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Warwick & Lincoln 3 wells drilling 2019

lse:hur

#263

I think drilling WD at a different angle has been mentioned to cut across most fractures.
I would like to think I wouldn’t sell below 100p but a world wide recession may mean that is a long way off.


#264

Rumours on other bbs about a flare being seen on the oil rig. Watch for developments.


#265

No confirmed flare seen yet unfortunately. The first well Warwick Deep was spudded on 16th April , and Lincoln Crestal on 12th July, so still early days really. Looks as if drilling may only finish in December. Not sure who would pay for any overrunning.


#266

Down 4.4%. I hope that doesn’t indicate anything bad.


#267

MMs taking out stop losses. I held Dragon oil a few years back and they would do it every Friday. Looks like Hurr could now be the one they play.


#268

I held Dragon Oil too… another frustrating share and a very similar discussion board. It all turned out alright in the end though for the long term holder… hoping HUR will end up the same.


#269

I held a few shares in Dragon but gave up far too early and missed out on a pretty decent sum of money.


#270

Don’t do the same with this one! DYOR.


#271

https://www.investegate.co.uk/hurricane-energy-plc--hur-/rns/operational-update/201909020700068019K/
Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, is pleased to provide an operational update in relation to the Lancaster Early Production System (“Lancaster EPS”) and the 205/26b-14 well (“Lincoln Crestal”).

Highlights

· Lancaster EPS system availability and production since First Oil above guidance
· Average production rate of c. 14,400 barrels of oil per day (“bopd”) from First Oil to latest lifting on 17 August
· 1.2 million barrels of crude oil sold to date
· Lincoln Crestal well now being prepared for drill stem testing.

Lancaster EPS

The start-up phase of the Lancaster EPS commenced with introduction of hydrocarbons on 11 May 2019. The first oil milestone (“First Oil”) was achieved on 4 June 2019. For a significant portion of the period from First Oil to date, production has been constrained by the use of only one of two subsea flowlines, as a result of operational necessity. This has limited maximum production capacity and Hurricane’s ability to carry out activities planned to increase the Company’s understanding of the reservoir’s performance. Notwithstanding this constraint, since First Oil, Lancaster EPS system availability, production and cash flow generation have been above Company guidance.

Operations have now recommenced with two flowlines. As operations move into the next phase of commissioning over the coming months, production and availability are likely to be constrained as certain planned works and delayed data gathering activities will require periods of production shut-in. Hurricane therefore expects system availability to revert towards prior guidance, being 45% for Q3 and 65% for Q4.

Lancaster EPS performance to date:
· Average production rate: c. 14,400 bopd from First Oil to latest lifting on 17 August 2019
· Total crude oil liftings: 1.2 million barrels over three cargos
· Overall system availability: currently in excess of 85% long term guidance
· Most recent aggregate stabilised water cut: 7.5%

Hurricane’s analysis of water production continues to indicate the presence within expected ranges of stranded or perched water, with no indications of aquifer water. Production over the last month has been through a single flowline and therefore water cut cannot be attributed between the two wells. Further data will be available now that production through both flowlines has recommenced. This will facilitate better understanding of individual well performance and water cut. It will also allow planned flow rate variation to be undertaken, in order to optimise well performance.

Forward commissioning for the Lancaster EPS over the coming months will include:
· Fuel gas compressor commissioning to reduce long-term flaring levels and operational expenditure
· Produced water system commissioning activities
· Return to dual flowline operations
Further operational commentary on Lancaster EPS performance will be made in Hurricane’s 2019 interim results, scheduled for release on 20 September 2019.

Hurricane maintains its production guidance for the second half of 2019 at the aggregate level (Approximately 11,000 bopd based on previously advised expected system availabilities of 45% in Q3 and 65% in Q4).

Lincoln Crestal Update

Lincoln Crestal is the second well in a three-well programme on Lincoln and Warwick (the “Greater Warwick Area”) being drilled in partnership with Spirit Energy following their farm-in to 50% of the Greater Warwick Area in September 2018. The wells are being drilled using the Transocean Leader semi-submersible drilling rig.

Lincoln Crestal was spudded on 12 July 2019 and has now reached total depth of 1,780 m TVDSS, including a 720 m horizontal section of fractured basement reservoir. Lincoln Crestal operations have now moved onto preparation for drill stem testing. A further update will be made following the completion of this stage.

Dr Robert Trice, Chief Executive of Hurricane, commented:

"We are delighted to provide an update on Lancaster EPS progress and to communicate that our production levels have been above expectations for this early phase of operations. However, despite these promising results, we remain cognisant that it will take up to a year to acquire and interpret sufficient performance information to test our reservoir model of the field.

"Now that we are back to flowing the Lancaster wells through separate flowlines, we look forward to gathering data on individual well performance to help optimise well delivery as well as improve the Company’s understanding of the reservoir’s performance.

“On the Greater Warwick Area, Lincoln Crestal well operations are now progressing to drill stem testing. We look forward to reporting the result shortly.”


#272

Layman’s explanation of “drill stem testing” please.


#273

Others will be able to answer better than me but once the main part of the drilling has got to the required depth they then test the rock formation, oil presence (or not) and a guess at the field size. Pretty crucial.

A good site for all terms is:

https://www.glossary.oilfield.slb.com/


#274

Sorry in advance @Ecologist for the sarcastic link. :stuck_out_tongue_winking_eye:

https://lmgtfy.com/?q=DST+Drill+Stem+Test


#275

LOL, no trouble Johnnie. I’ll get you next time.


#276

From Biffadog
Just so nobody worries too much about the recent loss of one of the flow lines.

It was caused by an issue with a valve in the turret and the problem has been fully resolved.

It was only out for about a month.

Info from HUR IR.


#277

From Murray604 on LSE

A relatively new poster to LSE - rates HUR as a strong buy, posted the following article this evening:

GODALMING, UK – The Lincoln Crestal well west of Shetland has reached TVDSS of 1,780 m (5,840 ft), according to Hurricane Energy.

This is the second of three back-to-back wells the company and partner Spirit Energy are drilling in the Gretater Warwick Area, using the semisub Transocean Leader.

Lincoln Crestal, spud on July 12, has intersected a 720-m (2,362-ft) horizontal section of fractured basement reservoir. Currently the rig crew are preparing for drillstem testing.

Hurricane also provided an update on the Lancaster field early production system in the same area, which started on May 11.

Since first oil, production has been constrained by the use of only one of two subsea ?owlines, for operational reasons. This has limited maximum throughput capacity and activities needed to improve understanding of the fractured basement reservoir performance.

However, both ?owlines are now in service. The company’s analysis of water production indicates the presence (within expected ranges) of stranded or perched water, but no signs of aquifer water.

Water cut analysis should improve now that both flowlines are available and allow for flow rate variation to be performed from the wells, in order to optimize performance.

Upcoming tasks over the next few months will include fuel gas compressor commissioning to reduce long-term flaring levels and opex; and produced water system commissioning.

09/03/2019

https://www.offshore-mag.com/drilling-completion/article/14039166/west-of-shetland-lincoln-well-enters-test-phase


#278

Can’t find anything different to what was posted by Hurricane Energy on Monday, is there anything?

https://www.hurricaneenergy.com


#279

Everyone just waiting for a sight of flaring


#280

Am I correct in assuming that the above should really read:

Lincoln Crestal, spud on July 12, has intersected a horizontal section of fractured basement reservoir at a depth of 720-m (2,362-ft).

Or is that just being unnecessarily

Flodantic


#281

Or was the drill directional which meant that the last section was virtually

Florizontal?


#282

I read it as the horizontal was 720m long, at whatever angle.