Spirit Energy farms in to Greater Warwick Area Licenses

LONDON -- Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has announced that Spirit Energy Limited has farmed-in to 50% of Hurricane’s Lincoln (P.1368 South) and Warwick (P.2294) licenses, together covering the Greater Warwick Area (GWA).

The GWA farm-in opens up a significant new work program across Hurricane’s assets, widening strategic options and accelerating their potential monetisation by targeting reserve growth. Hurricane and Spirit Energy are committing to a work program, which envisages first oil on the GWA by 2020 and final investment decision (FID) on the first phase of a full field development by 2021. This is intended to unlock initial reserves of half a billion barrels (gross) from current GWA resources.

Spirit Energy is a strong, technically and commercially aligned partner, which will ultimately take on the role of GWA license operator, following successful drilling during 2019 and 2020.