11th Jun 2021 14:27
Hurricane Energy PLC - Surrey, England-based producer from Lancaster oil field, located west of Shetland - Says its P6 well is now on natural flow of 9,000 to 11,000 barrels of oil per day rate after its pump broke. The company's single remaining well at the Lancaster field site, P6, is assisted by an electric submersible pump, which tripped on Tuesday causing the well to close temporarily. Decides to restart the well on natural flow to fulfil the minimum lifting quantity for the next Lancaster lifting, which is scheduled for the week commencing June 14.
Before the pump broke, the P6 well produced 353,000 barrels, with an average oil rate of 11,370 barrels per day through May. In April the company noted that should the electric submersible pump in the P6 well fail it might not possible to restore it, and the well would have to be run at a permanently lower rate.
Current stock price: 1.33 pence, up 19% on Friday afternoon
Year-to-date change: down 47%
By Scarlett Butler; [email protected]
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