Zephyr Energy says seven wells at Williston Basin now in production
"We expect significant cash flow generation from the non-operated portion of our portfolio over the coming months"
Company
LON:ZPHR
Zephyr Energy PLC is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States. The company has a balanced portfolio of operated and non-operated assets, located in two established oil-producing basins in the Rocky Mountain region.
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"We expect significant cash flow generation from the non-operated portion of our portfolio over the coming months"
“It's an exciting time for the company, filled with short-term operational activity and long-term strategic potential,” said Colin Harrington
It is a pivotal period for the company’s efforts to unlock value in Utah, says chief executive Colin Harrington
"I am delighted that the pieces are coming together for our forthcoming drilling programme," said CEO Colin Harrington
It's been a good year so far for AIM stocks, with the FTSE AIM All-Share index up 7.9%
The work appears to have unlocked the potential of eight high-graded hydrocarbon reservoirs overlying the Cane Creek opportunity it was initially investigating. This could support 200 wells, giving a potential resource uplift of 125mln barr
Zephyr is an oil and gas company focused on responsible resource development and carbon-neutral operations in the Rocky Mountain region
It was an active week in the small-cap oil and gas sector.
"We are now well-positioned to finalise drilling preparations and third-party service contracts in advance of the proposed well spud next month," said Colin Harrington.
"We have a great deal of activity going on across our project portfolio and I'm delighted with how everything is progressing,” said chief executive Colin Harrington
"We believe dual trading on the OTC and AIM Markets represents another important step for the Zephyr corporate platform,” said Colin Harrington
Archive
Zephyr Energy (LON:ZPHR) Zephyr has announced that it intends to achieve carbon-neutrality across its operational footprint by 30 September 2021. This industry-leading pledge is a major first step towards near-term delivery of hydrocarbons
The company believes it will see expanded access to a wider group of potential institutional investors as a result of its new approach
Lateral drilling at Paradox is scheduled to start in July
“We look forward to substantially increased cashflows in the very near term," chief executive Colin Harrington said
The AIM-quoted firm has acquired assets described as described as 'low-risk’ with substantial near-term cash flow'
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After the recent raise I took the opportunity to catch up with Colin Harrington, CEO of Zephyr who told me just how exciting things are looking like at the company. With part of the money to finance the lateral well at Paradox that goes ahe
"Today's developments mark a truly ground-breaking moment for the company,” said Colin Harrington.
This lateral well on its own is estimated to offer ultimate recovery of 694,000 barrels of oil equivalent
“The board believes that the Paradox project has the potential to be a project of considerable scale versus Zephyr's current market capitalisation," Zephyr said.