Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has announced the signing of a rig contract with Helmerich & Payne for its State 36-2R well in the Paradox basin, in Utah.
It contracts the deployment of Rig 257, designed to manage the high reservoir pressures during drilling, and is expected to mobilise soon – in time to begin drilling operations in mid-April.
First, Zephyr is expected to mobilise a spudder rig to the site to start the well.
"We are pleased with the swift progress made by Zephyr's operational team in securing the rig contract with H&P following the recent final permit award, and believe that Rig 257 is particularly well suited for the State 36-2R drill,” chief executive Colin Harrington said.
“The focus is now on drilling the well safely and efficiently, with full drilling operations expected to start in mid-April."
"We look forward to keeping our investors well-informed as operations develop at the well site."