(Alliance News) - Hurricane Energy PLC on Tuesday said its production in October was above the previous expectations for the month, due additional uptime on the floating production, storage and offloading vessel.
Hurricane Energy said it produced 323,000 barrels of oil in October from the P6 well in Lancaster field, an average rate of 10,420 barrels of oil per day. As of Sunday last week, this had slipped to 10,150 bopd.
Hurricane said it had anticipated the well gauge pressure at its Lancaster field operation, located west of Shetland, would reach the bubble point by the end of the first quarter of 2022. However, the company said Tuesday the most recent trends indicate that this point, when saturated gas starts to emerge from oil, is now anticipated between late December 2021 and mid-February 2022.
It said it had free cash of USD99 million as of October 31, up from USD73 million a month before.
Hurricane Energy shares were trading 4.1% lower in London on Tuesday at 4.65 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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