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

Relative *(24)(39.9)86.7

* % Relative to local index

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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
United Kingdom
+44 1483 862 820
View website