Hurricane Energy, a North Sea oil company that specialises in a particular type of “fractured basement” rock formation, has reached a significant milestone with the first oil produced from its Lancaster field, located west of the Shetland islands. The company said on Wednesday that it had completed a 72-hour production test of two wells at the field on June 4. During that time, both wells maintained a production rate of 20,000 barrels of oil per day, although the company will take a phased approach to the first six months of full production. The company plans to produce an average of 9,000 ...