Hurricane Energy (LON: HUR) shares are falling on Thursday following the release of an operational update on its Lancaster field operations.
During May this year, the London-listed firm produced 353 Mbbls of oil from the P6 well.
As of June 7th, Lancaster was producing 11,020 bopd from the P6 well alone with an associated water cut of 31%. The average oil rate for May was 11,370 bopd, with an average water cut of 30%.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
However, on June 8th, the electric submersible pump (ESP) in the P6 well tripped, causing the well to be shut in.
Hurricane said the well is currently on natural flow while the cause of the trip is investigated, and the electrical system is tested ahead of an attempt to restart the ESP.
Hurricane Energy’s share price is down 5% at 1.14p following the update. It has lost 54.4% for the year-to-date, while it has fallen 63.81% in the past three months.
Should you invest in Hurricane Energy shares?
Hurricane Energy shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Hurricane Energy shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
