Zephyr Energy Plc (GB:ZPHR) has released an update.
Zephyr Energy Plc has commenced drilling operations on a new well at their Paradox Basin project in Utah, aiming to replicate the success of a previous well that encountered a productive hydrocarbon system. The company anticipates the drilling to take about 30 days, followed by testing to evaluate reservoir productivity. Significantly, Zephyr expects to recover the drilling costs through well control insurance, underscoring their financial strategy for the project.
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