Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Global Helium Acquires Second Production-Ready US Helium Property.

Document Cited in Related
Vincent

MANews-(C)2009-2022

Canada-based helium exploration and development company Global Helium Corp. (CSE: HECO) (OTC: HECOF) has acquired over 15 contiguous sections of previously tested and proven helium property in the Rudyard area of Montana, the company said.

This second US acquisition (see Global news release dated May 18, 2022) is on a well-known, helium-proven structure, which has previously produced and tested 1.3% helium at significant flow rates.

Through an option agreement, the company can elect to increase its landholdings by over 60% to over 24 sections.

The option agreement has been signed with a private company and can be exercised at the company's election, if results meet expectations.

There are two pre-existing wells on the property, both of which tested extremely favorably for both helium content and overall flow rates.

The first well, drilled by Texaco in 1960, flowed at 4.3 mmcf/day with 1.3% of that gas stream being helium, which calculates to over 55 mcf/day of helium.

The most recently drilled well was completed by a private company in 2012, which tested 0.9% helium with a flow rate of 2.5 mmcf/d and 545 psi of tubing pressure, indicating a strong reservoir and the potential for higher absolute overall rates.

With improved drilling techniques, and updated completion and testing methodologies, the...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT