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.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Undiscovered Oil, Gas Resources in Bar... (Apr 25)
 -  Petrofac Secures $70MM Services Contra... (Apr 25)
 -  CEO: Another Year of Activity Decline ... (Apr 25)
 -  Petronas Awards 'Key' Offshore Contrac... (Apr 24)
 -  Genel Energy Appoints New Chairman (Apr 24)


Most Popular Articles

From the Career Center
Jobs that may interest you
Lease Operator (Three Rivers)
Expertise: Production Operator
Location: Three Rivers, TX
 
Control Room Operator
Expertise: Production Operator
Location: Runge, TX
 
Lease Operator - EOI
Expertise: Gas Plant Operations
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $51.68/BBL 0.27%
Light Crude Oil : $49.25/BBL 0.74%
Natural Gas : $3.24/MMBtu 3.18%
Updated in last 24 hours