Transformed Zephyr Energy continues production led growth

Zephyr is focused on upstream development in the Rocky Mountain region of the American West.

Following an acquisition in 2021, the company owns non-operated interests in 5 wells and is actively pursuing other transactions in this region.

Up more than 700% in the year-to-date Zephyr Energy Plc will be high on the list of trades you ought to have made in 2021 – along with the likes of Bitcoin, Ethereum, AMC Entertainment and GameStop.

In London, only blockchain and cryptocurrency specialists GST Technologies Ltd and Quantum Blockchain Technologies PLC (AIM:QBT) have outperformed Zephyr shares, in terms of percentage growth.

If you weren’t punting meme-stocks and cryptos in 2021, then AIM-quoted Zephyr would’ve been your top stock through the first 46 weeks of the year.

Zephyr is up another 5% on Monday on its latest acquisition news, changing hands above 7p to value the AIM-quoted firm at close to GBP90mln.

Zephyr Energy PLC has signed a binding agreement to acquire a package of non-operated interests in producing and near-production assets in North Dakota, adding to a similar asset package acquired earlier this year.

This latest deal sees the company pay up to US$36mln for wells currently producing close to 900 barrels of oil equivalent production per day, and a package of wells due online in 2022 to yield around 1,100 boepd. The assets are spread across 22 well pads in the Williston Basin, North Dakota.

Zephyr Energy Plc announced the first flowing hydrocarbons from the state 16-2LN-CC well in Utah as production testing and well clean-up operations continue.

The production of hydrocarbons is a major milestone for the company, Zephyr said in a statement and marks the first horizontal well in the wider Paradox Basin to flow hydrocarbons using a modern hydraulically stimulated completion.

Zephyr Energy PLC’s Colin Harrington joins Proactive London’s Katie Pilbeam to talk about their new binding agreement to acquire a package of non-operated interests in producing and near-production assets in North Dakota.

This latest deal sees the company pay up to US$36mln for wells currently producing close to 900 barrels of oil equivalent production per day, and a package of wells due online in 2022 to yield around 1,100 boepd. The assets are spread across 22 well pads in the Williston Basin, North Dakota.