Zephyr Energy PLC State 16-2LN-CC operations update (1089Q)
25 Octubre 2021 - 01:00AM
UK Regulatory
TIDMZPHR
RNS Number : 1089Q
Zephyr Energy PLC
25 October 2021
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
25 October 2021
Zephyr Energy plc
("Zephyr" or the "Company")
State 16-2LN-CC operations update
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain
oil and gas company focused on responsible resource development
from carbon-neutral operations, provides an update on activity at
its flagship project in the Paradox Basin, Utah (the "Paradox
project") where it recently drilled the State 16-2LN-CC well.
Further to its announcement on 15 October 2021, Zephyr is
pleased to announce that the State 16-2LN-CC well has now been
successfully and safely completed via hydraulic stimulation in the
Cane Creek reservoir. The well was stimulated in fourteen separate
stages across 4,020 feet of horizontal lateral wellbore. The
stimulation utilised a total of 40,000 barrels of water, 2.4
million pounds of sand and a cross linked gel fluid, all in line
with pre-completion forecasts.
Production testing operations will commence later today. As an
initial step, cement plugs placed between stages will be drilled
out, allowing for well clean up and the flow back of stimulation
fluids. The Company will provide information on initial production
test results after the well cleans up and when an adequate amount
of data has been obtained, details of which the Company expects
over the next few weeks.
Colin Harrington, Zephyr's Chief Executive said: " I'm delighted
by how smoothly the well completion operation progressed, and I'd
like to congratulate our technical team and contractors on their
excellent work in effectively managing both the operational
challenge and the significant logistics involved. As this was the
first modern horizontal stimulation carried out in this part of the
Paradox Basin, a huge amount of preparation went into planning this
completion, so I'm equally happy to report that the operations
unfolded directly in line with our expectations."
"We are now able to commence the production test. I very much
look forward to keeping the market updated as soon as the well
cleans up and production volumes become apparent - information
which we expect to obtain over the next few weeks."
Contacts:
Zephyr Energy plc Tel: +44 (0)20 7225 4590
Colin Harrington (CEO)
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328 5656
Adviser
Jeremy Porter / Liz Kirchner
Turner Pope Investments - Broker Tel: +44 (0)20 3657 0050
James Pope / Andy Thacker
Flagstaff Strategic and Investor Communications
- PR Tel: +44 (0) 20 7129
Tim Thompson / Mark Edwards / Fergus 1474
Mellon
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