In an operational and financial update, Hurricane Energy has announced that it has successfully completed the plugging and final abandonment (P&A) of the Lancaster 205/21a-4z well.
The well is located in the Lancaster Field, West of Shetland in Scottish waters, which was discovered in 2009. The company is implementing a phased development of the field with the first phase of development, the Early Production System (EPS) coming on stream in June 2019.
During November 2021, the company plugged the 205/21a-4z well for a cost of c. US$1mn. Hurricane also disclosed that US$2.2mn of decommissioning security (previously classified as restricted cash) has now been released back to the company and has been used in part to fund the P&A activity.