By Adria Calatayud

 

Hurricane Energy PLC said Thursday that it has received approval from the U.K. Oil and Gas Authority for an amendment to its development plan for the Lancaster offshore field, meeting a key condition for a financial restructuring.

The London-listed oil-and-gas company said the approval--together with associated production, flare, and vent consents--will give it flexibility to manage the field. The initial consent is for the three months to Sept. 15, the company said.

"This approval, whilst not having any immediate impact on the reservoir performance of the Lancaster field, will assist with longer-term reservoir management, enabling us to optimize the field's performance," Chief Executive Antony Maris said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

June 17, 2021 03:56 ET (07:56 GMT)

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