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(Alliance News) - Zephyr Energy PLC on Friday said that it has signed a rig contract with Helmerich & Payne Inc, in order to progress the redrilling of its State 36-2 well in the Paradox Basin, Utah.
Zephyr Energy is an oil and gas company focused on resource development from carbon-neutral operations in the Rocky Mountains region in North America.
The contract is for Rig 257, which will be used to redrill the State 36-2 well. It should mobilise to the well "in the near-term", with an expected spud in mid-April.
In the meantime, Zephyr energy plans to mobilise a spudder rig to site in order to set the conductor casing ahead of the larger drilling operation.
"We are pleased with the swift progress made by Zephyr's operational team in securing the rig contract with H&P following the recent final permit award, and believe that Rig 257 is particularly well suited for the State 36-2R drill. The focus is now on drilling the well safely and efficiently, with full drilling operations expected to start in mid-April," said Chief Executive Colin Harrington.
Zephyr Energy shares were trading 3.8% higher at 2.75 pence each in London on Friday afternoon.
By Holly Beveridge, Alliance News reporter
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