(NewsDirect)
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF)CEO Colin Harrington provides an update on the company'sfourth-quarter production and future plans in an interview withProactive London's Stephen Gunnion.
Harrington highlighted a 7% increase in average productionacross the quarter, with significant contributions from the newSlawson wells despite temporary curtailments. Revenues also roseduring the quarter, despite softer oil prices and operationalchallenges.
The company successfullynavigated extreme cold temperatures at Williston over the winter,which had shut down over half the basin at one point and resulted intemporary curtailments at the Lawson site.
Looking ahead, Harrington discussed the positive performance oftwo new wells, contributing to expected strong results for the firstquarter.
Zephyr Energy has alsoadjusted its reporting method to provide more timely and consistentinformation by moving to two-phase data reporting (oil and gasproduction) quarterly, with a detailed three-phase analysisannually.
Additionally, Harrington elaborated on thecompany's preparations for an upcoming drill in the Paradox basin,including the completion of an intensive planning process and thefinalisation of rig contracts. The company anticipates drilling in thenear term and is preparing the site for operation.
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