Hurricane Energy plans for second well at Lancaster field thrown into doubt amid complex side-track challenges

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Oil and gas company Hurricane Energy said it plans to drill a second production well at the Lancaster development programme was thrown into doubt as the proposed side-track appeared to be more complex than initially expected.

The company concluded that it would not be possible to drill the well during the 2021 summer weather window without unacceptable operational and cost risk.

'This proposed side-track is more complex in nature than previous wells on Lancaster due to the incorporation of an intelligent completion and the challenges of delivering the well trajectory from the side-track location,' the company said.

The company said was now considering various options including drilling the side-track in 2022 following further planning activity during 2021; drilling the side-track together with the water injection well as a combined programme in 2022, or drilling the side-track in 2022 and the water injection well in 2023.

At 10:05am: (LON:HUR) Hurricane Energy PLC share price was 0p at 3.25p


Related content

Change is coming: The big stocks being targeted by activists

The old adage is that you should never let a good crisis go to waste and this mantra seems to be being taken seriously by...

Thu, 30/09/2021 - 00:00


Activist manager Crystal Amber targeted by another activist

It’s not often you see an activist investor target another activist for poor performance but that’s what happening at Crystal Amber Fund (CRS:AIM).

On...

Thu, 01/07/2021 - 00:00


Hurricane Energy reports lower production in April

Hurricane Energy said average Lancaster oil production rate for April 2021 was lower than prior months, when the P6 well was producing on a standalone...

Mon, 10/05/2021 - 08:47


Hurricane Energy to engage with stakeholders over options to enhance wells at Lancaster site

Oil and gas company Hurricane Energy said it would engage with stakeholders over options to enhance both wells at its Lancaster site.

While several development...

Fri, 18/12/2020 - 09:34


Hurricane production falls in Q3 on disruptions, but maintains annual guidance

Oil and gas company Hurricane Energy kept its annual production guidance even as it reported lower quarterly production in the third-quarter amid planned maintenance and...

Thu, 08/10/2020 - 09:14