Hurricane Energy plc announced Wednesday the spudding of the Lincoln well, located in the North Sea near the Lancaster discovery.
The Lincoln well is targeting a basement prospect geologically similar to the nearby Lancaster structure. Seismic interpretation indicates a well-connected fault network within the Lincoln basement, according to Hurricane, and a previous well (205/26-1) drilled in 1975 by Arco on the down-dip flank of the Lincoln structure found oil in sandstones immediately above the basement, therefore mitigating the oil charge risk to the prospect.
A CPR previously identified P50 Prospective Resources of 150 million barrels in the Lincoln field and Hurricane believes that the asset could have unrisked Prospective Resources of up to approximately 250 million barrels.
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