Zephyr Energy (GB:ZPHR) has released an update.
Zephyr Energy has announced the initiation of well clean-up operations at its State 36-2R well, anticipating a production test to follow shortly. Financially, the company has successfully reconfirmed its $15.15 million revolving credit facility, secured a new term loan, and fully repaid its bridge loan, leading to a lowered blended interest rate and reduced annual interest costs. Additionally, Zephyr has negotiated an extension for the drilling deadline at the Salt Wash Field to September 1, 2024, while exploring funding options for this project.
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