UK-based independent explorer Hurricane Energy is planning two new appraisal wells on its Lancaster discovery after raising £52 million funding.
The two wells, called the Lancaster 7 wells, could help Hurricane make a final investment decision on plans for an early production system (EPS) on the field in H1 2017, with first oil possible in H1 2019.
The two wells are expected to be drilled on the West of Shetland fractured basement reservoir field late Q3 this year, which Hurricane says will allow it to take advantage of depressed oil field services rates.
Hurricane says the Lancaster 7 Wells will comprise a pilot well and a horizontal sidetrack well, designed to refine the Lancaster contingent resource range (currently 62-456 MMboe), provide a second future production well and provide new information to help optimally plan the Lancaster field development.
"The wells this summer will complete the number of wells needed for the early production system phase of the development and Hurricane still controls 100% of the asset," says the firm.
The current basis of design for the EPS phase of development consists of two horizontal production wells (the 2014 horizontal well and the planned 2016 horizontal sidetrack well), tied-back to a dedicated floating production, storage and offloading host facility.
Hurricane describes Lancaster as one of the largest yet-to-be-developed fields on the UK Continental Shelf, with a contingent resource of up to 450 MMbbl. First oil could be achieved in H1 2019.
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