Hurricane Energy reports well success at Lancaster field

AIM-listed oil and gas company Hurricane Energy said its second well at the Lancaster field, the 205 21a-7Z well, has achieved a sustainable flow rate of 14,500 stock tank barrels of oil per day.

Hurricane said the well, which is a horizontal sidetrack of the first well at the Lancaster field, will be suspended for use as a future producer, providing a second production well ahead of the early production system phase of the development.

Chief executive officer Robert Trice said: “We are highly encouraged by this flow rate which reinforces our reservoir model and further demonstrates the production potential of the Lancaster field. I look forward to providing a further update once we complete our testing programme."

At 1023 BST, the shares were down 0.2% to 39.68p.