Zephyr Energy (AIM:ZPHR) has acquired a further 2,294 acres of Utah Trust Lands Administration leases in the Paradox Basin, lying immediately north of its White Sands Unit, funded from existing cash.
The acreage was nominated for auction by Zephyr itself and secured through a sealed-bid process, carrying a five-year primary term and a 16.67% lease royalty.
The deal follows a circa 27,000-acre acquisition announced on 26 June, making this the second Paradox Basin land addition within a week and bringing the company's total operated position to more than 72,000 gross acres, the majority held at a 100% working interest.
The Paradox project's White Sands Unit, covering 20,000 acres of that total, underpins a 2025 independent Competent Persons Report confirming 2P reserves of 35.3 million barrels of oil equivalent and total recoverable resources of 74.2 million barrels of oil equivalent.
"With every acquisition of regional acreage, we consolidate and increase the attractiveness of our regional holdings," said chief executive Colin Harrington.
Zephyr has nominated additional leases to the north of the White Sands Unit that are expected to be auctioned in September 2026, signalling further potential expansion of the position.
