(Correcting date of recent production from P6 well.)
Hurricane Energy PLC - Surrey, England-based oil producer - Increases net free cash to USD106 million on March 31 from USD71 million on February 28. Hurricane doesn't give a reason for the increase in free cash. It notes that during the month, there was a net movement of USD9.4 million from free cash into restricted funds after the agreement of the Aoka Mizu FPSO Bareboat Charter extension at the end of the month, the company explains. Hurricane also notes that USD78.5 million of convertible bonds due in July remain outstanding.
Oil production from the Lancaster field in March increases to 282,000 barrels of oil from 263,000 in February, which means a lower average in March as February was three days shorter. Average rate of barrels of oil per day in March falls to 9,085 from 9,394 in February. As of April 17, production from the P6 well alone is back to 9,150 barrels per day.
Current stock price: 10.70 pence, up 2.1% on Wednesday
Stock price 12-months ago: 2.44p
By Tom Budszus; tombudszus@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
