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Oil Finds In the Scottish Continental Shelf –  Billions of Barrels to be Recovered From Fields Off the Shetlands

Only with independence will Scotland benefit from the abundance of oil yet to be recovered from the Scottish Continental Shelf. Delays will only benefit the UK Treasury to the detriment of Scotland as was the case with the North Sea oil. It is important the the Scottish electorate does not believe the negative hype of the Westminster based and directed media outlets.Potentially more oil in these few fields than there is left in Saudi Arabia.

 

 

 

 

 

 

 

 

Hurricane Energy

Hurricane is an oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs. The Company’s focus is to discover, appraise and develop oil reserves in basement rock.

Hurricane has already successfully discovered substantial volumes of oil on the UKCS. The Company has 444-470 mmboe of 2C Contingent Resources and 432-442 mmboe of P50 Prospective Resources on acreage it controls 100%.

The company was founded in 2005 by Dr Robert Trice with the help and encouragement of a private investor, in the belief that fractured basement reservoirs represent a significant untapped resource. Beginning with just a few highly expert staff, Hurricane gradually established a team of specialists with the skills, experience and determination to locate and develop this resource potential.

Through successful participation in a series of UK licensing rounds it has built a portfolio which includes third party verified Contingent Resources, ready to drill prospects and exploration leads.

In a short time Hurricane energy has achieved a great deal. During 2009 and 2010, the average size of oil discovery within the UK Continental Shelf was 20-23 million barrels.

In the same period, Hurricane discovered around 200 million barrels, twice ( figures extracted from an independently produced Competent Person’s Report (CPR). Since inception, Hurricane energy company has identified basement prospects, discovered oil and, most importantly, validated its model for basement exploration.

 

 

 

 

 

 

 

 

 

The Halifax Field
Seismic interpretation indicates the presence of a well-defined fault network within the fractured basement of the Halifax Prospect, analogous to that seen in Lancaster. Encouragingly, a previous well drilled on the Halifax structure encountered oil and gas shows in sandstones immediately above the basement. In addition, Hurricane’s analysis of basement cuttings indicates the presence of oil thus mitigating the oil charge risk to the Halifax Prospect.

The recently drilled Lancaster Pilot indicated that the Lancaster oil accumulation is likely to extend beyond the Lancaster licence boundary. The Company believes that if mobile oil can be demonstrated outside of local structural closure at Halifax, then the Lancaster Field could extend further North East along the Rona Ridge.

Recognising this, Hurricane has identified a well location on Halifax and acquired a site survey over the prospective well location in preparation for the drilling of an exploration well. On the basis that permits can be obtained in time, Hurricane intends to drill the Halifax Well immediately following the Lincoln Well.

Below is a 3D depth surface of the Halifax prospect indicating its position on the Rona Ridge in relationship to the Lancaster field and the Westray Transfer Zone. https://www.hurricaneenergy.com/Operations/HurricaneAssets/HalifaxBasementProspect/

 

 

 

 

 

 

 

 

 

The Lincoln Field
The Lincoln basement prospect is geologically similar to the nearby Lancaster structure. Seismic interpretation indicates the likely presence of fracturing within the basement and, encouragingly, a previous well drilled on the down-dip flank of the Lincoln structure found oil in sandstones immediately above the basement, thus mitigating the oil charge risk to the prospect. Traces of oil were also noted in the short interval of basement that was drilled below the oil bearing sandstones.

Given its proximity to Lancaster (approximately 7kms) and its resource potential (150 mmbo) Lincoln is an attractive prospect that could deliver significant incremental value via tie-back to a Lancaster development hub. Recognising this, we have already identified a well location on Lincoln and acquired a site survey over the site in preparation for drilling an exploration well, the timing ofwhich will be influenced by the results of the Lancaster appraisal drilling programme. https://www.hurricaneenergy.com/Operations/HurricaneAssets/LincolnBasementProspect/

 

 

 

 

 

 

 

 

The Lancaster Field
Located in relatively shallow water depths of 160 metres, Lancaster was the first basement prospect drilled by Hurricane and proved to be a significant discovery. The results of the drilling also indicated that significant upside potential could exist within Lancaster as oil shows were encountered at depth within the basement.

The Competent Person’s Report (CPR) assigns 207 MMboe of 2C Contingent Resources to Lancaster and concludes that individual well flow rates up to 8000 bopd are achievable from the basement. https://www.hurricaneenergy.com/Operations/HurricaneAssets/LancasterBasementDiscovery/

 

 

 

 

 

 

 

      

             

The Whirlwind Field

Whirlwind is mapped as a large (approximately 33 km2) basement structure that is approximately 2000 metres deeper than Lancaster, although it is likely to be charged from the same source. Whirlwind was drilled during 2010 . The well flowed light oil/gas-condensate from an open hole test conducted over Lower Cretaceous limestone. The CPR has assigned 2C Contingent Resources of 205 MMboe (oil case) or 179 MMboe (gas –condensate case) to Whirlwind. https://www.hurricaneenergy.com/Operations/HurricaneAssets/WhirlwindBasementDiscovery/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Strathmore Field

Strathmore is an undeveloped oil field first discovered in 1990. Strathmore is a sandstone reservoir, not a fractured basement. The field contains oil in Triassic-aged sandstones. https://www.hurricaneenergy.com/Operations/HurricaneAssets/StrathmoreSandstoneDiscovery/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Typhoon Field

Typhoon is primarily a basement prospect but also offers potential in overlying Jurassic sandstones. Previous drilling during the 1980s on Typhoon resulted in heavy oil being discovered in both the basement and the Jurassic sandstones. A subsequent well deep on the flank of the structure encountered oil in the basement indicative of a light oil charge. These previously drilled wells lead Hurricane to believe that significant volumes of lighter oil could be present deeper within the prospect, as a flank accumulation. The 2011 CPR has assigned unrisked P50 Prospective Resources of 149 MMboe to Typhoon and 1,266 MMboe for the P10 volume acknowledging the material. https://www.hurricaneenergy.com/Operations/HurricaneAssets/TyphoonBasementProspect/

 

 

 

 

 

 

 

 

 

 

 

 

The Warwick Field
The Warwick basement prospect is geologically similar to the nearby Lancaster and Lincoln structures. Seismic interpretation indicates the presence of faulting within the basement and, by inference from Lancaster, an associated fracture network is expected to be present. Given its proximity to Lancaster, Warwick is an attractive prospect that could deliver significant incremental value via tie-back to a Lancaster development hub.

Recognising this, Hurricane intends to undertake further fault mapping and volumetric assessment, with the objective of locating a Warwick drill location. Drilling of Warwick is expected to be aligned with progress on the Lancaster Early Production System. https://www.hurricaneenergy.com/Operations/HurricaneAssets/WarwickBasementProspect/

 

 

 

 

 

 

https://www.hurricaneenergy.com/Operations/HurricaneAssets/LincolnBasementProspect/
“https://www.hurricaneenergy.com/Communications/RegulatoryNewsService/”
“https://www.hurricaneenergy.com/Company/Ourstory/”
“https://www.hurricaneenergy.com/Communications/Glossary/”
“https://www.hurricaneenergy.com/Communications/Presentations/”
“https://www.hurricaneenergy.com/assets/Documents/CorporatePresentation1Q2017.pdf?1483986577”
“https://www.hurricaneenergy.com/assets/Documents/ConceptualisingnewInfrastructureHubWoSPDF2.pdf?1445336331”
“https://www.hurricaneenergy.com/assets/Documents/PGC30Sep15PDFnospeakernotes.pdf?1445335372”