|
|
|
|
|
|
|
|
|
-
-
- Get the latest oil & gas news
-
-
-
- Offshore Directory will be launched in October!
-
- Weekly news summary - over 30,000 subscribers
-
-
|
Whirlwind well test looms
 A UK exploration minnow is moving towards a test on a West of Shetland oil discovery to bring it closer to development
Hurricane Exploration based down in Alton in Hampshire near the UK south coast – it couldn't be further from most of the British oil industry in Aberdeen – is raising up to £20 million through new share placings to have the necessary cash to re-enter a well on the Whirlwind oil discovery in the UK West of Shetlands region and to carry out a drill stem test to further evaluate the reservoir and fluid properties.
Also a letter of intent has been issued by Hurricane to AGR Petroleum Services to provide well management and to contract a drilling slot on the WilPhoenix semi-submersible rig to carry out the drill stem tests later this summer.
A total of 1.8 million new shares are being placed with institutional investors, while another 23,018 is being placed with two Hurricane directors in two further tranches to raise the £20 million to finance the new well test programme.
Already Hurricane, which is focused on particular geological plays including fractured basement reservoirs, has booked the Lancaster oil discovery also in the West of Shetlands with prospective reserves of 147 million barrels of oil, and which has tested at 15,000 b/d of oil.
Whirlwind was discovered last year and encountered 270 metres (885 feet) total vertical depth of gross oil over a limestone and basement interval, but the well had to be abandoned last year due to bad weather and the discovery well had to be abandoned for further testing.
Another prospect, Lancaster, which is considered to be geologically analogous to Lancaster and Whirlwind has been identified by Hurricane in the West of Shetlands region, which is also a basement oil prospect on the same geological trend and of similar size.
Advertisement
 Estimated reserves in the UK North Sea Fyne field have been cut down 36% by former operator Antrim Energy and further doubt has been cast over the future development of the discovery. [Les mer ] • Field development
 Tullow Oil has revealed that a new well on the Ketch field in the UK Southern North Sea has come in successfully and is to be brought onstream. [Les mer ] • Field development
 Norwegian industrial group Aker ASA says it value rose 16% in the first quarter to NOK 22.5 billion (US $3.74 bn) as its investments – mainly in oil and gas operations - rose in value. [Les mer ] • Company news
 Middle East-based rig and fabrication group Lamprell has warned of a tightening in the international supply chain for rig components which has hit its construction schedules and costs. [Les mer ] • Company news
 Bond Offshore is to resume flying with its fleet of Eurocopter Super Puma helicopters after its own investigation of a gearbox fault which caused a North Sea crew change flight to ditch into the sea. [Les mer ] • HSE
 Dutch based Dockwise has launched a mandatory but hostile takeover offer for shares in rival Fairstar Heavy Transport which it does not already own. [Les mer ] • Company news
|
Aker group grows value Norwegian industrial group Aker ASA says it value rose 16% in the first quarter to NOK 22.5 billion (US $3.74 bn) as its investments – mainly in oil and gas operations rose in value.
Full story |
Company news
|
|
|
|
|
|