Recoverable Lancaster Resources Could Be 3x Larger Than Initially Thought

Recoverable Lancaster Resources Could Be 3x Larger Than Initially Thought
Recoverable resources from the Lancaster asset, located in the West of Shetland area, could be triple the amount outlined by a 2013 CPR figure, according to Hurricane Energy plc.

Recoverable resources from the Lancaster asset, located in the West of Shetland area, could be triple the amount outlined by a 2013 CPR figure, according to Hurricane Energy plc.

In a capital markets event presentation, Hurricane revealed that it was working with a target base case resource of 593 million barrels. This is almost three times the amount of the 200 million barrel figure highlighted by a CPR report in 2013.

Last month Hurricane announced that the Greater Lancaster Area was a single hydrocarbon accumulation, making it the largest undeveloped discovery on the UK Continental Shelf.

The company stated that the recent 205/23-3A Halifax well operations resulted in an oil discovery, with initial data analysis indicating that the well is linked to the Lancaster field, forming a single large hydrocarbon accumulation. 

Halifax has been suspended to allow for potential future operations to either deepen and/or undertake further testing of the well, the program for which will be determined following analysis of the well results.



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