Zephyr Energy is advancing its Salt Wash helium project in Utah, where it has acquired a 75% working interest, adding substantial proven oil, gas, and helium reserves to its portfolio near the Paradox project. The Salt Wash Field has historically produced 1.65mmbbl of oil and 11.7bcf of gas with a net helium resource potential in the Leadville Formation estimated between 70-190mmcf. Initial operations, including drilling pad preparation, have begun in preparation for the commitment well required by the farm-in agreement. While full drilling operations are slated for early 2025, Zephyr is actively exploring funding options to potentially cover up to 100% of the well costs.
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