London-listed Hurricane Energy said today that its Lancaster field, west of Shetland, is producing from two wells again.
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.
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.
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.
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.
The “jaw-dropping” reserves downgrade from Hurricane Energy has “dashed hopes” of any major resurgence in UK offshore production, according to Rystad Energy.
The Aoka Mizu FPSO has been picked to trial a new digital twin project to predict and analyse hull fatigue.
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.
Energy Voice recently reported on Shetland Islands Council's ambitions to retain more tax revenue from oil and gas operations around the isles in its self-determination bid. Jon Fitzpatrick, managing director of consultancy Gneiss Energy, gives his view.
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 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 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”.
Hurricane Energy has managed to boost production from its Lancaster field, west of Shetland, using new equipment.
Ambitious plans for a new Energy Hub have been unveiled with hopes for hundreds of jobs and to make giant oil and gas fields in the West of Shetland "net zero by 2030”.
Robert Trice’s exit from Hurricane Energy is “disappointing news” and a “big blow” for the company, an analyst has said.
Hurricane Energy has suffered the disappointment of having to shut-in one of the two production wells at its Lancaster field, west of Shetland.
An institutional investor backing Hurricane Energy has branded the oil firm a “key detractor” to its recent performance.
Hurricane Energy has announced today that its chief financial officer (CFO) and director will stand down from his position at the firm.
Lerwick harbour continues to add to its reputation as a leading support hub for the oil and gas industry in northern waters through its contribution to the offshore sector’s operations west of Shetland.
Hurricane Energy’s exploration adventure offshore UK is the most exciting of them all, in my view.
Welcoming a new year heralds a time for reflecting on the year that was and what is to come.
Hurricane Energy has announced it expects revenues generated from its Lancaster field West of Shetland to reach $165m (£123m) in the 2019 financial year.
Hurricane Energy has started exploring options for a full-scale development of the area which delivered the firm’s maiden revenue in the first half of 2019.
Hurricane Energy narrowed its pre-tax losses in a first half marked by the achievement of first oil from its flagship project west of Shetland.