OGA Says Hurricane Can Split Up its West of Shetland License
UK-focused junior explorer Hurricane Energy reported Monday that the UK's Oil and Gas Authority has granted approval for the firm's P1368 license, West of Shetland, to be subdivided into four sub-areas.
The sub-areas will be: P1368 Central, which contains the Lancaster basement discovery; P1368 North, containing the Whirlwind basement discovery; P1368 South, containing the Lincoln basement prospect; and P1368 Southwest, containing the Strathmore sandstone discovery.
Additionally, the OGA has given Hurricane a two-year extension on the requirement for the drilling of an exploration well on the Lincoln basement prospect until Dec. 31, 2019.
Hurricane Chief Executive Dr Robert Trice commented in a company statement:
"The license subdivision is a further important step in the progression of Hurricane's assets as it provides greater flexibility as we progress the options to farm-down our interests in discoveries or prospects within the original P1368 license."
WHAT DO YOU THINK?
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.
- Hurricane Energy to Raise $520 Million to Fund North Sea Field (Jun 29)
- OGA Says Hurricane Can Split Up its West of Shetland License (Nov 09)
- Hurricane Scores Success with Lancaster Appraisal Well (Jun 26)