14th Feb 2023 14:21
Zephyr Energy PLC - London-based oil and gas exploration and production company - Says production casing operation is successful on the 36-2 LNW-CC well, located at Zephyr's project in the Paradox Basin, which is in Utah, US. The well has now been made fully safe, the company says. Plans to start production testing and potential completion of the fractured Cane Creek reservoir interval in the coming weeks, subject to service availability. Adds that production at the State 16-2 LN-CC remains ongoing as well.
Chief Executive Colin Harrington says: "The State 36-2 LNW-CC well was a challenging and lengthy operation, more difficult than expected but not atypical when drilling in an immature, remote and highly over-pressured basin. Despite the challenges, we have managed to move the bar again and delivered what would appear to be another productive well on our acreage."
The company started drilling operations in November on the state 36-2 LNW-CC well. The prime target of the operation was the Cane Creek reservoir.
Current stock price: 6.16 pence each, down 2.2% on Tuesday afternoon in London
12-month change: up 21%
By Xindi Wei, Alliance News reporter
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