28th Jun 2021 14:27
Zephyr Energy PLC - Newbury, England-based technology-led exploration & production company - Signs drilling contract with Cyclone Drilling Inc for project in the Paradox Basin in the US state of Utah, where Zephyr is preparing to spud the State 16-2LN-CC appraisal well.
"This follows a competitive selection process involving extensive technical and commercial evaluation of multiple potential drilling contractors. Zephyr is delighted to be working with Cyclone again, following their efficient completion of the State 16-2 stratigraphic test well for Zephyr and its project partners earlier this year," company adds.
The Cyclone Rig 34 will again be the unit used for the drilling programme - the same rig that successfully and safely drilled the State 16-2 well to a total depth of 9,745 feet.
Current stock price: 7.42 pence, up 18% on Monday
Year-to-date change: up sharply from 0.88p on December 31
By Paul McGowan; [email protected]
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