11th Apr 2023 09:04
(Alliance News) - Zephyr Energy PLC on Tuesday announced that the State 36-2 LNW-CC well in the Paradox Basin in Utah on Friday released hydrocarbons in an uncontrolled manner, following a presumed failure in a safety valve.
Zephyr is an oil & gas exploration and development company in the Rocky Mountains in the US.
The company said control efforts have been successful, with all relevant authorities notified and efforts underway to remove impacted soil and clean the service rig and equipment. It added it plans to conduct a confirmatory environmental survey in the near term.
Zephyr Energy shares fell 11% to 4.55 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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