Business model

Hurricane’s expertise lies in identifying, appraising and developing naturally fractured basement reservoirs.

Focussed basement expertise

  • Technically driven
  • Explore, develop and produce our Rona Ridge assets
  • Lancaster EPS provides reservoir knowledge to materially derisk the producibility of our Rona Ridge assets

Health, safety and the environment

  • Prioritise health, safety and the environment at all times
  • Do things the right way, never compromising safety or quality and implementing measures to protect the environment

Operate with excellence

  • Limited number of appropriately incentivised Tier 1 contractors, to minimise operating costs without compromising delivery
  • Engage with the regulator to ensure licence to operate never becomes a bottleneck

Deliver value

  • Focus on minimising finding and development costs to progress assets to a stage where significant uncertainties are removed
  • Accept that maintaining higher licence interests than is typical for more common reservoir types may be optimal for basement assets

Strategy

Hurricane’s strategy is to create shareholder value through monetising the significant reserves and resources associated with the naturally fractured basement reservoirs within its portfolio through exploration, appraisal and development.

Strategic Goals
  • Explore and appraise fractured basement assets within Hurricane’s Rona Ridge portfolio
 
Past Achievements
  • Six successful exploration/appraisal wells
  • Lancaster -4
  • Lancaster -4Z
  • Whirlwind
  • Lancaster -7
  • Lincoln
  • Halifax
Future Plans
  • Narrow range of reserves and contingent resources on Hurricane’s Rona Ridge assets through the acquisition and interpretation of EPS data and through additional exploration and appraisal drilling
 
Strategic Goals
  • Progress assets to a stage where value is expected to be maximised
 
Past Achievements
  • Two horizontal wells on Lancaster suspended as future producers
  • EPS Financing – Funded to first production
  • EPS FID Taken – Development launched
  • EPS FDP Approval – First major standalone UK FDP since Culzean, 2015
  • Lancaster -6
  • Lancaster -7Z
Future Plans
  • Gas export/disposal strategy
  • Future phase(s) of field development
  • Farm-out/sale
 
Strategic Goals
  • Extended production intended to generate sufficient data to allow for planning of future phase(s) of development
 
Past Achievements
  • Lancaster EPS contracts executed
  • Lancaster EPS development progressed
 
Future Plans
  • Maximise use of Aoka Mizu capacity
  • Further phase(s) of development
 

SHAREHOLDER VALUE THROUGH MONETISATION


HEALTH, SAFETY & THE ENVIRONMENT

Business model and strategy above is as described in Hurricane's 2017 annual report.