Hurricane Energy plc – ‘Lincoln Crestal’ 205/26b-14 Well Result

12 Sep 2019 Hurricane Energy plc – ‘Lincoln Crestal’ 205/26b-14 Well Result

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to report the results of testing of the 205/26b-14 well (“Lincoln Crestal”).

Highlights

·     Maximum stable flow rate of 9,800 stb/d on ESPs

·     Lincoln confirmed to contain light, 43° API oil

·     No formation water produced

·     Well now planned to be suspended as a future producer

Testing of the Lincoln Crestal well recorded a maximum stable flowrate of 9,800 stock tank barrels of oil per day (“stb/d”) with the use of electrical submersible pumps (“ESPs”). The well flowed at an average rate of 4,682 stb/d under natural conditions. No formation water was produced.

Lincoln Crestal is the second well in a three-well programme on the Greater Warwick Area (“GWA”). The well was spudded on 12 July 2019 and was drilled to a total depth of 1,780 m TVDSS. It included a 720 m horizontal section of fractured basement reservoir.

The well will now be suspended, subject to regulatory approval, with long term gauges installed to test interference with future GWA wells. It is then planned to be tied-back to the Aoka Mizu FPSO during 2020, subject to further technical evaluations, regulatory consent and final investment decision by the joint venture. Production from the tie-back would generate reservoir data to be used in planning future phases of development.

The Transocean Leader semi-submersible rig will now move to the location for the third well in the 2019 GWA drilling programme, 204/30b-A ‘Warwick West’.

Dr Robert Trice, Chief Executive of Hurricane, commented:

“We are delighted with the results of the Lincoln Crestal well. We have confirmed the presence of light oil which can be produced at commercial rates. The Lincoln Crestal well is now planned to be tied back to the Aoka Mizu FPSO next year. This would make Lincoln the second producing basement field in the UK.

Based on the result of the 2016 Lincoln well, RPS Energy assigned 2C contingent resources of 604 million barrels of oil equivalent to Lincoln. This successful result brings us closer to monetising this huge resource.”

For more information:
Hurricane Energy – ‘Lincoln Crestal’ 205-26b-14 Well Result