Hurricane Energy (HUR)

Business description

Hurricane Energy is an E&P focused on UKCS fractured basement exploration. It owns 100% of the 523mmbbl (RPS 2P reserves plus 2C resources) Lancaster oil discovery, West of Shetland.

Stock data

Market cap.£445.2m
Last close36.25p
High / Low (52 weeks)67.0p / 16.0p
Stock market listingLN
Forecast net cash (£m)243.1
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual(25.3)(38.6)134.3
Relative *(24)(39.9)86.7

* % Relative to local index

Other companies in sector Show

88 Energy Activa Resources
ADX Energy Afren
African Petroleum Corporation Aminex
Andes Energia Antares Energy
Athabasca Resources AusTex Oil
AWE Azonto Petroleum
Bankers Petroleum Bitesize Briefing
BNK Petroleum Bowleven
Bridge Energy Buru Energy
Cairn Energy Canacol Energy
Canadian Overseas Petroleum Canoel International Energy
Cap Energy Carbon Energy
Carnarvon Petroleum CBM Asia Development
Central Petroleum Challenger Energy
Coastal Energy Columbus Energy Resources
Cooper Energy Core Laboratories
Cue Energy Denbury Resources
DEO Petroleum Deutsche Rohstoff
Dragon Oil Drillsearch Energy
Egdon Resources Elk Petroleum
Energy XXI Exillon Energy
Exoma Energy Falkland Oil & Gas
Faroe Petroleum Fastnet Oil & Gas
Forum Energy Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Green Dragon Gas
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
High Peak Royalties Hydrodec Group
IPB Petroleum Ithaca Energy
JKX Oil & Gas Karoon Gas
Kea Petroleum Kina Petroleum
Kreuz Holdings Lansdowne Oil & Gas
Leed Petroleum Leigh Creek Energy
LGO Energy Lion Energy
Liquefied Natural Gas Limited Lochard Energy
Madagascar Oil Madalena Energy
MEC Resources Mediterranean Oil & Gas
MEO Australia Mosman Oil and Gas
Nautical Petroleum New Standard Energy
New Zealand Oil & Gas Nido Petroleum
Nighthawk Energy North Sea Energy
Northern Petroleum Norwest Energy
Otto Energy Pacific Rubiales
Parex Resources Petrel Energy
Petroceltic Petromanas Energy
Petrominerales Po Valley Energy
Premier Oil President Energy
Pura Vida Energy Quadrise Fuels International
Ramba Energy Range Resources
Real Energy Real Energy Corporation
Regal Petroleum Rockhopper Exploration
SacOil Holdings Salamander Energy
SDX Energy Sefton Resources
Senex Energy Sequa Petroleum
ShaMaran Petroleum Simba Energy
SOCO International Solo Oil
Sound Oil Sterling Energy
Stratic Energy Tethys Petroleum
Touchstone Exploration Tower Resources
TransAtlantic Petroleum TransGlobe Energy
Valiant Petroleum Victoria Oil & Gas
Wentworth Resources WestSide Corporation
Xcite Energy

Company news

Hurricane Energy shares are 'likely' to be considerably higher in a year ...

Wed, 21 Jun 2017 11:38:36 GMT

Hurricane Energy share price decline the drag on Crystal Amber stock, investor ...

Fri, 23 Jun 2017 06:48:28 GMT

Hurricane Energy completes Halifax well operations, initial data analysis

Mon, 27 Mar 2017 10:41:15 GMT

With the price of oil gushing lower, are Tullow Oil plc and Hurricane Energy ...

Wed, 28 Jun 2017 14:48:45 GMT

Hurricane Energy still mulling funding options for early production system

Wed, 07 Jun 2017 11:46:51 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 0.0 (5.4) (5.5) (0.9) N/A N/A
2016A 0.0 (6.5) (4.7) 0.1 362.5 N/A
2017E 0.0 (7.2) (5.7) (0.4) N/A N/A
2018E 0.0 (7.2) (17.7) (1.1) N/A N/A

Last updated on 22/05/2017

Investment summary

Hurricane Energy’s 2016/17 drilling programme has significantly increased understanding of the Greater Lancaster Area (GLA) and Greater Warwick Area (GWA) hydrocarbon accumulations. Initial data analysis suggests that the GLA is one large accumulation including the Halifax and Lancaster basement oil discoveries contained between the Westray Fault Zone and Brynhild Fault Zone. RPS reserve and resource estimates for Lancaster stand at P50 523mmbbl, making it a giant oil field and one of the largest discoveries on the UKCS over the last decade. Management expects first oil from a Lancaster early production system in 2019, with the company looking at equity and debt funding options. We assume a 60/40 equity to debt split in our latest Lancaster NAV of 102p/share.

Last updated on 01/06/2017

Industry outlook

Fractured basement is seen as an 'unconventional' play in the UK, although basement reservoirs have been producing for decades. Hurricane has successfully de-risked Lancaster through a multi-well appraisal programme.

Last updated on 01/06/2017

Key management

Dr Robert Trice, CEO
Alistair Stobie, CFO

Company address

The Wharf Abbey Mill Business Park
Lower Eashing
Godalming
Surrey
GU7 2QN
United Kingdom
+44 1483 862 820
View website