10 Jun 2021 07:00
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) |
Oil produced during the month (Mbbls) | 353 | - |
Average oil rate (bopd) | 11,370 | - |
Water produced during the month (Mbbls) | 149 | - |
Average water cut(2) | 30% | - |
Well gauge pressure (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 22nd 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 |
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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 |
Inside Information
This announcement does not contain inside information.