 million barrel Rosebank gig.
Long-suffering shareholders of beleaguered UK oil producer Hurricane Energy have snubbed the company’s restructuring plan.
Updated: Hurricane hopes for vessel deal amid Bluewater marketing push, reports Lancaster well glitch
Hurricane Energy is holding out hope that a crucial deal will be reached on the Lancaster field production vessel, despite owners Bluewater marketing it for redeployment.
Private-equity backed Siccar Point Energy has taken another step en route to a final investment decision (FID) on Cambo, a major oil project west of Shetland.
Bosses at Hurricane Energy could start winding down the business as early as next year unless they can hammer out a revised vessel deal for the Lancaster field.
BP, Baker Hughes and Odfjell Drilling have formed a new alliance aimed at boosting production from Clair, western Europe’s biggest oilfield.
Hurricane Energy has sank to losses of £440million, underscoring the troubles of the west of Shetland operator.
Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.
Energy giant BP has confirmed that a subsea development is among the options being weighed up for its Clair South project, west of Shetland.
Sembcorp Marine has said it is “back on track” with work on the Cambo FPSO for Siccar Point Energy.
Bosses at Hurricane Energy have conceded that the troubled UK oil firm is likely to be wound down within the next few years.
Hurricane Energy said today that an “unscheduled well intervention” was required on its Lancaster field, west of Shetland.
One of Hurricane Energy’s biggest shareholders has threatened to take “appropriate action” to maximise the company’s potential after complaining of a breakdown in their relationship.
Hurricane Energy today dashed hopes that it could boost production from its Lancaster field, west of Shetland, with a new well in 2021.
Hurricane Energy’s chief executive said today that the firm is currently “engaging with stakeholders” on funding for the further development of its Lancaster field.
Energy giant BP said today that non-essential staff were returning to its Clair platform after an electrical fault led to a partial down-manning last week.
Energy giant BP has partially down-manned its Clair platform, about 45 miles west of Shetland, due to an "electrical fault".