Updated: End of the line in sight for Hurricane 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
Hurricane reports unscheduled well intervention at Lancaster
Hurricane Energy said today that an “unscheduled well intervention” was required on its Lancaster field, west of Shetland.
‘Another twitch in the death throes’ for Hurricane Energy
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: ‘No certainty of any future activity’ on West of Shetland assets
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.
Climate crisis: Investors weigh up impact on oil and gas
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.
Updated: Activist investor says relationship with Hurricane Energy has ‘deteriorated dramatically’
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 dashes hopes for new Lancaster well in 2021
Hurricane Energy today dashed hopes that it could boost production from its Lancaster field, west of Shetland, with a new well in 2021.
West of Shetland set for another barren year
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.
Hurricane ‘engaging’ with stakeholders on funding for west of Shetland plans, shares rise
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.
North Sea firms enjoy share price bump on OPEC deal
North Sea firms ranging from BP to Hurricane Energy have enjoyed share price hikes after a deal was reached by OPEC to curb oil production.
Updated: Troubled Hurricane set for crunch talks with key stakeholders in bid to unlock funds
Troubled oil firm Hurricane Energy is preparing for crunch talks with key stakeholders in a bid to unlock funding for new wells on its Lancaster field, west of Shetland.
Cnooc preparing to spud Glengorm appraisal
Westwood Global Energy reports that as of December 2 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. At the time of writing, the first appraisal well of the year was preparing to spud.
West of Shetland oil and gas remains UK’s best bet for growth despite recent setbacks
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.
Exclusive: Lancaster climbdown no surprise to geologist who clashed with OGA and Hurricane management
A retired geologist has claimed Hurricane Energy’s huge climbdown on its west of Shetland oil resource estimates could have been avoided if his warning had been heeded in 2016-17.
Chrysaor-Premier Oil deal could be ‘harbinger of things to come’
Private equity firms that piled into oil-production assets in the past few years now find themselves stuck, and forced to contemplate novel ways to make an exit.
Hurricane Energy downgrade ‘dashes hopes’ for UK production resurgance – Rystad
The “jaw-dropping” reserves downgrade from Hurricane Energy has “dashed hopes” of any major resurgence in UK offshore production, according to Rystad Energy.
Aoka Mizu FPSO tests ‘nerves of steel’ in West of Shetland
The Aoka Mizu FPSO has been picked to trial a new digital twin project to predict and analyse hull fatigue.
Hurricane sets aside £16.8m for Lancaster decom security after cancelling bond
Hurricane Energy has set aside £16.8 million to help ensure it can cover decommissioning costs for its Lancaster field after cancelling a bond agreement.
Kerogen advisory board member resigns from Hurricane role
Hurricane Energy said today that Alan Parsley had resigned as non-executive director of the UK offshore oil and gas business.
Crystal Amber says Hurricane technical review ‘persuasive but not conclusive’
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”.
Hurricane ‘arguably’ a takeover target after ‘awful’ downgrade, analyst says
Hurricane Energy is now “arguably” a takeover target for companies brave enough to “take a punt on basement plays” after it revealed a huge downgrade to its resource base, an analyst has said.
Updated: Hurricane makes huge cuts to west of Shetland oil resource estimates
Hurricane Energy slashed its oil resource estimates in a crushing blow to investors who hoped the firm would become a west of Shetland oil powerhouse.
Hurricane Energy appoints new CEO
Hurricane Energy has appointed a new CEO as a permanent replacement to founder Robert Trice who exited in June.
Updated: Shares nosedive as Hurricane issues new reserves downgrade warning at Lancaster
Hurricane Energy shares nosedived yesterday after the firm issued another warning that the reserves estimate for its flagship Lancaster field, west of Shetland, may require a “material downgrade”.
Shares rise as Hurricane tackles production issues at Lancaster
Hurricane Energy has managed to boost production from its Lancaster field, west of Shetland, using new equipment.