Big Shetland oil field ‘ahead of expectations’

West of Shetland oil and gas explorer Hurricane Energy plc on Monday gave investors an update on its important Lancaster field, where it achieved “First Oil” earlier this summer.

Hurrican said production levels have been above expectations for this early phase of operations.

It said the Lancaster early production system (EPS) has been “above guidance” with average production rate of about 14,400 barrels of oil per day (bopd) from First Oil through August 17.

It said 1.2 million barrels of crude oil have been sold to date.

Hurricane Energy CEO Robert Trice said: “We are delighted to provide an update on Lancaster EPS progress and to communicate that our production levels have been above expectations for this early phase of operations.

“However, despite these promising results, we remain cognisant that it will take up to a year to acquire and interpret sufficient performance information to test our reservoir model of the field. 

“Now that we are back to flowing the Lancaster wells through separate flowlines, we look forward to gathering data on individual well performance to help optimise well delivery as well as improve the Ccompany’s understanding of the reservoir’s performance. 

“On the Greater Warwick Area, Lincoln Crestal well operations are now progressing to drill stem testing. We look forward to reporting the result shortly.”

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