Zephyr expands Paradox basin footprint with 27,000-acre acquisition
(WO) — Zephyr Energy has expanded its operated position in Utah's Paradox basin by acquiring approximately 27,000 additional acres, doubling its acreage around the company's White Sands Unit (WSU) and strengthening its development position in the Cane Creek reservoir.
The acquisition increases Zephyr's operated position in the basin to approximately 70,000 gross acres, the majority of which carries a 100% working interest. Roughly 24,000 acres were secured through a U.S. Bureau of Land Management (BLM) lease sale, with the remainder acquired through direct negotiations with the Utah Trust Lands Administration.
According to Zephyr, the newly acquired acreage lies largely contiguous to the White Sands Unit, providing opportunities to expand future drilling while leveraging existing and planned infrastructure. The company also said the acreage is expected to exhibit reservoir characteristics similar to those encountered within the WSU and offers additional exploration potential for helium beneath the Paradox Formation.
"There is a significant opportunity to enhance the commercial value of the Paradox project through this contiguous acreage package," said Colin Harrington, Zephyr's chief executive officer. "These acquisitions come at a critical stage in our ongoing development of the project, particularly as we progress farm-out discussions."
The company said the acreage could eventually be incorporated into the existing White Sands Unit or developed through new federal units, subject to regulatory approval.
Separately, Zephyr completed the sale of non-core undeveloped acreage in Wyoming's Powder River basin, generating approximately $2.2 million in net proceeds. The assets were part of a broader portfolio acquired in 2025, and the company said it continues to evaluate strategic options for its remaining undeveloped acreage.
The Utah acreage acquisition was funded through existing cash resources.
