Helium Evolution Updates on 5-30 and 10-36 Wells
Helium Evolution Incorporated (TSXV:HEVI) is making waves in the helium exploration sector with important updates regarding its well sites located along the Mankota helium fairway. As a Canadian-based company dedicated to helium development in southern Saskatchewan, Helium Evolution holds a 20% working interest in both the 5-30-3-8W3 well—known as the 5-30 Well—and the 10-36-3-9W3 well referred to as the 10-36 Well. These discoveries are emerging as promising assets in the company’s portfolio.
5-30 Well Results
Recently, preliminary results from the 5-30 Well showcased production levels reaching approximately 9.7 million standard cubic feet per day (MMscf/d) at a flowing tubing pressure of 10,700 kiloPascal (kPa). After undergoing a five-day extended flow period, the well demonstrated a helium content of 0.76%, well over the commercially viable threshold of 0.3%. This suggests a strong potential for efficient helium recovery with negligible water presence observed during the tests.
Following the initial announcement, a pressure transient analysis (PTA) conducted by Petro Management Group Ltd. confirmed that the 5-30 Well is indeed a new pool discovery. The analysis revealed an absolute open flow potential (AOFP) of 20.7 MMscf/d, providing even more confidence in the well's productivity. With pressure data collected from nearby wells indicating the extent of the reservoir might stretch nearly three kilometers, future drilling efforts can help reveal the true magnitude of the helium resource here.
10-36 Well Performance
Simultaneously, the 10-36 Well produced impressive results with an output of approximately 11.5 MMscf/d at 13,100 kPa pressure after an extended flow test. The well's helium content was confirmed at 0.81%, again exceeding expectations. Over the same period, minimal water production was noted, which is a good sign for the efficiency of extraction processes.
After this testing phase, the 10-36 Well observed a shut-in period for gathering further reservoir pressure data. A follow-up PTA, similar to that of the 5-30 Well, provided significant insights into the reservoir's properties, showing no pressure depletion and high permeability. The calculated AOFP of this well marked it as Helium Evolution's largest to date at 38.0 MMscf/d, reinforcing the company's position in the helium market.
Insights and Future Developments
Both the 5-30 and 10-36 Wells have certainly surpassed initial expectations, exhibiting strong helium content and minimal water production—favorable indicators for future helium extraction. According to Greg Robb, CEO of Helium Evolution, the company is committed to further development of these wells with planned drilling and facility installations anticipated in the upcoming months.
Company Overview
Helium Evolution is not just a player but a leader in the helium exploration industry, holding the largest helium land rights position in North America among publicly listed companies. With over five million acres of land permitted, and close to proven economic helium concentrations, the company is positioned to scale its operations across its vast land base effectively. Helium Evolution is executing a well-considered strategy focused on becoming a key supplier of sustainably produced helium to accommodate the increasing global demand.
Stay Connected
The company encourages all interested parties to visit its official website to stay updated on ongoing projects and opportunities. Shareholders can also access the company’s corporate presentations and follow its progress on platforms like LinkedIn and X.
Frequently Asked Questions
What recent developments have been reported from Helium Evolution?
Helium Evolution has shared updates on the 5-30 and 10-36 Wells, highlighting significant helium production levels and content, exceeding expectations.
How much helium is being produced from the 5-30 Well?
The 5-30 Well is producing approximately 9.7 MMscf/d with a helium content of 0.76% after thorough testing.
What are the main results from the 10-36 Well?
The 10-36 Well has produced around 11.5 MMscf/d at a helium content of 0.81%, marking it as one of Helium Evolution's most productive wells.
What is Helium Evolution’s long-term strategy?
The company's strategy focuses on scaling helium production sustainably and expanding its exploration footprint across its substantial land rights.
How can investors learn more about Helium Evolution?
Investors can stay informed by visiting Helium Evolution's website and connecting via LinkedIn or X for ongoing updates and insights.
