(Alliance News) - UK focused oil & gas explorer Hurricane Energy PLC on Monday confirmed that a drill stem test on the Lincoln Crestal well produced oil to surface, resulting in a flare on the Transocean Leader drilling rig.
Hurricane Energy said the well was shut-in on Sunday to enable a planned pressure build-up test. The company intends to provide an update on initial results of the well, including flow rates and oil type, following completion of a ongoing testing phase.
Lincoln Crestal, or 205/26b-14, well is located off the west coast of the Shetland Islands and is equally owned by Hurricane Energy and Spirit Energy Ltd, which is in turn owned 69% by Centrica PLC.
The well was spud on July 12 after which the companies moved to conduct drill stem testing on the well.
Lincoln Crestal is part of a three-well drill programme being undertaken by Hurricane Energy at its Lincoln and Warwick sites, being drilled in partnership with Spirit Energy as part of a 50% farm-in deal.
Shares in Hurricane Energy were up 5.0% at 45.15 pence each. Centrica shares were up 1.9% at 69.12.
Centrica (CNA)
