UK-based Zephyr Energy secures loan refinancing for Paradox project in Utah, US. The company also obtains additional loan financing for near-term expansion plans. North-Dakota lender FIBT reduces Zephyr’s outstanding borrowings to $22.1m. Zephyr consolidates loans, lowers interest rates, and rolls $4m into a new loan. CEO Colin Harrington highlights progress on Paradox project and refinancing benefits.

Zephyr Energy secures $2m in additional loan financing for near-term expenditures. Focus on tying in three wells at Paradox project for future hydrocarbon production. Progress with Enbridge on pipeline infrastructure work and regulatory approvals for gas transportation service. Substantial increase in reserves and resource estimates reported for Paradox basin assets. Sproule-ERCE International reveals a 93-fold increase in proved recoverable reserves to 14.8 million barrels of oil equivalent.

Read more at Yahoo Finance: Zephyr Energy secures loan refinancing for Paradox project in Utah, US