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\nZephyr Energy plc (AIM: ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development, is pleased to provide an update on its non-operated working interests in the Williston Basin, North Dakota, U.S., to announce the acquisition of two additional non-operated near-term production portfolios in the Williston Basin (the \u201cnew acquisitions\u201d), and to announce a joint-venture (\u201cJV\u201d) with Purified Resource Partners LLC (\u201cPurified\u201d) related to ongoing non-operated business development efforts.
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\n\n\n\nColin Harrington, Chief Executive of Zephyr, said: \u201cWhile the safe and successful completion of the State 16-2 LN-CC well on our Paradox project remains the Company\u2019s top priority, I\u2019m delighted to report continued progress and significant growth on the non-operated side of our business.
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\n\n\n\u201cAs we outlined to Shareholders in January, Zephyr\u2019s key goal for 2021 was to establish production and positive cash flow \u2013 either through our existing portfolio, via acquisition, or through a combination of both. We will end 2021 having significantly exceeded my expectations. We have now closed five separate acquisitions this year \u2013 and these deals created a balanced asset base of interests in 22 producing or near-term production wells, provided exposure to additional non-operated drilling expected in 2022, added significant new operated acreage in the Paradox Basin, and tie together nicely with the State 16-2LN-CC well which is lined up for near-term completion and production testing.
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\nCatherine talks to Barney Gray, Consultant Analyst at Turner Pope
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\nhttps://www.share-talk.com/barney-gray-consultant-analyst-at-turner-pope-video-update-on-zephyr-energy-plc-zphr-l/
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