Hurricane expects stop to Lancaster field life towards end of 2023
Hurricane Energy has predicted that the end of its flagship Lancaster field’s production life will arrive at around the end of 2023.
Lancaster
Hurricane Energy adds more barrels to flagship Lancaster field
Hurricane Energy (LON: HUR) expects to get some extra barrels out of its flagship Lancaster field, as set out in a new competent person’s report.
Hurricane Energy says ‘no further action necessary’ over failed restructuring
Hurricane Energy (LON: HUR) has said "no further action is necessary" having completed a review into its failed restructuring plan earlier this year.
Hurricane Energy in ‘positive negotiations’ on Lancaster FPSO extension but debt deadline looms
Hurricane Energy has said it remains in positive discussions to extend the stay of the FPSO on its flagship Lancaster field, but issued a warning over funds as a debt deadline looms.
Hurricane Energy shares drop 25% as Lancaster field approaches ‘bubble point’
Hurricane Energy (LON: HUR) shares have dropped by 25% after announcing it expects to reach the production “bubble point” at its flagship Lancaster field as early as the first quarter of next year.
Hurricane Energy Lancaster field sells 10million barrels of oil
Hurricane Energy has hailed the sale of 10million barrels of oil produced from the Lancaster field in the West of Shetland.
Spirit Energy owners to put Norwegian business up for sale
The owners of Spirit Energy will put the exploration and production company’s Norwegian business up for sale separately.
Hurricane Energy shares rise as Crystal Amber holding goes above 25%
Shares in Hurricane Energy climbed this morning after activist fund Crystal Amber hoisted its holding in the troubled oil firm above 25%.
Former Hurricane Energy CEO Trice banked £650K pay as firm sank to £440m losses
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.
Updated: Hurricane shareholders snub restructuring plan with court decision looming
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.
Updated: Hurricane Energy wind-down could start in 2022 without revised vessel deal
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.
‘Upheaval and frustration’ as Hurricane Energy sinks to losses of £440million
Hurricane Energy has sank to losses of £440million, underscoring the troubles of the west of Shetland operator.
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 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.
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.
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.
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.
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.
Major project delays are ‘fair warning’ to those seeking greater oil exposure for Shetland
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.
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”.