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.
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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