Big oil discovery confirmed west of Shetland

Hurricane Energy on Monday confirmed weekend reports that it made a further, important oil discovery west of Shetland, calling the find “the largest undeveloped discovery on the UK Continental Shelf.”

Hurricane announced the completion of the Halifax Well operations, saying “the well is an oil discovery with initial data analysis indicating Halifax is linked to the Lancaster field forming a single large hydrocarbon accumulation.”

Hurricane added: “The principal purpose of the Halifax Well was to support the company’s view that the Lancaster Field and the Halifax prospect are one large connected structure.

“Well results support the company’s opinion. The Halifax Well has successfully identified an extensive oil column …”

Hurricane  CEO Robert Trice said: “This is a highly significant moment for Hurricane and I am delighted that the Halifax Well results support the company’s view that its substantial Lancaster discovery has been extended to include the Halifax licence.

“We believe that the GLA (Greater Lancaster Area) is a single hydrocarbon accumulation, making it the largest undeveloped discovery on the UK Continental Shelf.

“The discovery of a 1km hydrocarbon column at Halifax validates the efforts the company undertook to acquire the licence and drill, test and log the Halifax Well through the winter months …

“The exploration wells on Lincoln and Halifax have resulted in the discovery of extensive oil columns and we therefore expect that later iterations of our CPR (competent persons’ report) will significantly upgrade our resource base on both the Greater Lancaster and Greater Warwick Areas …

“These are exciting times for Hurricane.”