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Hurricane: watch from a distance

Hurricane: watch from a distance

First oil from Hurricane Energy’s (HUR) Lancaster field is a year away. At just $50 (£35) Brent crude, and assuming an initial production rate of 17,000 barrels of oil per day (bopd) from its fully-funded early production system, the maverick North Sea explorer expects annual operating cash flows to quickly hit $152m for at least six years. In turn, log data will point to the best possible route for full field development, and kick off the phased development of 2.6bn barrels of contingent resources. If all goes well, the door has been left open to a sale or farm-out.

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