Hurricane Energy PLC Operational Update (4072B)
June 10 2021 - 2:00AM
UK Regulatory
TIDMHUR
RNS Number : 4072B
Hurricane Energy PLC
10 June 2021
10 June 2021
Hurricane Energy plc
("Hurricane" or the "Company")
Operational Update
Hurricane Energy plc, the UK based oil and gas company, provides
an update on Lancaster field operations, pursuant to the Company's
reporting framework outlined in the Proposed Financial
Restructuring announcement as initially published by the Company on
30 April 2021.
The following table details production volumes, water cut and
minimum flowing bottom hole pressure for the 205/21a-6 ("P6") well
during May 2021.
May 2021 Lancaster Field Data
P6 P7z(1)
O il produced during the month -
(Mbbls) 353
------- -------
Average oil rate (bopd) 11,370 -
------- -------
W ater produced during the month -
(Mbbls) 149
------- -------
A verage water cut(2) 30% -
------- -------
Well gauge p ressure (psia)(3) 1,651 -
------- -------
1. The 205/21a-7z ("P7z") well was not on production during May 2021
2. Expressed as total water produced divided by total fluid (oil and water) production
3. Pressure reported is the monthly minimum from well downhole gauge
The 22(nd) cargo of Lancaster oil, totalling approximately 512
Mbbls, was lifted in early May 2021.
As of 7 June 2021, Lancaster was producing 11,020 bopd from the
P6 well alone with an associated water cut of 31%. On 8 June 2021,
the electric submersible pump ("ESP") in the P6 well tripped
causing the well to be shut in. The well is currently on natural
flow while the cause of the trip is investigated and the ESP's
electrical system is tested ahead of an attempt to restart the ESP.
Further announcements will be made in due course.
-ends-
Contacts:
Hurricane Energy plc
Antony Maris, Chief Executive Officer
Philip Corbett, Head of Investor Relations +44 (0)1483 862820
Stifel Nicolaus Europe Limited
Nominated Adviser & Joint Corporate Broker
Callum Stewart +44 (0)20 7710 7600
Investec Bank plc
Joint Corporate Broker
Chris Sim / Rahul Sharma +44 (0)20 7597 5970
Vigo Consulting
Public Relations
Patrick d'Ancona / Ben Simons
hurricane@vigoconsulting.com +44 (0)20 7390 0230
About Hurricane
Hurricane has a 100% interest in and operates the Lancaster
field, the UK's first field to produce from a fractured basement
reservoir.
Hurricane also has a 50% interest in the Greater Warwick Area
licence, which contains the Lincoln and Warwick assets.
Visit Hurricane's website at www.hurricaneenergy.com
Glossary
bopd Barrels of oil per day
Mbbls Thousand barrels
================================
psia pounds per square inch absolute
================================
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END
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