Projects
Zephyr Today
- Zephyr is a clean public vehicle with no debt, low fixed costs and a team built to grow through development and acquisitions
- Active deal pipeline
- Proprietary tools built to give evaluation advantage
Williston Basin, North Dakota
- Non-operated interests in 5 horizontal wells, spread across three drilling pads, which will produce from the Bakken and Three Forks formations:
- 1 currently producing well
- 4 drilled but uncompleted wells (“DUCs”) scheduled to come online in 1H 2021
- 2P Reserves: estimated 449,434 boe
- Working interests range from 16.8% to 37.2%
- Acquired for $0.78/boe acquired in March 2021
- Operated by Whiting Petroleum, an active & highly experienced regional operator
- Excellent low-risk production assets acquired with highly compelling economic potential
DJ Basin, Colorado
- Strong local partners and active acquisition efforts underway
- Proprietary basin model
- Option to participate in McCoy horizontal drilling program
- McCoy option extended – participation in a significant horizontal development alongside Great Western, one of the basin’s most active drillers
- Drilling expected 1H 2022
- Capex costs have already decreased by 30% in the region – break-evens lowered to sub $30/bbl
Paradox Basin, Utah
- Approximately 25,000 acreage leasehold
- Recent 3D Seismic
- Recent “dual-use” vertical well generated significant reservoir core and log data
- DOE Partnership
- Zephyr-operated with a 75% working interest
- The Paradox is a natural fracture play may provide better economics than US resource plays
- Excellent 3D seismic across position
- Extensive core and significant log data recently secured
- Partnership with DOE and University of Utah designed to increase basin visibility
- Zephyr secured a $2 million DOE grant to assist basin understanding and drill stratigraphic well
- 2C NPV-10 Estimates (at $60 per barrel) of $156 million in the Cane Creek Reservoir alone, as per a 2018 Gaffney Cline & Associates Competent Persons Report.
- Multiple stacked reservoirs above the Cane Creek Reservoir are also being evaluated, including reservoirs where evidence of hydrocarbon charge was detected during the recent drilling of the Zephyr’s State 16-2 “dual-use” well.
Zephyr Growth Plan
Why the Rocky Mountain Basins?
Ability to deploy capital at a range of scales
Potential for profitable growth
Broad range of asset opportunities and owner types
Increases chance for deal completion
Profitable asset base
Use of technology to select the best assets and take advantage of information asymmetry
Less competition and lower acreage cost compared to the larger Permian Basin, Eagle Ford and Bakken plays
Lower entry costs improving profitability and less competition.
DJ Basin lower well costs
Improves profitability and allows the broadening of the well portfolio
Utah asset
Focused base of operations from Denver
