REG - Hurricane Energy PLC - Operational Update

Hurricane EnergyAnnouncement

06/04/2023 07:00

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RNS Number : 5607V  Hurricane Energy PLC  06 April 2023

6 April 2023

 

Hurricane Energy plc

 

("Hurricane" or the "Company")

 

Operational Update

 

Hurricane Energy plc, the UK based oil and gas company, provides an update on
its Lancaster field operations as of 31 March 2023.

 

Lancaster Field Operations Update

 

The following table details production volumes, water cut and minimum flowing
bottom hole pressure for the 205/21a-6 ("P6") well during March 2023.

 

March 2023 Lancaster Field Data

 

                                          P6     P7z((1))
 Oil produced during the month (Mbbls)    238    -
 Average oil rate (bopd)                  7,672  -
 Water produced during the month (Mbbls)  260    -
 Average water cut((2))                   52%    -
 Well gauge pressure (psia)((3))          1,498  -

1. The 205/21a-7z ("P7z") well was not on production during March 2023

2. Expressed as total water produced divided by total fluid (oil and water)
production

3. Pressure reported is the monthly minimum from well downhole gauges.

 

As of 2 April 2023, Lancaster was producing c.7,530 bopd from the P6 well
alone with an associated water cut of c.53%. At that time the FPSO held
c.335,000 barrels available for lifting.  The next cargo is anticipated to be
lifted in late April 2023.

 

-ends-

 

Contacts:

 

 Hurricane Energy plc                             +44 (0)1483 862820

 Antony Maris, Chief Executive Officer

 communications@hurricaneenergy.com

 Stifel Nicolaus Europe Limited                   +44 (0)20 7710 7600

 Nominated Adviser & Joint Corporate Broker

 Callum Stewart / Jason Grossman

 Investec Bank plc                                +44 (0)20 7597 5970

 Joint Corporate Broker

 Chris Sim / Jarrett Silver / Charles Craven

 Vigo Consulting                                  +44 (0)20 7390 0230

 Public Relations

 Patrick d'Ancona / Ben Simons

 hurricane@vigoconsulting.com

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.

 

Visit Hurricane's website at www.hurricaneenergy.com
(http://www.hurricaneenergy.com)

Glossary

 bopd   Barrels of oil per day
 FPSO   Floating production storage and offloading vessel
 Mbbls  Thousand barrels
 psia   pounds per square inch absolute

 
Inside Information

 

This announcement does not contain inside information.

 

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