Zephyr Energy PLC First Quarter 2022 Sales Update (0362L)
11 5월 2022 - 3:02PM
UK Regulatory
TIDMZPHR
RNS Number : 0362L
Zephyr Energy PLC
11 May 2022
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
11 May 2022
Zephyr Energy plc
("Zephyr" or the "Company")
First Quarter 2022 sales update from non-operated Williston
Basin portfolio
Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky Mountain
oil and gas company focused on responsible resource development
from carbon-neutral operations, is pleased to provide an update on
first quarter 2022 ("Q1") hydrocarbon sales from its non-operated
asset portfolio in the Williston Basin, North Dakota, U.S.
Williston Basin Sales Update
Q1 sales from the Company's Williston Basin portfolio averaged
circa 1,600 barrels of oil equivalent per day ("boepd") net to
Zephyr, up from 548 boepd in Q4 2021.
During the quarter, Zephyr sold 144,540 barrels of oil
equivalent ("boe"), and net sales to Zephyr were as follows:
Oil: 109,940 barrels ("bbls") at an average sales price of
US$90.11 /bbl
Natural Gas: 114,096 million cubic feet ("mmcf") at an average
sales price of US$5.40 /mcf
Natural Gas Liquids: 15,584 bbls at an average sales price of US$64.19 per bbl
( Note: First quarter production volumes and average sales
prices figures include field estimates in respect of March 2022 gas
and NGL sales volumes.)
At the end of Q1 Zephyr had 185 wells available for production,
including seven wells that came online during the quarter.
First quarter revenues totalled US$11.5 million net to Zephyr,
and Q1 average operating expenditure was US$11.87 /boe
demonstrating the high profit margin realised from the hydrocarbons
sold during the period.
Williston Basin production outlook
16 new producing wells from Zephyr's existing portfolio are
expected to be brought online during the next six months.
The Company has currently hedged just under half of its forecast
non-operated production over the next two years. Using an average
hedged production price of US$98 for the remainder of the year and
using US$90 flat for the remainder of its anticipated production,
the Company forecasts a range of US$35-40 million in revenue from
production for FY 2022 from its non-operated portfolio based on
forecast production range of 500,000 - 550,000 boe during the
year.
Appointment of Capital Markets Adviser
The Company is also pleased to announce that it has engaged
Auctus Advisors LLP ( www.auctusadvisors.co.uk ), a specialist
equity capital markets and advisory business with a focus on
institutional investment and the energy sector, to publish equity
research on the Company and provide a range of institutional
corporate broking and corporate finance advisory services.
Contacts:
Zephyr Energy plc Tel: +44 (0)20 7225
Colin Harrington (CEO) 4590
Chris Eadie (CFO)
Allenby Capital Limited - AIM Nominated Tel: +44 (0)20 3328
Adviser 5656
Jeremy Porter / Liz Kirchner / Vivek
Bhardwaj
Turner Pope Investments - Broker Tel: +44 (0)20 3657
James Pope / Andy Thacker 0050
Celicourt Communications
Mark Antelme / Felicity Winkles Tel: +44 (0) 20 8434
2643
Dr Gregor Maxwell, BSc Hons. Geology and Petroleum Geology, PhD,
Technical Adviser to the Board of Zephyr Energy plc, who meets the
criteria of a qualified person under the AIM Note for Mining and
Oil & Gas Companies - June 2009, has reviewed and approved the
technical information contained within this announcement.
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END
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May 11, 2022 02:02 ET (06:02 GMT)
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