Zephyr Energy has expanded its operated land position in the Paradox Basin, Utah, with the acquisition of approximately 27,000 acres of additional leases. This brings the company's total operating acreage in the basin to around 70,000 gross acres, most held with a 100% working interest. The majority of the new land, about 24,000 acres, was secured through a competitive lease sale by the US Bureau of Land Management, with the remainder obtained via direct negotiations with the Utah Trust Lands Administration. The federal leases carry a ten-year primary term, while the state leases have a five-year term. The acreage is contiguous with Zephyr's White Sands Unit and is expected to feature similar reservoir conditions, potentially enhancing future development drilling and offering further exploration opportunities for helium below the Paradox Formation.
Zephyr Energy PLCAcquisition of 27,000 acres expands land position and future drilling potential in Paradox Basin.