|Delayed - 01/15 11:42:41 am|
Zephyr Energy Shares Up 4% After Successful Drilling Works At Paradox Basin
|01/14/2021 | 09:48am|
The group said the State 16-2 stratigraphic test well was drilled to 9,745 feet 19 days after spud, a marked improvement over historical drilling efforts in the area.
The fast drilling process represents a "major operational success," with Zephyr estimating this could turn into a reduction in earlier cost forecasts.
Finished primary works at the State 16-2 well, Zephyr said horizontal lateral drilling works are underway. If successful, the State 16-2 lateral would deliver first commercial production from the Paradox project.