Hurricane Energy Plc (LON:HUR) has confirmed Halifax’s place in its current drilling schedule, exercising its option with Transocean’s Spitsbergen rig.
The Halifax exploration well will follow the Lincoln well which is currently being drilled.
Hurricane's chief executive, Dr Robert Trice, recently described Halifax as “an extremely exciting opportunity” and a logical target following this year’s successes at Lancaster.
“Our exploration objective is to demonstrate that Halifax is analogous to Lancaster in that the reservoir is highly fractured and that a significant hydrocarbon column is present outside of structural closure,” Trice said.
“If we are successful in this aim, then we believe it will be a significant step in establishing the true extent of the Greater Lancaster Area.”
Lincoln drilling is currently underway
The Lincoln exploration well is located just nine kilometres from Lancaster, and drilling began around two weeks ago.
Hurricane currently believes Lincoln could contain 250mln barrels of crude.
As with the Lancaster wells, the plan is to confirm the geological theory, and quantify the amount of crude in the ground.
Lincoln is believed to be similar to Lancaster, and if the programme is successful it should add significant incremental value to what could become a ‘hub’ development in what would be known as the Greater Lancaster Area.
The programme is expected to take between 45 to 60 days, so a result could potentially come before the year end
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