Scotland is lagging behind the rest of the UK in the number of companies represented on the Alternative Investment Market (AIM) it was claimed at an event yesterday.
Hurricane Energy said it has completed its pilot well operations after making a “significant” discovery confirming its reservoir model for the Lancaster field, West of Shetland.
Hurricane Energy has appointed Petrofac well operator for its West of Shetland operations.
Hurricane Energy said it has spudded a well on the Lancaster field West of Shetland.
Hurricane Energy today confirmed it had suspended its efforts to source farmout partners for its Lancaster field development located west of Shetland.
Hurricane Energy has landed £52million in investment to drill two wells on its Lancaster field this summer.
Hurricane Energy has strengthened its team with the appointment of a new chief financial officer.
UK-based Hurricane Energy slashed its losses for the first half of the year.
Hurricane Energy is cracking on with plans to extract oil from 4,000 feet beneath the seabed after its North Sea Lancaster asset was officially designated as an oilfield. The Surrey-based company was founded in 2005 by chief executive Robert Trice to discover and develop oil from naturally fractured “basement” reservoirs in rock that was formed more than 2billion years ago. It has just achieved official oilfield status for Lancaster, located west of Shetland, from the Oil and Gas Authority (OGA).
The Oil and Gas Authority (OGA) has granted Hurricane Energy’s request for a field determination area for Lancaster. The company has been awarded the oil field status as oil field number 572 which Hurricane says is the first step in progressing the submission of the Lancaster early production system (EPS) field development plan (FDP).
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”.