"Market participants had written off Hurricane Energy as little more than an embarrassment"
Firm seeks to expand production six-fold through North Sea acquisitions
Last year's record fuel prices catapulted them into Rich List territory.
There's a hotting-up M&A market in the UK North Sea, including some of the largest players like Harbour Energy. We take a look at where deals are being made.
Prax Group has announced the completion of its takeover of West of Shetland firm Hurricane Energy.
There's been numerous cases over the last decade in UK North Sea exploration where company estimates have been way off the mark.
The CEO of Hurricane Energy (LON: HUR) has described its performance in 2022 as “both very challenging and a highly successful” as it made $113.6 million before tax.
Prax E&P’s bid for Hurricane Energy has been cleared by government officials, with the company now awaiting a final written approval from the regulator as to the status of its offshore licences.
The UK-based oil and gas firm, Hurricane Energy (LON: HUR), has announced revenues of £31.7 million in the first quarter of this year.
Prax Exploration and Production intends to use Hurricane Energy (LON: HUR) as a vehicle to make further “significant acquisitions”.
Analysts see a fair deal with promising upside potential for Hurricane Energy shareholders in the wake of a takeover offer by Prax Group.
Prax Exploration and Production has struck a deal to acquire Hurricane Energy (LON:HUR), concluding a sales process initiated earlier in the year.
Geothermal Engineering Limited (GEL) has secured £12 million in funding from private-equity energy specialist firm Kerogen Capital.
Hurricane Energy’s (LON: HUR) top brass are to remain in charge after being given a stay of execution by the company’s top backer.
Meanwhile, Hurricane said it has had "multiple proposals from credible counterparties" on its process to sell the company.
Tony Buckingham, who started his career as a North Sea diver, has had a colourful career.
Hurricane Energy described the move from Crystal Amber Fund as "simply mystifying" as the firm is getting "excellent traction" on its sales process.
Several independent North Sea producers saw their share prices drop after the chancellor’s windfall tax announcement - lending credence to claims they are harder hit than oil majors by the policy.
Hurricane Energy (LON: HUR) has said it has received expressions of interest from “multiple” parties in its process to sell the business.
The UK’s decommissioning regulator has approved Hurricane Energy’s plans for the removal of the FPSO serving its Lancaster field, though recent company forecasts suggest production may continue into 2024.
UK-listed Hurricane Energy (LON: HUR) has launched a competitive sales process for its business.
A frontier near the huge Cambo and Rosebank fields in the West of Shetland has been left “underexplored” according to a new study.
Hurricane Energy (LON: HUR) has opted not to drill a new well at its flagship Lancaster field after it failed to secure assurances around flaring permits.
North Sea operator Hurricane Energy (LON:HUR) is to carry out a planned shutdown of its flagship Lancaster field next month.