World Oil
(WO) – Zephyr Energy plc provided updates on its non-operated asset portfolio in the Williston basin, North Dakota, U.S. In December 2022, the company announced that it had acquired a working-interest in six recently spudded wells operated by Slawson Exploration Company. The working interests acquired range from 11% to 32%.
Zephyr’s management estimated the Wells to contain 2P reserves, net to Zephyr, of circa 550,000 Boe.
Following the recent completion of the associated production facilities, the company has been notified by Slawson that the wells are scheduled to be brought online Nov. 1, 2023.
The wells will provide a significant near-term production boost and are expected to generate substantial cashflows for the company, which can be reinvested into the development of its project in the Paradox basin, Utah, U.S., or into additional non-operated investment opportunities.
Zephyr Energy plc is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States.
Zephyr’s flagship asset is an operated lease holding of over 46,000 gross acres located in the Paradox basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 MMboe, 2C resources of 34 MMboe and 2U resources of 270 MMboe.
In addition to its operated assets, the company owns working interests in a broad portfolio of non-operated producing wells across the Williston basin in North Dakota and Montana. Cash flow from the Williston production will be used to fund the planned Paradox basin development.
