Zephyr Energy PLC - London-based oil and gas investment company - Says it sold 43,185 barrels of oil equivalent during the fourth quarter of 2021. Fourth quarter production at the Williston Basin in North Dakota, US, averages 548 barrels of oil equivalent per day net to Zephyr. Three wells on the Sundance Kid pad add net 106 barrels of oil equivalent per day on an operated basis. As a result, Zephyr says its existing non-operated portfolio has produced at a total run rate of 654 barrels of oil equivalent per day in the fourth quarter.
It adds: "Production from the company's non-operated portfolio is expected to further increase over the coming months as additional wells from the existing portfolio are brought online and when the company's proposed USD36 million acquisition of further non-operated assets in the Williston Basin is completed as expected in mid-February."
Current stock price: 5.14 pence, down 1.2% in London on Monday
12-month change: up sharply from 2.17p
By Heather Rydings; heatherrydings@alliancenews.com
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Zephyr Energy (ZPHR)