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.£587.8m
Last close30.00p
High / Low (52 weeks)67.0p / 27.0p
Stock market listingLN
Forecast net cash (£m)235.2
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual8.110(22.45)
Relative *4.63(1.44)(28.31)

* % Relative to local index

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Company news

Hurricane Energy launches $520m fundraising to develop Lancaster field

Thu, 29 Jun 2017 16:36:32 GMT

Hurricane Energy stock may be due an upgrade - broker

Thu, 21 Sep 2017 09:40:51 GMT

Hurricane Energy gets regulatory green light for Lancaster field development

Mon, 25 Sep 2017 08:04:04 GMT

Hurricane Energy updates on Lancaster progress as FPSO arrives at dry-dock

Mon, 02 Oct 2017 06:30:49 GMT

A small-cap growth stock I'd buy ahead of Hurricane Energy plc

Sun, 15 Oct 2017 08:03:45 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) 0.1 300.0 N/A
2017E 0.0 (7.2) (5.7) (0.4) N/A N/A
2018E 0.0 (7.2) (18.1) (0.9) N/A N/A

Last updated on 15/09/2017

Investment summary

Hurricane is fully funded and on schedule to reach first oil from the Lancaster EPS in H119. On 14 September 2017, the company announced that it had made the final investment decision (FID) and that key contracts had been executed. These include a rig contract with Transocean, SURF and SPS contracts with TechnipFMC and FPSO upgrade/lease/operation contracts with Bluewater. Field Development Plan (FDP) approval from the regulatory authorities is expected shortly. Edison's RENAV stands at 81p/share as per our note published on 4 July 2017.

Last updated on 03/10/2017

Industry outlook

Hurricane has successfully de-risked Lancaster through a multi-well appraisal programme and is progressing towards first oil at Lancaster, scheduled for H119. EPS production data should provide further validation of the company's field-wide resource estimates.

Last updated on 03/10/2017

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