Zephyr Energy PLC State 16-2LN-CC rig mobilisation (0877E)
July 05 2021 - 2:00AM
UK Regulatory
TIDMZPHR
RNS Number : 0877E
Zephyr Energy PLC
05 July 2021
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
5 July 2021
Zephyr Energy plc
(the "Company" or "Zephyr")
State 16-2LN-CC rig mobilisation
Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas
company focused on responsible resource development and
carbon-neutral operations , provides an update on its flagship
project in the Paradox Basin, Utah, U.S.A. (the "Paradox project"
or the "project").
On 28 June 2021, Zephyr announced the signing of a drilling
contract with Cyclone Drilling Inc. ("Cyclone") in order to secure
Cyclone Rig #34 for the purpose of drilling the State 16-2LN-CC
appraisal well. Last winter, the same rig successfully and safely
drilled Zephyr's State 16-2 vertical well to a total depth of 9,745
feet in less than 19 days, a record performance versus historical
drilling in the northern part of the Paradox Basin. Rig #34 is
fully capable of drilling to the planned depths and pressures that
are expected at the State 16-2LN-CC well.
Zephyr is pleased to announce that Cyclone plans to commence
mobilisation of Rig #34 to the State 16-2LN-CC well site today.
Once on site in the coming days, the equipment will be rigged up
over a period of a week in preparation for drilling, and Zephyr
remains on track to spud the well before the end of July. Drilling
is expected to take approximately 20 days following spud. Further
updates will be provided in due course.
Colin Harrington, Zephyr's Chief Executive, said "I am delighted
that the pieces are coming together for our forthcoming drilling
programme, enabling us to commence drilling in line with our
forecast timetable. With permitting and site preparation completed
and rig mobilisation now commencing, we are in full countdown mode
ahead of this highly anticipated drilling effort.
"Our key objectives are to drill a safe, responsible and
successful well, and I'd like to thank our technical team and
contractors for their meticulous preparation in helping us deliver
on these objectives."
For further information please visit https://www.zephyrplc.com/
or contact:
Zephyr Energy plc Tel: +44 (0)20 7225
Colin Harrington (CEO) 4590
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328
Adviser 5656
Jeremy Porter / Liz Kirchner
Turner Pope Investments - Broker Tel: +44 (0)20 3657
James Pope / Andy Thacker 0050
Flagstaff Strategic and Investor Communications
Tim Thompson / Mark Edwards / Fergus Tel: +44 (0) 20 7129
Mellon 1474
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END
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