Analysts are puzzled as to the attraction of Hurricane in the current UKCS M&A environment
The curious case of the Hurricane bid
UKCS producer’s pared-back portfolio appears to tick few boxes
The board of Hurricane Energy, the North Sea upstream firm that aimed to exploit the potential of fractured basement reservoirs, has rejected a 7.7p/share bid for its entire issued share capital but has launched a formal sales process to try to attract a hungrier suitor. Analysts, though, are puzzled as to the attraction of Hurricane in the current UK continental shelf (UKCS) M&A environment. Hurricane argues it is in “a very strong financial and operational position” and that the offer, at a premium of only 13pc above its 6.8p/share 1 November closing price, undervalues the firm. It is debt free, its decommissioning liabilities are fully funded and forecast year-end net free cash is c.$
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
