Helix Exploration PLC on Wednesday celebrated the completion of drilling at the Darwin 1 well, which is located on the Rudyard project in Montana.
The helium exploration & development company, which is focused on helium deposits in the US state of Montana, said that a total depth of 5,488 feet was reached in 12 days of drilling.
The firm added that there were ‘significant’ helium gas-shows in multiple horizons, up to 1,312 parts per million in drilling mud. Drilling also indicated over 330 feet of potential gross pay, including formations not tested in historic drilling.
‘Helium gas shows measured by mass spectrometer reached a peak of 1,312 ppm, approximately 250 times the concentration found in ambient air. Mud logging identified 330 feet of potential gross pay, including previously untested formations accessed by deeper drilling. Notably, all targets are positioned higher than anticipated, indicating a larger-than-expected structural closure,’ said Chief Executive Officer Bo Sears.
‘We are proceeding with a triple-combo wireline to further delineate our potential reservoir. With testing also ongoing at Ingomar, we are poised to evaluate our second well concurrently, marking an exceptionally active and promising period for the company.’
Shares in Helix Exploration were trading 3.1% higher at 25.26 pence each in London on Wednesday afternoon.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
