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Hurricane hits dud well

Hurricane hits dud well

Just a month after declaring first oil at its Lancaster field, Hurricane Energy (HUR) has had a setback to its expansion plans in the North Sea. The explorer and new producer’s Warwick Deep well has proved uncommercial after almost 2,000 metres of drilling, with the company saying the well “intersected a poorly connected section of the fracture network”. This news saw the share price fall by as much as 18 per cent on the day of the market update. 

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