GODALMING, UK – Hurricane Energy has secured two more blocks west of Shetland under the UK Oil and Gas Authority’s 28th Offshore Licensing Round Second Tranche of Offers.
Hurricane’s applications for blocks 204/30b and 205/26d were based on identification of a new basement prospect named Warwick – considered analogous to the company’s basementLancaster discovery – and on a possible extension of its Lincoln prospect.
The commitment includes a drill-or-drop decision on either of the identified prospects.
Since completing an appraisal well on Lancaster last year, Hurricane has worked with Schlumberger to develop a full-field simulation model of the reservoir. They aim to optimize the model in order to refine the development.
One conclusion from analysis of the 1-km (.6-mi) horizontal well is that the reservoir could be developed commercially in phases at an oil price below the current level, initially via an early production system.