Hurricane Energy generates first revenue from Lancaster EPS

18th Jun 2019 10:04

(Sharecast News) - UK-based oil and gas company Hurricane Energy updated the market on its operations on Tuesday, in relation to the early production system development of the Lancaster field.The AIM-traded firm said that on 18 June, it sold its first cargo which was lifted from the Aoka Mizu floating production storage and offloading (FPSO) unit by the Amundsen Spirit shuttle tanker.It said the cargo was marketed by BP Oil International, under their offtake agreement."First lifting from the Lancaster early production system marks the generation of Hurricane's first revenue," said chief executive officer Dr Robert Trice."We are now building the cash flow necessary to invest in the further appraisal and development of Hurricane's basement assets."