Zephyr Energy to proceed with redrill at State 36-2 well
–News Direct–
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) chief executive Colin Harrington speaks to Thomas Warner after the Rocky Mountain-focused oil and gas company released a fresh update on its work in the Paradox Basin.
Harrington starts by giving an update on the company's State 36-2 LNW-CC well, which back in April experienced a control incident during which hydrocarbons flowed unconstrained for four days due to the failure of a safety valve. He explains that after exploring multiple ways to move forward with the well the decision has been taken to proceed with a redrill of a "twinned" well from an adjacent location on the same drilling pad.
The Company said in its accompanying RNS that it retains full well control insurance coverage and expects to recover su...
