Zephyr Energy PLC has acquired oil and gas assets to aid development of its Paradox basin gas project in Utah. The assets will allow Zephyr to substantially reduce capital required to build the necessary gas export infrastructure for its forecast gas production from Paradox.
The acquisition includes 21 miles of natural gas gathering lines, the Powerline Road gas processing plant (which is not currently in operation), rights-of-way for additional gathering lines, active permits, five existing wellbores, and additional acreage which is partly contiguous to the company’s operated White Sands Unit.
Zephyr Energy plc (LON:ZPHR) is an investment platform formed to aggregate responsibly-developed, economically-attractive oil and gas interests in the Rocky Mountain region of the United States.