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Pin to quick picksZephyr Energy Share News (ZPHR)

Share Price Information for Zephyr Energy (ZPHR)

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Share Price: 4.35
Bid: 4.20
Ask: 4.50
Change: -0.45 (-9.38%)
Spread: 0.30 (7.143%)
Open: 4.75
High: 4.70
Low: 4.35
Prev. Close: 4.80
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IN BRIEF: Zephyr Energy Confident In Its Prospects For New Year

Mon, 04th Jan 2021 22:00

Zephyr Energy PLC - oil & gas company based in the Rocky Mountain region of the US - Says drilling crews at the State 16-2 well site at Paradox Basin, Utah, have been operating since the December spud and progress so far is fully in line with the company's expectations. Company has received the third USD600,000 tranche of the USD2 million grant funds allocated by the US Department of Energy and its National Energy Technology Laboratory for the drilling of the well. The final balance of USD200,000 will be received following the completion of drilling operations. Says management continues to assess acquisition opportunities with the potential to deliver near-term cash flow at attractive valuations.

"The goal for Zephyr over the next twelve months is straightforward - we want to transform the company into a well-capitalised producer of oil and natural gas, with strong positive cash flow and significant growth potential in its asset portfolio, and one which has developed its assets in an environmentally responsible way. The first step on that journey begins with the safe and successful completion the State 16-2 well," says Chief Executive Colin Harrington.

Current stock price: 0.900 pence

Year-to-date change: down 4.5%

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Zephyr Energy signs rig contract for Paradox Basin redrilling

(Sharecast News) - Zephyr Energy announced on Friday that it had finalised a rig contract with Helmerich & Payne (H&P) for Rig 257, for the redrilling of the State 36-2R well in Utah's Paradox Basin.

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Zephyr Energy inks rig contract to progress Utah-based well

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IN BRIEF: Zephyr continues planning for redrill of State 36-2 well

Zephyr Energy PLC - Oil and gas company focused on resource development from carbon-neutral operations in the Rocky Mountains region in North America - Says it continues to progress planning for the forthcoming redrill of the State 36-2 well in its Paradox Basin project in Utah, US. Zephyr retains full well control insurance and expects to recover a substantial majority of the costs associated with the redrill. At the well pad, all surface hole location preparations have been completed to enable rig mobilisation, it says. It also plans to mobilise a spudder rig to the well pad over the next two weeks to drill and set conductor pipe and once these operations are complete, Zephyr says the location will be ready to accept a drilling rig in early April. Adds that is is in the final stages of executing a rig contract with the intention to begin full drilling operations in mid-April 2024. Says it has also received vendor bids for substantially all remaining well services, and has sourced all casing and long lead items required for the well.

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Zephyr Energy gets Utah well drilling permit amendments approvals

(Alliance News) - Zephyr Energy PLC on Wednesday said it received approvals for the amendment of its drilling permit for the forthcoming "twinned" redrill of the State 36-2 well in Paradox Basin, Utah, US.

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IN BRIEF: Zephyr says planning for State 36-2 well redrill continues

Zephyr Energy PLC - oil and gas company focused on resource development from carbon-neutral operations in the Rocky Mountain region of the US - Says it continues to progress planning for the "twinned" and fully-funded redrill of the State 36-2 well. Retains full well control insurance and expects to recover substantially all costs associated with the redrill. Chief Executive Officer Colin Harrington says: "Our team continues its intensive and robust planning process for the State 36-2R well and once the sundry amendment to the drilling programme is approved, we will seek to expedite operations at site to commence drilling operations as soon as possible.The team has done excellent work in progressing major contracts and infrastructure solutions, and we look forward to providing continued news flow over the coming weeks and months."

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Zephyr Energy reports progress on Slawson wells, Paradox

(Sharecast News) - Zephyr Energy said in an update on Friday that the initial flow rates from the six wells operated by Slawson Exploration Company, in which it holds working interests, exceeded expectations.

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(Alliance News) - Zephyr Energy PLC on Friday said initial production from the Slawson-operated wells has exceeded expectations, boosting its quarterly sales.

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IN BRIEF: Zephyr to redrill at State 36-2 well following incident

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