Hurricane Energy PLC Update on Lincoln-14 well plug and abandonment (0048C)
June 16 2021 - 2:00AM
UK Regulatory
TIDMHUR
RNS Number : 0048C
Hurricane Energy PLC
16 June 2021
16 June 2021
Hurricane Energy plc
("Hurricane" or the "Company")
Update on Lincoln-14 well plug and abandonment
Hurricane Energy plc, the UK based oil and gas company, provides
an update on operations to plug and abandon the 205/26b-14
("Lincoln-14") well on the P1368 (South) licence in the Greater
Warwick Area ("GWA"), which Hurricane operates on behalf of the GWA
joint venture (Hurricane 50%, Spirit Energy Resources Limited
50%).
The Company previously announced, including in the Proposed
Financial Restructuring announcement as initially published by the
Company on 30 April 2021, that the GWA joint venture has a
regulatory obligation to plug and abandon the Lincoln-14 well by 31
October 2021, and that a rig had been contracted by Hurricane, as
licence operator, for this purpose.
The Company can confirm that the Stena Don semi-submersible rig
is now on hire. The Lincoln-14 plug and abandonment is scheduled to
take c.20-25 days to complete with a gross budgeted campaign cost
of c.$13 million (net $6.5 million to Hurricane).
-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
Inside Information
This announcement does not contain inside information.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDBLGDLBBBDGBU
(END) Dow Jones Newswires
June 16, 2021 02:00 ET (06:00 GMT)
Hurricane Energy (LSE:HUR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Hurricane Energy (LSE:HUR)
Historical Stock Chart
From Sep 2023 to Sep 2024