Zephyr Energy (GB:ZPHR) has released an update.
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Zephyr Energy PLC reports a 9% increase in first quarter 2024 production, averaging 1,151 barrels of oil equivalent per day, despite temporary shut-ins due to weather and infrastructure issues. The company successfully placed ten new wells into production in February, outperforming expectations with added rates of approximately 75 barrels of oil equivalent per day. Additionally, Zephyr has strategically hedged its oil production, securing prices up to US$82.20 per barrel, to stabilize revenue amidst market fluctuations.
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