Hurricane Energy today said it was considering a premium listing to reflect the pace at which the company expects to grow as it targets first North Sea oil.
The firm also revealed that non-executive chairman Robert Arnott had left the independent explorer with “immediate effect”.
The company recently completed a successful capital raise totaling $530million.
Chief executive Robert Trice said: “Following our successful fundraising and corresponding business transformation, I am pleased to announce the Board’s preparation for future growth, through the formation of the Listing and Governance Committee. The establishment of this committee demonstrates Hurricane’s commitment to achieving best practice disclosure, reporting and corporate governance standards, commensurate with a Premium Listed business.
“I would like to thank Rob for his time as Chairman and contribution to the Company through what has been a transformational period of growth and development.
“I am pleased to confirm that operational progress towards our target of first oil on the EPS continues to be on schedule, with the FPSO currently undergoing upgrade work in Dubai and our planned revised CPR, which includes Lincoln and Halifax, remaining on track for publication by year end. We look forward to providing an update on operations as relevant milestones are reached.”
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- Opinion: Apart from oil sector tax break, Budget was an anti-climax
- Opinion: Out with the old and in with the reconditioned
- Opinion: All the hard work starting to pay off for Aberdeen and north-east
- Opinion: EY’s Derek Leith on what to expect from the Budget
- Opinion: Carbon capture and storage – put the kettle on