A production and financial update from Hurricane Energy suggests production at its Lancaster field is holding within its guidance, albeit with a rising water cut.
Troubled North Sea oil and gas firm Hurricane Energy (LON: HUR) has shuffled its top team after a request from its activist investor.
Investment fund Crystal Amber has claimed that prospects for the flagship Hurricane Energy Lancaster field may be better than have been presented, and that it could sustain production to 2025.
The chairman of activist fund Crystal Amber has claimed its “decisive action” saved $22million which would have been lost from Hurricane Energy.
Hurricane Energy has hailed the sale of 10million barrels of oil produced from the Lancaster field in the West of Shetland.
Shares in Hurricane Energy climbed this morning after activist fund Crystal Amber hoisted its holding in the troubled oil firm above 25%.
Crystal Amber says Bluewater ‘very keen’ to discuss longer stay for FPSO on Hurricane’s Lancaster field
Activist investor Crystal Amber says Bluewater Energy is “very keen” to discuss options for keeping its Aoka Mizu vessel on Hurricane Energy’s Lancaster field.
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.
Shares in Hurricane Energy have closed 27.35% higher at 2.17p in London, on a day when activist fund Crystal Amber came under fire from one of its own investors.
Hurricane Energy’s shareholder will vote next month on whether or not to oust several members of the company’s current board of directors.
One of Hurricane Energy’s biggest shareholders has moved to have several members ousted from the company’s board with “immediate effect”.
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.
One of Hurricane Energy’s institutional investors has said the oil firm’s recent technical review, which included a huge downgrade to reserves and resources, was “persuasive but not conclusive”.
An institutional investor backing Hurricane Energy has branded the oil firm a “key detractor” to its recent performance.
One of the institutional investors backing oil firm Hurricane Energy said yesterday it had received a £17.9 million boost from the North Sea oil firm’s “year of great achievement”.
Activist investor Crystal Amber has been building its stake in a North Sea business it expects could be worth £17billion. The Guernsey-based fund now owns 12% in Hurricane Energy which is closing in on a farm-in deal that could start to unlock 400million barrels of oil and “breath life” into the North Sea. Hurricane was founded in 2005 by Dr Robert Trice, a specialist in an unusual hydrocarbon geology known as “fractured basement reservoirs”.