ZEPHYR ENERGY PLC Zephyr Energy plc
Annual Report and Financial Statements
For t e ear ended | ecem er |
2022
We are a technology-led producing oil and gas company focused on responsible resource development from carbon-neutral operations. We have a balanced portfolio of both operated and non-operated assets, located in two established oil-producing basins in the Rocky Mountain region of the U.S.
Our vision is to open up the next prolific onshore U.S. oil and gas play.
Contents
Strategic Report
Page Governance | Page Financial Statements | Page |
usiness i | li | ts | |||
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irm n s St tement | |||||
ur Str | te | nd | lue roposition | ||
Report | nd | per tin | Re ie | ||
S | |||||
Fin nci l Re ie | |||||
rinciple Ris | s | nd | ncert | inties | |
S 2 | St tement |
o rd o | irectors | |
2 Senior | n | ement |
orpor te | o ern nce St tement | |
irectors Report | ||
St tement o | irectors Responsi ilities |
ndependent Auditor s Report
22 | onsolid ted ncome St tement | 2 |
- onsolid ted St tement o
- ompre ensi e ncome
0 | onsolid ted | l nce S | eet | |||
onsolid ted St tement o | ||||||
n es in | uit | |||||
onsolid ted | s | Flo | St tement | |||
omp n | l nce S eet | |||||
omp n St tement o | n es | |||||
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otes to t | e Fin nci l St tements | 0 |
Other Information
irectors Ad isers nd icers loss r
Zephyr Energy plc Annual Report and Financial Statements 2022
Zephyr Energy plc Annual Report and Financial Statements 2022
Strategic
Report
Business highlights
FY 2022 REVENUES | 2P RESERVES | FY 2022 NON-OP |
US$41.1million | PARADOX | PRODUCTION |
FY 2021 US$6 million | 2.57mmboe | 1,410boepd |
FY 2021 263 boepd | ||
FY 2022 NET CASH | 2C RESOURCES | |
GENERATED FROM | PARADOX | PARADOX ACREAGE |
OPERATIONS | 34mmboe | AT JUNE 2023 |
US$27.2million | 45,000acres | |
FY 2021 US$1 million | 2U RESOURCES | |
CASH AND CASH | PARADOX | FY 2022 HEALTH AND |
270mmboe | SAFETY INCIDENTS | |
EQUIVALENTS AT | Nil | |
31 DEC 2022 | ||
US$9million | FY 2021 Nil | |
FY 2021 US$1.8 million |
Zephyr Energy plc Annual Report and Financial Statements 2022 | 1 |
Strategic Report
Balanced growth & asymmetric upside in the U.S. Oil and Gas sector
At a glance
Creating value through responsible oil | Our assets | |
and gas development and production | ||
We have a balanced portfolio of both operated | ||
As an oil and gas producer, we recognise we | and non-operated assets located in | two |
have an important part to play in shaping the | established oil producing basins in the U.S. | |
future of our industry and a sustainable future. | ||
This strategy provides portfolio | diversification | |
Our purpose is to drive growth and create long- | and an asymmetrical growth potential. | |
term value for all stakeholders through | ||
responsible oil and gas production. | The Paradox project | |
Central to our purpose are our values
- Responsible stewards of investors' capital
- Responsible stewards of the environment
Our values guide our actions and define everything that we do.
RESPONSIBLE | STRONG | |
FINANCIAL | Williston Basin | |
OIL AND GAS | CONTROLS |
R A
-
A
F R A
S A | RS |
U.S. ONSHORE | TECHNOLOGY- |
OPERATIONS | LED |
2 | Zephyr Energy plc nnual Report and Financial Statements |
Strategic Report At a lance continued
Why the U.S.?
The U.S. possesses vast reserves of oil and natural gas offering significant opportunities for high-margin exploration and production. The country boasts a well-developed energy infrastructure, including pipelines, refineries, and export terminals, facilitating efficient operations and market access with a favourable regulatory framework and investment climate. Furthermore, the country s advanced technology and skilled workforce contribute to operational excellence and innovation.
MONTANA | NORTH DAKOTA | PARADOX | ||||||||
r | e sc le | |||||||||
e plor tion upside | ||||||||||
per tion l control | ||||||||||
o er or | nic ro | t | ||||||||
on | term de elopment | |||||||||
WYOMING | potenti l | |||||||||
WILLISTON | ||||||||||
UTAH | o | nside protection t rou | current | |||||||
production nd c s | lo | |||||||||
Attr | cti | e ris | d usted returns in | n | ||||||
COLORADO | est | lis ed | sin | |||||||
ert int | o | undin | or | r do | nd o er e d | |||||
c | doll | r spent | ener | tes multiple doll rs | il | le or | ||||
uture in estment | ||||||||||
Current projects | Access to prudent le els o lo | er cost de t | in ncin | |||||||
Areas of interest | A ilit | to | ed | e | nd d mpen commodit price | ol tilit |
COMPOUND GROWTH POTENTIAL
PARADOX PROJECT
UTAH
ur | l | s | ip | sset is in t | e | r | do | sin | |
t | ere | e | old | 000 | cre | ||||
le se | old | it | 2 | reser es o | 2 | mm oe | |||
2 | resources o | mm oe | nd 2 | ||||||
resources 2 0 mm oe | e | re de elopin | |||||||
r do | to deline te t e sc le | nd | lue | ||||||
o | t e | sset |
WILLISTON BASIN
NORTH DAKOTA & MONTANA
e o | n | ro | in | suite o | non oper ted | |
production nd ne r term production | ||||||
ssets in | ort | ot | nd | ont n | ||
c | uired | or t | eir lo | ris | i | return |
c | s | lo | potenti l | ur | illiston port olio | |
currentl | consists o | or in | interests in | |||
o er 200 modern | ori ont l | ells | nd d | |||
turno er o | S | million in F | 2022 | |||
s | lo | rom t e | illiston production | |||
ill | e used to | und t | e pl nned | r do |
pro ect de elopment
Our balanced asset base provides portfolio diversification and an asymmetrical growth potential.
Find out more about our assets and operations on pages 8-14
Zephyr Energy plc nnual Report and Financial Statements | 3 |
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Zephyr Energy plc published this content on 26 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 June 2023 06:06:08 UTC.
