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Helix Exploration (LSE:HEX), a prominent player in helium exploration, has commenced drilling at the Clink #1 well within the Ingomar Dome project area in Montana. This marks the beginning of an exciting drilling phase aimed at evaluating the potential of several key helium-bearing formations.
Drilling Commences at Clink #1
Helix Exploration officially started drilling the Clink #1 well on August 11, 2024. The drilling is expected to take approximately 3-4 weeks, followed by wireline logging and extended flow tests. This well is designed to explore stacked reservoir targets across multiple formations:
- Primary Target: Flathead Formation at 7,410 feet (2,260 meters), recognized as a major helium reservoir within the Montana helium fairway.
- Secondary Targets: Amsden Formation at 3,840 feet (1,170 meters) and Charles Formation at 4,780 feet (1,460 meters). These formations have shown high nitrogen gas in historical drilling but have not been assayed for helium.
- Tertiary Target: Conceptual fractured basement plays in the Pre-Cambrian from 7,750 feet (2,360 meters), an untested area from past exploration.
The primary goal is to identify and quantify helium resources in these formations, leveraging the historical data that indicates high nitrogen gas content.
Background and Objectives
The Clink #1 well is strategically located at the crest of the Ingomar Dome, close to the historic Hilliston #1 well, which previously tested a significant gas column but was not assayed for helium. This well aims to extend beyond the Amsden Formation to evaluate the Flathead and Charles Formations, which are known to host helium in other locations.
The secondary targets have shown gas columns in previous wells, though helium assays have not been performed. Helix Exploration aims to determine the helium potential in these formations and assess their viability for future development.
Upcoming Drilling Program
Clink #1 is the first of two wells planned for the third quarter of 2024. The second well will be drilled at the Rudyard Project to appraise contingent helium resources. The Rudyard Project features stacked reservoir horizons within two co-joined domed anticlinal structures and has demonstrated helium presence in historic wells.
- Darwin #1 Well: Located on the northern dome of the Rudyard Project, this well will target three stacked reservoir horizons, including the previously untested Dry Creek formation. The Rudyard Project is estimated to hold significant contingent and prospective helium resources.
Future Steps and Expectations
Following the drilling of Clink #1, Helix Exploration will conduct open-hole logging to evaluate petrophysical properties such as porosity and permeability. Positive results will lead to casing and cementing, followed by formation testing and extended flow tests to assess the flow rates and reserve potential.
The results from Clink #1 and the upcoming Rudyard drilling program are crucial for advancing Helix Exploration’s helium resource base and development plans. The Company will provide ongoing updates on the progress of these operations, including any significant findings during the drilling phase.
