Zephyr Energy to Acquire Majority Stake in Helium-Rich Land
- AKAP
- Oct 24, 2023
- 8 min read
Zephyr Energy, a UK listed oil and gas company, is to acquire a majority stake in a 1,047-acre land with proven helium reserves in the Salt Wash Field in Utah's Paradox Basin for US$600k. Historically, 1.65mmbbl of oil and 11.7 bcf of gas was produced prior to being shut in, and helium concentrations of 1.4%-1.7% were recorded. The land is estimated by the company to hold 70-190mmcf of discovered helium resource and another 40-66 mmcf of prospective resource. The acquisition includes at least a 75% working interest in the Salt Wash plot, with drilling planned for Q2’24 at a cost of US$6mm.
