Hurricane Energy plc, the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announced that the Lancaster horizontal appraisal well was spudded on 26 April 2014.
The Company is using the Transocean Sedco 712 semi-submersible drilling rig for the operation which is intended to drill and test the Lancaster basement oil discovery. The operation is expected to last approximately 75 days after which further technical analysis will be undertaken.
Hurricane is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company intends to discover, appraise and develop oil reserves in basement rock and has successfully found oil on the UKCS. The Company has circa 450 MMboe of 2C Contingent Resources and 440 MMboe P50 Prospective Resources on acreage it controls 100% under licences P1368, P1485, P1835 and P1884.
Hurricane was founded in 2004 by Dr Robert Trice, alongside a private investor, in the belief that fractured basement reservoirs represent a significant untapped resource. The Company is headquartered near Godalming, Surrey and has office facilities in Aberdeen.
The Lancaster discovery was made in 2009 and further tested in 2010. Hurricane’s Competent Person’s Report, prepared by RPS Energy Consultants Limited in November 2013, allocates 2C recoverable Contingent Resources of 207 MMboe to Lancaster. The discovery is located across blocks 205/21a, 205/22a and 205/26b West of Shetland on Frontier Licence P1368. All assets under the licence are controlled 100% by Hurricane.