Hurricane Flags Reserves Downgrade

摘要

UK-focused Hurricane Energy saw its share price plunge over 15% on Thursday after warning investors of a potential “material downgrade” of estimated reserves at its flagship Lancaster oil field and across its West of Shetland portfolio. Lancaster — the UK’s first producing fractured basement field — started producing light oil last June via an early production system (EPS) consisting of two wells tied back to the Aoka Mizu FPSO. An independent evaluation in 2017 attributed 37 million bbl of proved and probable (2P) reserves to Lancaster based on a six-year EPS, rising to 62 million bbl if it was extended to 10 years.