Helmerich & Payne secure drilling rig contract for Zephyr Energy’s Paradox basin project in Utah

(WO) – Following a detailed selection process, Zephyr Energy has signed a drilling rig contract with Helmerich & Payne ("H&P") for its Rig 257, which will be used to redrill the State 36-2 well in the Paradox basin, Utah.

Rig 257 is a Flex 3 1,500HP drilling rig fully capable of drilling the planned well and managing the high reservoir pressures expected to be encountered. The rig is wrapping up a sustained and successful drilling campaign in the nearby Uinta basin and will mobilize to the State 36-2R well site in the near-term, with an expected spud in mid-April. In the meantime, Zephyr plans to mobilize a spudder rig to site to set the conductor casing ahead of the larger drilling operation.

Zephyr Energy plc is an oil and gas company focused in the Rocky Mountain region of the United States. Zephyr's flagship asset is an operated lease holding of over 46,000 gross acres located in the Paradox basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 MMboe, 2C resources of 34 MMboe and 2U resources 270 MMboe.