Lincoln Well Discovers 'Significant' Oil Column

UK-based oil and gas company Hurricane Energy plc announced Monday that the Lincoln well, located west of the Shetland Islands, has discovered a “significant” oil column.

The company recently completed the drilling and logging phase of the 205/26b-A well (the Lincoln well), which resulted in a significant fractured basement discovery, according to Hurricane. Gas chromatography and drilling data indicated a “very significant hydrocarbon column of at least 2,165 feet,” Hurricane said in a company statement.

“I am delighted that, at the end of an extraordinary year for Hurricane, the Lincoln well has discovered a significant oil column outside structural closure on our Greater Lancaster Area acreage,” Robert Trice, CEO of Hurricane, said.

“Our initial assessment of the drilling results will be subject to refinement by analysis of wireline and sidewall core data, however, current analysis indicates that our pre-drill resource assessments - which were constrained by the oil down to in the Arco Well - of approximately 250 million barrels of recoverable oil for the Lincoln prospect may be conservative,” he added.

“I look forward to Hurricane’s imminent operations on the hugely important Halifax well and to simultaneously progressing towards the sanction of the Lancaster Early Production System in H1 2017,” Trice continued.