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PKF Littejohn replaces Deloitte as Shetland firm's auditor heraldscotland.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from heraldscotland.com Daily Mail and Mail on Sunday newspapers.
Investegate |Hurricane Energy PLC Announcements | Hurricane Energy PLC: Operational and Financial Update investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
The production facility used on Hurricane Energy s Lancaster field West of Shetland WEST of Shetland-focused Hurricane Energy increased its cash balances by $7 million (£5m) in the latest quarter during which a court blocked a controversial restructuring that would have left creditors in control of the firm. Hurricane said it had net free cash of $134m at June 30, up from $127m at March 31. The increase reflected the benefit of $69m revenues earned on production from the flagship Lancaster oil field. The news follows a turbulent period for Hurricane, which made finds during a pioneering exploration drive West of Shetland. The firm saw its valuation soar to £1.2bn after starting production from Lancaster in 2019. ....
The production vessel used on the Lancaster field West of Shetland Picture: Hurricane Energy EMBATTLED Shetland oil pioneer Hurricane Energy has parted company with its chairman and four directors after facing a boardroom coup attempt led by a dissident investor. The company said yesterday that Steve McTiernan had resigned as chairman along with all four non-executive directors with immediate effect. The resignations came after Hurricane proposed to complete a restructuring that would leave bondholders in control of the firm, and which has been denounced by shareholders. Crystal Amber Fund called an extraordinary general meeting at which it wanted shareholders to vote Mr McTiernan and the four non-executives off the board and two replacements appointed. ....