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Zephyr Energy PLC - oil & gas exploration and development in US Rocky Mountains - Says revenue totals $14.3 million in the second quarter of 2022 from Williston Basin, multiplying from $900,000 the year before. ‘Q2 revenue was positively impacted by deferred payments for production on newly completed wells generated in earlier months but received in Q2,’ Zephyr Energy notes.
Chief Executive Colin Harrington says: ‘With internal development potential fully funded from our existing asset portfolio, we plan on significant further growth over the next twelve months.’
Says second quarter sales volumes averaged about 1,856 barrels of oil equivalent per day compared to 148 boepd a year ago. Zephyr says it reiterates its previous 2022 production and revenue guidance of an expected $35 million to $40 million in non-operated revenue, based on a ‘forecast production range of 500,000 to 550,000 barrels of oil equivalent for the year’.
Current stock price: 5.09 pence, down 4.0% in London on Thursday
12-month change: down 20%
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