
Zephyr Energy, the Rocky Mountain oil and gas company, confirms that, further to its announcement on 23 December 2024, the Nabors Drilling USA B29 rig is now being mobilised to site where it will drill an extended lateral on the State 36-2 LNW-CC-R well.
The rigging up process is expected to be completed shortly, with drilling operations expected to commence in mid-January 2025. In order to expedite drilling operations, preparatory work on the well, which included the removal of production tubing from the existing wellbore, has already been completed utilising a cost-effective workover rig.
The extended lateral will be drilled horizontally from near the base of the existing wellbore and is expected to target an additional 5,500 feet of the Cane Creek reservoir. Drilling, once the well has spudded, is expected to take circa 30 days.
Colin Harrington, Zephyr's Chief Executive, said:
'We remain on target to start drilling the extended lateral in mid-January 2025, following which we will complete and production test the extended reservoir interval. The well has the potential to be a major catalyst in the development of the Paradox project and we look forward to providing further updates on progress in due course.'
Paradox Basin
Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah which has been assessed by third party consultants Sproule International to hold, net to Zephyr, 2P reserves of 2.6 mmboe, 2C resources of 34 mmboe and 2U resources 270 mmboe.
The Paradox is a proven, productive basin characterised by a longstanding exploration and production history.
Zephyr's acreage position is well situated to existing gas export infrastructure, with pre-existing road and pad networks to aid development and future production.
Source: Zephyr Energy