Zephyr - A Growth Stock20 Jun 2025 11:49
Zephyr has plenty of options available right now...spoilt for choice. The article below was published less than a month ago on 29 May:
Zephyr Energy sees Cane Creek as “potentially one of the most productive” plays in the United States
Zephyr Energy sees Cane Creek as “potentially one of the most productive” plays in the United States
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has reported its detailed post-well evaluation results from the State 36-2R well at its Paradox project in Utah.
The company said estimated ultimate gas recovery from the well (over its lifespan) is in the range of 4 billion to 6 billion cubic feet, plus 160,000 to 240,000 barrels of condensate.
It equates to 830,000 to 1.24 million barrels of oil equivalent.
Zephyr added that deploying extended laterals could potentially increase recovery per well up to 37.5 billion cubic feet.
The firm, meanwhile, outlines a conceptual development of up to 20 wells that may yield up to 501 billion cubic feet of gas and 29 million barrels of condensate.
“The scale of the project has the potential to grow considerably, and we look forward to sharing further information with both the market and potential partners as work continues,” chief executive Colin Harrington said.
Harrington also highlighted the high quality of the data available for the evaluation and noted that the study was focused solely on the Cane Creek reservoir.
It said Cane Creek was ‘ranked potentially alongside some of the most productive oil and gas plays in the US' and noted there are also eight other overlying reservoir zones at Paradox.
The Zephyr boss sees “further substantial potential” that’s yet to be tested at Paradox.
“The scale of the project has the potential to grow considerably, and we look forward to sharing further information with both the market and potential partners as work continues,” Harrington said.
He also told investors that the company’s decision to perform a novel perforation and acidisation completion was “very much vindicated”.
“The potential for further optimisation of the project is exciting,” he added.
"There is much still to do, and our team is hard at to work to deliver on our next key objective of delivering first gas.”
Williston production & Hawk opportunities
Zephyr also released Q1 production figures from the Williston project, with average output of 756 boepd, down from 829 boepd in Q4 due to operator downtime.
The portfolio now includes 228 wells, with an average working interest of 7%.
The Zephyr Hawk business unit, formed earlier this month with a $100 million investment deal with new investors, is currently reviewing $30 million worth of drilling opportunities.
The strategic partnership with a US-based investor sees the new backer fund 100% of well costs, whilst Zephyr will retain a 30% stake in the projects.
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