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EnergyPathways shares jump on Zenith collab at MESH
(Sharecast News) - Shares in EnergyPathways jumped by more than tenth on Monday after the energy transition company announced a contract award for its Marram Energy Storage Hub (MESH) project in the Irish Sea. Zenith Energy will provide well engineering services and serve as the well operator at MESH, the AIM-listed firm said.
Zenith will provide a range of services, such as drilling and completion design, permit planning and submission, as well as the well execution of the Marram development wells.
The two companies have already collaborated on the preliminary front end engineering design (pre-FEED) phase of the project, with Zenith said to be the "ideal partner" for the MESH project, according to EnergyPathways' chief operating officer Derek Grimmer.
"Not only can they support the drilling and development aspects of MESH gas storage project, they also have the expertise to support well operations for Long Duration Energy Storage and Hydrogen Storage ensuring they can support us through the full integration of our MESH project."
Shares were 14% higher at 5.64p by 1157 BST.
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