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Highlights
- Jackson-31 Well Spud: Drilling has commenced at the Galactica helium project in Colorado, USA.
- Target Depth & Next Steps: The well will reach the Upper Lyons Formation, followed by wireline logging, flow testing, and pressure readings.
- Galactica Development: Part of the larger Galactica-Pegasus project, which has shown helium concentrations of 2.0% to 6.1%.
Helium One Global (LSE:HE1), a leading helium explorer in Tanzania and a 50% stakeholder in the Galactica-Pegasus helium project in Colorado, USA, has announced the spudding of the Jackson-31 SENW 3054 development well at the Galactica helium project in Las Animas County, Colorado.
This marks a critical step in advancing the project, which has demonstrated promising helium concentrations and production potential.
Jackson-31 Well Progress & Objectives
Helium One confirmed that the shallow conductor section has been set, and blowout preventers (BOPs) are now being installed and tested ahead of drilling the intermediate hole section.
Once the intermediate section is cased, the well will target the Lyons Formation, a well-known gas reservoir, with a planned target depth (TD) within the Upper Lyons Formation.
Upon reaching TD, the company will conduct wireline logging, followed by flow and pressure testing at the wellhead. The data gathered will be used to estimate the well’s production potential, a key factor in determining its economic viability. Jackson-31 is expected to be completed and connected to production facilities once all assessments are finalized.
Galactica-Pegasus Development: A High-Potential Helium Project
The Galactica Project is part of the broader Galactica-Pegasus helium development, originally discovered by Blue Star Helium (ASX:BNL) in 2022. This large-scale project holds significant commercial promise, offering multiple product streams beyond helium.
Key findings from previous exploration at Galactica-Pegasus include:
- Four existing discoveries (JXSN-1 to JXSN-4), which delivered gas flows between 125 and 412 thousand cubic feet per day (Mcfd), with helium concentrations ranging from 2.0% to 6.1%.
- State-16 well (drilled June 2024), which was independently assessed as capable of producing up to 441 Mcfd, with more stabilized production rates estimated between 250 Mcfd and 350 Mcfd. The well contained 1.9% helium with a 96+ feet gas column in the Lyons Sandstone Formation.
Advancing Towards Commercialization
The Red Rocks helium project, owned by a third party, is located adjacent to Galactica, further reinforcing the area’s commercial helium potential.
Additionally, Blue Star is advancing engineering work related to CO2 removal, purification, and helium processing using the IACX helium recovery unit. The company continues to optimize development plans, production forecasts, and cost estimates, ensuring an efficient path toward commercialization.
