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Helix Exploration (LON:HEX), a company focused on helium exploration in the Montana Helium Fairway, has commenced drilling the Clink #1 well on the Ingomar Dome project area in Montana. This well aims to evaluate multiple reservoir targets, including the Amsden, Charles, Flathead Formations, and the fractured Pre-Cambrian basement.
Drilling Details
- Primary Target: Flathead Formation at 7,410 feet (2,260 meters)
- Secondary Targets: Amsden Formation at 3,840 feet (1,170 meters) and Charles Formation at 4,780 feet (1,460 meters)
- Tertiary Target: Fractured basement plays in the Pre-Cambrian from 7,750 feet (2,360 meters)
Historic drilling in these formations has identified nitrogen-rich gas, but helium has not been previously assayed. The drilling is expected to take 3-4 weeks, followed by wireline logging and extended flow tests.
Planned Operations
- Wireline Logging: To determine subsurface formation properties, including porosity, permeability, and gas presence.
- Extended Flow Testing: To assess production profiles and determine long-term flow rates and reserves.
The well is located on the crest of the Ingomar Dome, close to the Hilliston #1 well, which previously tested high nitrogen gas but was not assayed for helium. Clink #1 is designed to explore beyond the Amsden Formation to target stacked reservoir zones in the Flathead and Charles Formations.
Upcoming Drilling Program
Clink #1 is the first well in a two-well drilling program for Q3. The second well, at the Rudyard Project, will appraise contingent helium resources. The Rudyard Project includes three stacked reservoir horizons within two co-joined domes, with helium proven at target depths between 5,000 feet and 5,500 feet (1,500 meters - 1,700 meters).
CEO Comments
Bo Sears, CEO of Helix Exploration, expressed enthusiasm about the commencement of drilling at Clink #1, emphasizing the well's potential to test multiple target horizons. Successful results could lead to using Clink #1 as a future production well, aiming for first gas production by the end of 2025. Sears also acknowledged the team's efforts in reaching this milestone rapidly and pledged to keep the market informed about the drilling campaign's progress.
Background
- Drilling Start: August 11, 2024
- Location: Ingomar Dome, Montana
- Target Depths: 3,840 feet to 7,750 feet (1,170 meters to 2,360 meters)
Rudyard Project Overview
The Rudyard Project consists of two domed anticlinal structures with proven helium in previous wells. The Darwin #1 well will explore additional potential in the Dry Creek Formation. The project has Contingent Helium Resources of approximately 484,000 Mcf and Prospective Helium Resources of about 112,000 Mcf.
