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Zephyr Energy ( (GB:ZPHR) ) has issued an announcement.
Zephyr Energy has commenced the mobilization of the Nabors Drilling USA B29 rig to the State 36-2 LNW-CC-R well site, intending to drill an extended lateral targeting an additional 5,500 feet of the Cane Creek reservoir. This development is a key step in the Paradox project, with drilling operations expected to start mid-January 2025 and potentially serving as a significant catalyst for the company’s growth. The project aims to enhance Zephyr’s position in the industry and promises future updates on its progress.
More about Zephyr Energy
Zephyr Energy plc is a technology-led oil and gas company focusing on responsible resource development and carbon-neutral operations in the Rocky Mountain region of the United States. The company’s flagship asset is a 46,000-acre leaseholding in the Paradox Basin, Utah, with significant reserves and resources. Zephyr also holds interests in non-operated wells in the Williston Basin, using cash flow from these assets to fund Paradox Basin development and potential acquisitions.
YTD Price Performance: 9.68%
Average Trading Volume: 3,004,943
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £59.52M
Learn more about ZPHR stock on TipRanks’ Stock Analysis page.
