Troubled oil firm Hurricane Energy is preparing for crunch talks with key stakeholders in a bid to unlock funding for new wells on its Lancaster field, west of Shetland.
Westwood Global Energy reports that as of December 2 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. At the time of writing, the first appraisal well of the year was preparing to spud.
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.
A retired geologist has claimed Hurricane Energy’s huge climbdown on its west of Shetland oil resource estimates could have been avoided if his warning had been heeded in 2016-17.
Private equity firms that piled into oil-production assets in the past few years now find themselves stuck, and forced to contemplate novel ways to make an exit.
The “jaw-dropping” reserves downgrade from Hurricane Energy has “dashed hopes” of any major resurgence in UK offshore production, according to Rystad Energy.
The Aoka Mizu FPSO has been picked to trial a new digital twin project to predict and analyse hull fatigue.
Hurricane Energy has set aside £16.8 million to help ensure it can cover decommissioning costs for its Lancaster field after cancelling a bond agreement.
Hurricane Energy said today that Alan Parsley had resigned as non-executive director of the UK offshore oil and gas business.
One of Hurricane Energy’s institutional investors has said the oil firm’s recent technical review, which included a huge downgrade to reserves and resources, was “persuasive but not conclusive”.
Hurricane Energy is now “arguably” a takeover target for companies brave enough to “take a punt on basement plays” after it revealed a huge downgrade to its resource base, an analyst has said.
Hurricane Energy slashed its oil resource estimates in a crushing blow to investors who hoped the firm would become a west of Shetland oil powerhouse.
Hurricane Energy has appointed a new CEO as a permanent replacement to founder Robert Trice who exited in June.
Hurricane Energy shares nosedived yesterday after the firm issued another warning that the reserves estimate for its flagship Lancaster field, west of Shetland, may require a “material downgrade”.
Hurricane Energy has managed to boost production from its Lancaster field, west of Shetland, using new equipment.
Transocean said in its latest fleet status report that Hurricane Energy had terminated its contract for the Paul B Loyd Jr drilling rig.
Hurricane Energy has warned a “material downgrade” is possible to its 2.6billion barrel contingent resources following a technical review of its operations.
North Sea exploration and production firm Hurricane Energy said today it was "deeply saddened" to report the death of its chief operations officer (COO), Neil Platt.
Spirit Energy has reached a “crossroads” at its Chestnut field in the central North Sea as it weighs up whether to drill new wells.
Ambitious plans for a new Energy Hub have been unveiled with hopes for hundreds of jobs and to make giant oil and gas fields in the West of Shetland "net zero by 2030”.
Robert Trice has resigned as chief executive of Hurricane Energy by “mutual agreement” amid a boardroom reshuffle at the firm.
Hurricane Energy’s boss has thanked the UK oil and gas industry’s regulator for giving the company more breathing room with its licence obligations.
The shut-in of one of the Lancaster field’s two production wells is a “bump in the road” that didn’t warrant such a large drop in Hurricane Energy shares, an analyst said.
Hurricane Energy has suffered the disappointment of having to shut-in one of the two production wells at its Lancaster field, west of Shetland.
A private-equity firm with stakes in North Sea firms has pledged to explore using floating offshore wind to power oil platforms.