Business
State 16-2 well commencement of drilling
State 16-2 well commencement of drilling.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0880J\n Zephyr Energy PLC\n 18 December 2020\n \n \n \n \n Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n \n \n \n \n 18 December 2020\n Zephyr Energy plc\n (the \"Company\" or \"Zephyr\")\n \n State 16-2 well commencement of drilling\n \n \n Zephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development, provides an update on its project in the Paradox Basin, Utah, U.S. (the \"Paradox\")\n . \n \n \n \n \n \n The Board of Zephyr is delighted to announce that it plans to spud the State 16-2 well today, well ahead of the Company's year-end target date for the commencement of drilling. Over the last week, the Cyclone rig mobilised to the well site where it was subsequently assembled and tested. In addition, all ancillary services and service providers are now on site to support drilling operations.\n \n \n \n \n \n The primary objectives of the well are to drill a mildly deviated well (8 degree maximum inclination) to an approximate true vertical depth (\"TVD\") of 9,815 feet, so that the Company can acquire up to 100 feet of continuous core from the Cane Creek reservoir. The Company also plans to run a comprehensive well log suite across the entire Paradox Formation, which includes the primary Cane Creek reservoir target and at least five other potential reservoir zones, in order to gain additional insight into the potential of those secondary targets. \n \n \n \n \n Drilling operations are expected to take 30-40 days from this point forward, and the results from the analysis of the core and logs are expected within three months from the completion of drilling. \n \n \n \n \n \n Once the drilling of the well is completed and the cores and logs acquired, the well will be temporarily plugged back at 6,450 feet TVD. Zephyr (or a farm-in partner) will then have the opportunity to re-utilise the vertical wellbore as a sidetrack host from which a horizontal appraisal well can be drilled. By re-utilising the vertical portion ...