{"id":137748,"title":"Zephyr Energy acquires 27,000 acres to expand Utah operations","publisher":"Share Talk","author":"sharetalk","published":"2026-06-26T06:47:23+00:00","modified":"2026-06-26T06:51:04+00:00","canonical_url":"https://www.share-talk.com/zephyr-energy-acquires-27000-acres-to-expand-utah-operations/","markdown_url":"https://www.share-talk.com/zephyr-energy-acquires-27000-acres-to-expand-utah-operations.md","json_url":"https://www.share-talk.com/zephyr-energy-acquires-27000-acres-to-expand-utah-operations.json","category":"Energy","categories":["Energy"],"tags":["Cane Creek","Colin Harrington","drilling","North Dakota","oil","OTCQB","Paradox basin","Rick Grant","Rig #34","RL Grant","Rocky Mountain","Share Talk","Spud","U.S","U.S. Department of Energy","USA","Utah","Venture Market","Williston Basin","Wyoming","Zephyr Energy","ZPHR"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/Zephyr-Energy-1-750x406-1-1.webp?fit=750%2C406&ssl=1","format":"news","language":"en-GB","content":"[Zephyr Energy (AIM:ZPHR, OTCQB:ZPHRF, FRA:VD5N),](https://www.investegate.co.uk/announcement/rns/zephyr-energy--zphr/acquisition-of-additional-acreage-divestment/9637892)has significantly expanded its position in Utah’s Paradox Basin after acquiring a further 27,000 acres, almost doubling the land surrounding its flagship White Sands project.\n\nThe acquisition increases Zephyr’s operated acreage in the basin to approximately 70,000 gross acres, with most of the enlarged position held at a 100% working interest.\n\nThe newly acquired acreage lies immediately south and west of the White Sands Unit and provides additional exposure to the highly prospective Cane Creek reservoir and the wider Paradox Formation. Management believes the largely contiguous land package shares similar geological characteristics to its existing acreage, strengthening the project’s long-term development potential.\n\n![](https://www.share-talk.com/wp-content/uploads/2026/06/e0e25426-1691-4ada-a221-888ebfead310-287x300.png)\n\nThe expansion comes as Zephyr continues efforts to secure a farm-out partner to help fund and accelerate development of the Paradox project. The enlarged land position is expected to enhance the project’s commercial appeal by increasing its scale and resource potential.\n\nIn addition to conventional oil and gas, the company said the new acreage also offers prospective helium potential beneath the Paradox Formation, adding another possible source of future value.\n\nAround 24,000 acres were secured through a competitive US Bureau of Land Management lease sale, with the remaining acreage acquired directly from the Utah Trust Lands Administration. The transaction was funded entirely from existing cash resources.\n\nSeparately, Zephyr has completed the sale of two non-core undeveloped acreage positions in Wyoming’s Powder River Basin, generating net proceeds of approximately $2.2 million. The disposals form part of the company’s strategy to recycle capital into its core Paradox Basin operations while it continues to evaluate options for its remaining Wyoming assets.\n\nChief executive Colin Harrington said the enlarged acreage package significantly improves the commercial value of the Paradox project at an important stage in its development and provides further opportunities to unlock shareholder value."}