RE: Zeph30 Apr 2025 12:46
I don't believe there is any oil in that well, NGL and gas...
If you read the updates they don't seem to mention oil directly or give the actual amount of gas, but specify NGL...
Too much gas lowers returns, but the NGL is priced similar to WTI oil..
The other thing, the well saying it could produce 2mmboe, well thats close the the recoverable reserves quoted for the whole basin, so is that it, job done or will there be a resource upgrade .....you would think the later there will be a resource upgrade, could see another price sensitive update on upgrade, maybe speculative buying ahead... So fingers crossed on good results
"Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 million barrels of oil equivalent ("mmboe"), 2C resources of 34 mmboe and 2U resources 270 mmboe."