Shares in Hurricane Energy climbed this morning after activist fund Crystal Amber hoisted its holding in the troubled oil firm above 25%.
Troubled oil and gas firm Hurricane Energy recorded revenues of about $69 million (£49.8m) in the second quarter of 2020.
Troubled operator Hurricane Energy has announced the completion of decommissioning work to its Lincoln well, which it once hoped to develop, in the west of Shetland.
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.
Bosses at Hurricane Energy are “considering all options”, including an appeal, after a court refused to sanction the beleaguered North Sea oil firm’s restructuring plan.
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.
A hearing into Hurricane Energy's restructuring plan has concluded without a decision being immediately reached.
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.
Hurricane Energy is exploring methods to reduce its operational emissions as part of efforts to decarbonise the UK’s upstream sector.
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.
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.
Hurricane Energy’s shareholder will vote next month on whether or not to oust several members of the company’s current board of directors.
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.
Hurricane Energy has sank to losses of £440million, underscoring the troubles of the west of Shetland operator.
One of Hurricane Energy’s biggest shareholders has moved to have several members ousted from the company’s board with “immediate effect”.
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.
A major downgrade in reserves, a written-off discovery and warnings of a shareholder wipeout are a “real blow to investors and debt holders” of Hurricane Energy, an analyst has said.
Hurricane Energy has stated there is “no certainty of any future activity” on its West of Shetland assets, including its flagship Lancaster field, following a new reserves report.
As oil and gas faces a rise in climate activism, ESG concerns, and the need to raise its own profile as a pillar of the energy transition, investors are weighing the impact.
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.
Westwood Global Energy reports that as of February 24 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.