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An update from Helix Exploration Plc ( (GB:HEX) ) is now available.
Helix Exploration PLC has announced successful flow testing and gas analysis results at the Inez #1 well in the Rudyard Field Project, Montana. The well, which was perforated at a 55ft interval within the Lower Souris and Red River formation, showed a high-grade helium concentration of 1.2% and a flow rate of 1,157 Mcf/d. This development adds to the company’s production capacity and validates the commercial potential of the Rudyard Field. The company plans to further explore the upper Souris River formation, which could enhance current flow rates. The success of the acidization process at Inez #1 suggests potential improvements in flow rates for other wells in the field, reinforcing Rudyard as a cornerstone helium project.
More about Helix Exploration Plc
Helix Exploration is a helium exploration company focusing on the exploration and development of helium deposits within the ‘Montana Helium Fairway’. Founded by industry experts with extensive experience in helium systems in the US, the company was listed in April 2024. Helix is focused on production at its Rudyard Project in northern Montana, leveraging existing infrastructure and low-cost processing to target first gas in 2025. The company operates four production wells targeting helium/nitrogen gas in the Souris and Red River formations, with potential revenue generation over a 12.5-year field life.
Average Trading Volume: 1,422,623
Technical Sentiment Signal: Buy
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