Hurricane Energy gets licence leeway for Greater Warwick Area project

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Hurricane Energy gets licence leeway for Greater Warwick Area project

Hurricane Energy Plc (LON:HUR) has secured an extension to certain licence obligations for the Greater Warwick Area (GWA) project due to the impacts of the coronavirus (COVID-19) pandemic.

The company in a statement said that is requested the leeway from the UK regulator the Oil and Gas Authority and it subsequently responded positively to the company’s request.

READ: Hurricane to miss production targets as it shuts one well

Hurricane noted that the OGA has extended the deadline for the start of the GWA joint venture’s commitment well on the Lincoln area, out to June 2022, and, has extended the deadline for the plugging and abandonment of the Lincoln Crestal well out to June 2021.

“We would like to thank the Oil and Gas Authority for their flexibility regarding the timing of activities planned at Lincoln during these challenging times,” said Dr Robert Trice, Hurricane chief executive.

The extensions come also as British Gas owner Centrica seeks to exit its 69% stakeholding in Spirit Energy, Hurricane’s joint venture partner at GWA – albeit in April the sales process was said to have paused amid the pandemic.

Proactiveinvestors.co.uk

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