Oil production tests at new Lancaster field near Shetland ‘well’ above expectations

 

Hurricane Energy plc celebrates success of new Shetland oil field
Hurricane Energy plc celebrates success of new Shetland oil field

Surrey-based North Sea oil operator Hurricane Energy has successfully produced oil from its Lancaster well west of Shetland in an area between Scotland and the Faroe islands which holds around 20% of Britain’s untapped oil and gas resources.

Hurricane, which listed on London’s Alternative Investment Market (AIM) in February, said production tests using a pump achieved a flow rate of 9,800 barrels of oil per day – well above expectations. The well will now be suspended as a future producer

The Lancaster Field, which is 100% owned by Hurricane, has estimated 2C Contingent Resources of 207 million barrels of oil equivalent (MMboe).

Commenting from the Transocean Sedco 712 drilling rig, Dr. Robert Trice, Chief Executive, said:

“I am delighted to report the successful completion of our testing operations which have achieved hydrocarbon flow rates in the upper range of our pre-drill estimates.”

Its successful oil flow tests add to Britain’s prospects of tapping new oil and gas reserves in the challenging area West of Shetland, which has strong winds and waves and is very deep.

Hurricane, which fully owns the Lancaster well, has suspended the project while it is analysing the data collected during testing.

Hurricane specialises in drilling for oil in basement reservoirs, lying beneath the sandstones typically targeted by oil and gas explorers.

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