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Hurricane Energy Provides Lancaster field operations Update

10/06/2021

Hurricane Energy plc, the UK based oil and gas company, provides an update on Lancaster field operations, pursuant to the Company's reporting framework outlined in the Proposed Financial Restructuring announcement as initially published by the Company on 30 April 2021.

The following table details production volumes, water cut and minimum flowing bottom hole pressure for the 205/21a-6 ("P6") well during May 2021.

May 2021 Lancaster Field Data

  P6 P7z(1)
Oil produced during the month (Mbbls) 353
Average oil rate (bopd) 11,370
Water produced during the month (Mbbls) 149
Average water cut(2) 30%
Well gauge pressure (psia)(3) 1,651
  1. The 205/21a-7z (“P7z”) well was not on production during May 2021
  2. Expressed as total water produced divided by total fluid (oil and water) production
  3. Pressure reported is the monthly minimum from well downhole gauge

The 22nd cargo of Lancaster oil, totalling approximately 512 Mbbls, was lifted in early May 2021.

As of 7 June 2021, Lancaster was producing 11,020 bopd from the P6 well alone with an associated water cut of 31%. On 8 June 2021, the electric submersible pump ("ESP") in the P6 well tripped causing the well to be shut in. The well is currently on natural flow while the cause of the trip is investigated and the ESP's electrical system is tested ahead of an attempt to restart the ESP. Further announcements will be made in due course.

 KeyFacts Energy: Hurricane Energy UK country profile

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