Rig Delay Forces Hurricane Energy to Cancel Lancaster Drilling (UK)

Hurricane Energy plc announces it will not be carrying out its expected operations for the horizontal well on its Lancaster discovery this summer.

Hurricane had contracted to use the Global Arctic III rig but has elected not to proceed with the programme due to extensive delays outside of Hurricane’s control that have prevented the Company being handed the rig on schedule. These delays would have left the company with insufficient time to undertake its drilling and testing programme. The contract has therefore been cancelled.

Robert Trice CEO said “Naturally it is disappointing to withdraw from the rig contract we had planned to use for an extended well test on Lancaster. However, we have been able to protect the company from the invidious position of being forced to take the rig in conditions that were likely to have compromised the test results and potentially exposed us to significant additional costs related to winter weather. We now turn our attention to operations for 2014 to pursue the further exploration, appraisal and development of our assets West of Shetland.”