Zephyr Energy plc announced that following a detailed selection process, Zephyr has signed a rig contract with Helmerich & Payne ("H&P") for its Rig 257 which will be used to redrill the State 36-2 well (the "State 36-2R well") on the Company's project in the Paradox Basin, Utah, U.S. 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 rigis wrapping up a sustained and successful drilling campaign in the nearby Uinta Basin and will mobilise to the State 36-2R well site in the near-term, with an expected spud in mid-April. In the meantime, the Company plans to mobilise a spudder rig to site in order to set the conductor casing ahead of the larger drilling operation.
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