Hurricane Energy (HUR)

Business description

Hurricane Energy is an E&P focused on UKCS fractured basement exploration. It owns 100% of the 200mmbbl (last published CPR) Lancaster oil discovery.

Stock data

Market cap.£700.7m
Last close58.25p
High / Low (52 weeks)59.0p / 13.0p
Stock market listingLN
Forecast net cash (£m)39.3
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual7.423.9324.4
Relative *7.220.4265.4

* % Relative to local index

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Company news

Is this oil stock a better buy than Hurricane Energy plc?

Wed, 19 Apr 2017 15:33:45 GMT

Hurricane Energy is strategically important to the longevity of North Sea ...

Thu, 13 Apr 2017 07:18:45 GMT

Why this growth stock is set to beat Hurricane Energy plc in 2017

Thu, 20 Apr 2017 13:52:30 GMT

Hurricane Energy completes Halifax well operations, initial data analysis

Mon, 27 Mar 2017 10:41:15 GMT

Hurricane Energy says estimates of the Lancaster field are too conservative ...

Tue, 07 Feb 2017 15:05:42 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2014A 0.0 (8.5) (9.0) (1.4) N/A N/A
2015A 0.0 (5.4) (5.5) (0.9) N/A N/A
2016E 0.0 (4.6) (4.5) (0.4) N/A N/A
2017E 0.0 (4.6) (4.5) (0.4) N/A N/A

Last updated on 27/03/2017

Investment summary

In September 2016, the 205/21a-7 pilot well helped confirm a continuous oil column below Lancaster basement structural closure. Hurricane looked to extend this play along the Rona Ridge through the exploration of Lincoln and Halifax (now completed) with analysis ongoing – both encountered hydrocarbons. Management sees the results as highly significant – the Halifax well proves extension from the original Lancaster discovery and indicates >1km oil column. Management estimates combined gross unrisked prospective resource of up to 1bnbbl, offering potential for a significant increase to the 300mmbl we currently assume for Lancaster. In our updated valuation, we incorporate success at Lincoln and our RENAV recently increased from 75p/share to 101p/share (+35%).

Last updated on 04/04/2017

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 04/04/2017

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