Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, is pleased to confirm that, further to its announcement on 23 December 2024, the Nabors Drilling USA B29 rig (the “rig”) is now being mobilised to site where it will drill an extended lateral on the State 36-2 LNW-CC-R well (the “well”).
The rigging up process is expected to be completed shortly, with drilling operations expected to commence in mid-January 2025. In order to expedite drilling operations, preparatory work on the well, which included the removal of production tubing from the existing wellbore, has already been completed utilising a cost-effective workover rig.
The extended lateral will be drilled horizontally from near the base of the existing wellbore and is expected to target an additional 5,500 feet of the Cane Creek reservoir. Drilling, once the well has spudded, is expected to take circa 30 days.
Colin Harrington, Zephyr’s Chief Executive, said:
“We remain on target to start drilling the extended lateral in mid-January 2025, following which we will complete and production test the extended reservoir interval. The well has the potential to be a major catalyst in the development of the Paradox project and we look forward to providing further updates on progress in due course.”
Contacts:
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Zephyr Energy plc Colin Harrington (CEO) Chris Eadie (Group Finance Director and Company Secretary)
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Tel: +44 (0)20 7225 4590 |
