Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors it is expecting confirmation of a key infrastructure boost, amidst reports that US major Dominion Energy has "finalised the completion of its gas supply pipeline" in the vicinity of the company’s acreage in Utah.
The pipeline is expected to be available to accept natural gas volumes from third-party sources, slightly ahead of original timeframe estimates, the company said in a stock market statement.
“Zephyr can confirm that it has been informally notified that the pipeline will be operational in the next thirty days and would be available to receive Zephyr volumes in due course when Zephyr's own infrastructure and wells have been completed and all necessary regulatory approvals and commercial agreements have been completed,” the company added.
It noted that it expects to be in a position to provide investors with a more detailed update on both the pipeline status and progress on its Paradox project when it reports its interim financial results later this month, on 29 September.
In London, Zephyr shares nudged 2.3% higher in early trading to change hands at 3.33p each.