Zephyr Energy (LSE:ZPHR) has reported notable advancements in its Paradox Basin project located in Utah, following a successful production test and a £10.5 million equity raise. The company is progressing with key gas infrastructure development, including outfitting production sites and preparing for pipeline connections, which could lead to significant monthly revenue streams.
In addition, Zephyr is poised to finalize a US$7.3 million acquisition of working interests across more than 400 wells within the Rocky Mountain basins. This transaction will strengthen Zephyr’s strategic position, adding approximately 600,000 barrels of oil equivalent in proven and probable (2P) reserves and boosting production by around 400 barrels of oil equivalent per day. The expanded asset base offers promising opportunities for enhanced production and future drilling activity.
While Zephyr Energy continues to face challenges related to profitability and valuation, its recent corporate developments and strategic alliances suggest potential for growth ahead.
About Zephyr Energy
Zephyr Energy plc is a technology-driven oil and gas company dedicated to responsible resource development in the Rocky Mountain region of the United States. With operations spanning over 46,000 gross acres in Utah’s Paradox Basin and interests in producing wells in the Williston Basin, the company prioritizes both environmental stewardship and strong returns for its investors.
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