Zephyr Energy presents a full portfolio update, with US agency approving White Sands unit

Zephyr Energy PLC’s (LON:ZPHR) Colin Harrington talks to Proactive London about the US Bureau of Land Management approving the formation of a new 25,000-acre Federal Unit in its flagship Paradox Basin project in Utah.

The unit, to be named the White Sands Federal Unit (WSU), spans all of the company’s existing leases covered by its historic 3D seismic survey. It includes the lease which hosts the State 16-2LN-CC well.

He expects to drill a second well in 2022 along with a development in recently acquired lease in the historically prolific Cane Creek Field, whilst a further well slated for ‘2022/23’ is expected to be an exploration and appraisal in the shallow Paradox formation.