Zephyr Energy Secures Rig Contract for Paradox Basin Extended Lateral Drilling

2 min read | December 23, 2024 12:03 AM PST | By Team Kalkine Media

Zephyr Energy Secures Rig Contract for Paradox Basin Extended Lateral Drilling — Image source: Shutterstock

Rig Contract Secured

Following the funding secured on 18 December 2024, Zephyr has signed a contract with Nabors Drilling USA, a leading global drilling contractor, for the use of its B29 rig to drill the extended lateral. Nabors brings extensive experience with onshore U.S. drilling and has a fleet capable of handling the high reservoir pressures expected at the site. The rig, currently finishing a successful drilling campaign in a nearby basin, is expected to mobilize to the Paradox project by mid-January.

Drilling Outlook for 2025

Drilling is expected to begin in January 2025, with the well targeting an additional 5,500 feet of the Cane Creek reservoir. Zephyr Energy estimates that ultimate recoveries from the extended lateral well could be up to two million barrels of oil equivalent. After drilling, the well will undergo completion and production testing, with results anticipated by the end of March 2025.

Next Steps

Once testing is complete and results meet expectations, Zephyr plans to finalize gas processing and infrastructure for the project, aiming to tie in both the extended lateral well and the State 16-2 LN-CC well for production.

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