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OIL BARREL – Hurricane Energy

Hurricane Energy · Sep 25, 2014 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. OIL BARREL – Hurricane Energy – slide 1
    Basement Reservoir Specialists Oil Barrel 25 September 2014
  2. OIL BARREL – Hurricane Energy – slide 2
    Hurricane Energy plc Introduction Hurricanes assets This years operation Implications of this years operation Options for going forward Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 3
  3. OIL BARREL – Hurricane Energy – slide 3
    Hurricane is all about... Discovery and development of oil from naturally fractured basement reservoirs Hurricane has successfully found light oil in fractured basement reservoirs West of Shetland Potentially a strategic resource…
  4. OIL BARREL – Hurricane Energy – slide 4
    Natural fractures in basement rock Discovery and development of oil from naturally fractured basement reservoirs Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 5
  5. OIL BARREL – Hurricane Energy – slide 5
    Hurricane Prolific - Hurricane has discovered more oil in the UK in the past ten years than any other company High quality - All our discoveries have tested light oil to surface Leaders - We have done it on our own Masters of our…
  6. OIL BARREL – Hurricane Energy – slide 6
    UK Average discovery size MMboe Whirlwind (oil case) Lancaster Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 7
  7. OIL BARREL – Hurricane Energy – slide 7
    Significant resource discovered and large upside potential to confirm Hurricanes assets: Contingent and Prospective Resources Source: CPR November 2013 MMboe Greater Lancaster Area (GLA) Lancaster + Lincoln Schiehallion…
  8. OIL BARREL – Hurricane Energy – slide 8
    This years operation Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 9
  9. OIL BARREL – Hurricane Energy – slide 9
    Performance against plan Planned Drilling a 1 km horizontal well across nine seismically defined faults and perpendicular to the regional fracture network Undertaking a series of DSTs to evaluate reservoir potential - Natural…
  10. OIL BARREL – Hurricane Energy – slide 10
    Planned Outcome Drilling a 1 km horizontal well across nine Ten seismically defined faults encountered seismically defined faults and within the basement and the well confirmed perpendicular to the regional fracture the regional…
  11. OIL BARREL – Hurricane Energy – slide 11
    Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 12
  12. OIL BARREL – Hurricane Energy – slide 12
    Implications of well results Seismic map of basement faulting is fit for purpose and can be used confidently for well placement High basement angle wells can be drilled with confidence and with minimum damage to the reservoir…
  13. OIL BARREL – Hurricane Energy – slide 13
    CPR- identified risks for field development Ability to drill the proposed 2,000m horizontal section production wells within the fractured basement safely (given potential for drilling fluid losses associated with drilling fractured…
  14. OIL BARREL – Hurricane Energy – slide 14
    Options for going forward Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 15
  15. OIL BARREL – Hurricane Energy – slide 15
    Early production system EPS local infrastructure (under evaluation) EPS standalone vessel (under evaluation) - FDP Sanction Q2 2015 - 2 horizontal wells completed in 2017 (1 existing / 1 new) - First oil late 2017 - Potentially…
  16. OIL BARREL – Hurricane Energy – slide 16
    Lancaster Field EPS DP FPSO LDC5 1.5km LDC2 1.5km Lancaster Riser Base Structure Tie-in Structure Pipeline key Manifold Production Inclined Well Umbilical Horizontal Well Hurricane Oil Barrel 25 September 2014 17
  17. OIL BARREL – Hurricane Energy – slide 17
    The way ahead Technical work continues to refine development scenarios Various means of funding Lancasters development under review: - Farm-out process underway - Equity fundraising an option - Reserves-based lending a possibility…
  18. OIL BARREL – Hurricane Energy – slide 18
    Alternate options Explore / Appraise other opportunities / assets - Lincoln Prospective to Contingent Resources (P10-50-90 range 44-150-339 MMstb) Prospective additional de-risker of Lancaster development Hurricane Oil Barrel 25…
  19. OIL BARREL – Hurricane Energy – slide 19
    Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 20
  20. OIL BARREL – Hurricane Energy – slide 20
    Whirlwind Drilled in 2010, (205/21a-5) - 270m vertical hydrocarbon column found in limestone and underlying basement Re-entered in 2011 - successfully brought gas and light oil to surface Well suspended for future…
  21. OIL BARREL – Hurricane Energy – slide 21
    Whirlwind potential gas resources Bscf Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 22
  22. OIL BARREL – Hurricane Energy – slide 22
    Alternate options Explore / Appraise other opportunities / assets - Typhoon Prospective to Contingent Resources (P10-50-90 range 16-149-1,266 MMstb) In success case a follow up commitment well in deep water will be required…
  23. OIL BARREL – Hurricane Energy – slide 23
    Hurricane Oil Barrel 25 September 2014 AIM ticker: HUR 24
  24. OIL BARREL – Hurricane Energy – slide 24
    Basement potential of UKCS Basement play is the most extensive underexplored play on the UKCS Technical barriers to exploiting fractured basement are high - Hurricane is currently Europes leader in exploring offshore fractured…
  25. OIL BARREL – Hurricane Energy – slide 25
    Summary Were in very strong position having advanced the field this far while retaining a 100% interest Farm out process is underway The benefit of having two proven producing wells drilled means we have a range of options…
  26. OIL BARREL – Hurricane Energy – slide 26
    &A

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