Hurricane Oil down on production update

By
1 mins. to read
Hurricane Oil down on production update
Master Investor Magazine

Master Investor Magazine 54Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The price of shares in AIM-listed oil and gas outfit Hurricane Energy (LON:HUR) has dropped by 1.60% to 43.02p (as of 14:00 BST) after it said that production at the Lancaster EPS had been better than expected since first oil. Average production has been 14,400 barrels of oil per day and 1.2 million barrels have been sold to date.

CEO Dr. Robert Trice commented: “We are delighted to provide an update on Lancaster EPS progress and to communicate that our production levels have been above expectations for this early phase of operations. However, despite these promising results, we remain cognisant that it will take up to a year to acquire and interpret sufficient performance information to test our reservoir model of the field.

“Now that we are back to flowing the Lancaster wells through separate flowlines, we look forward to gathering data on individual well performance to help optimise well delivery as well as improve the Company’s understanding of the reservoir’s performance.

“On the Greater Warwick Area, Lincoln Crestal well operations are now progressing to drill stem testing. We look forward to reporting the result shortly”.

Take part in our poll

Of the stocks covered by Master Investor in the weekly Small Cap Round Up, which ones do you hold?


The Master Investor Show 2020 tickets are now available. Join us at the Business Design Centre on Saturday 28 March 2020.

Book your FREE tickets today using code: MIBLOG

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.