Zephyr Energy (GB:ZPHR) has released an update.
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Zephyr Energy reports a successful second phase production test at its Paradox Basin project in Utah, with peak rates over 2,100 boepd, marking a significant achievement with the first known use of acidisation stimulation in the region. This approach has not only enhanced reservoir productivity but also suggests a cost-effective alternative to hydraulic stimulation, potentially improving the project’s economics by reducing water production and completion costs. The company is now exploring partnership opportunities to further develop the project and maximize shareholder value.
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