Zephyr Energy acquires 27,000 acres in Utah’s Paradox Basin

Zephyr Energy has expanded its operated onshore presumption successful the Paradox Basin, Utah, US, with the acquisition of astir 27,000 acres of further leases.

This brings the UK-based lipid and state company's full operating acreage successful the basin that makes up the Paradox task to astir 70,000 gross acres, astir of which are held with a 100% moving interest.

The bulk of the recently acquired land, astir 24,000 acres, was secured done a competitory lease merchantability conducted by the US Bureau of Land Management (BLM).

The remaining acreage was obtained via nonstop negotiations with the Utah Trust Lands Administration (TLA).

The national leases person a superior word of 10 years, portion the authorities leases person a five-year term.

Zephyr Energy utilized existing currency resources to screen the acquisition costs.

Paradox Basin has a long-standing past of exploration and production.

According to Zephyr Energy, the caller acreage is contiguous with its White Sands Unit (WSU) and is expected to diagnostic akin reservoir conditions to its existent holdings successful the Paradox Formation lipid and earthy state play.

The onshore is located to the southbound and westbound of the White Sands Unit, which volition payment aboriginal improvement drilling, and could beryllium incorporated with existing infrastructure.

There are besides indications of further exploration and improvement opportunities for helium beneath the Paradox Formation successful the recently acquired area.

The institution noted the anticipation of unitising the caller land, either by expanding the existent national portion oregon forming caller ones, taxable to regulatory approvals.

Zephyr Energy CEO Colin Harrington said: "I americium delighted that we person bolstered the standard of our Paradox task with the acquisition of this contiguous acreage package, which we judge volition importantly heighten the commercialized worth of the Paradox project.

"These acquisitions travel astatine a captious signifier successful our ongoing improvement of the Paradox project, successful peculiar arsenic we advancement the farm-out discussions for the project."

In a abstracted development, Zephyr Energy confirmed it has completed the merchantability of undeveloped, non-core acreage successful the Powder River Basin, Wyoming, US.

The institution has received nett proceeds of astir $2.2m (£1.66m) from these transactions.

This acreage was portion of a erstwhile $7.3m acquisition that included some producing wells and undeveloped land, announced successful August 2025.

In November past year, the institution secured indebtedness refinancing for the Paradox project. Zephyr Energy besides has non-operated accumulation stakes successful the Williston and different Rocky Mountain basins successful the US.

"Zephyr Energy acquires 27,000 acres successful Utah's Paradox Basin" was primitively created and published by Offshore Technology, a GlobalData owned brand.