Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has inked a rig contract with CWC Ironhand Drilling (CWC) which will drill the company’s next well at the Paradox basin project in Utah.
The planned State 36-2 LNW-CC well will be the first of three wells designed to further delineate Zephyr's acreage position in the project, the company highlighted in a statement.
It will use CWC’s Ironhand Rig 118, which is expected to mobilise to site in the coming days, ahead of an anticipated spud-date later this month.
"Following the recent final permit award, Zephyr's operational team moved quickly to secure the rig contract with CWC,” said chief executive Colin Harrington.
“We are pleased with the operational momentum and look forward to getting the drilling campaign underway this month.
"We look forward to keeping investors informed as operations progress at the well site."