Helium Evolution's Promising Results from the 10-1 Well
CALGARY, Alberta, Heium Evolution Incorporated (TSXV: HEVI), a leading Canadian helium exploration company, is excited to share preliminary testing results from its 10-1-4-9W3 helium well, strategically located on the Mankota helium fairway. Helium Evolution holds a 20% working interest in this significant well, alongside its operational partner, North American Helium Inc.
Key Outcomes from the 10-1 Well
The completion and initial production testing phases of the 10-1 Well are currently in progress. After an extensive four-day flow testing period, the well demonstrated a robust production rate of approximately 9.5 million standard cubic feet of gas per day at a flowing tubing pressure of 10,800 kilopascals. Notably, the preliminary results also confirmed an impressive helium content of 0.75%, considerably exceeding the commercially viable threshold of 0.3%. Furthermore, the well recorded minimal water production, indicating promising prospects for efficient helium recovery.
Next Steps for Evaluation
Following the extended production flow, the 10-1 Well will be shut in for a 14-day period to gather reservoir pressure data. This information will be crucial for further assessing the resource's long-term viability and potential output rates.
Highlights from Other Wells
Helium Evolution is committed to maintaining a comprehensive understanding of its well performance metrics. Here are several key parameters from select wells:
Flow Test Summary
- 10-1 Well (Preliminary): 24,069 kPa bottom hole pressure, 78°C bottom hole temperature, 9.5 MMscf/d, 10,800 kPa tubing pressure, negligible water.
- 9-35 Well: 23,928 kPa bottom hole pressure, 81°C, with a helium content of 0.64% and a production rate of 7.0 MMscf/d.
- 2-31 Well: 24,189 kPa bottom hole pressure, 81°C, helium content at 0.95% and 4.0 MMscf/d production.
Plans for Future Development
Looking toward the future, Helium Evolution is in close collaboration with North American Helium to map out the next phase of its development strategy. This includes the drilling of a joint well at 10-36-3-9W3, anticipated to begin development soon. This new drilling venture is engineered to further identify and define the helium pool in this region.
Evaluation of Processing Facilities
In tandem with drilling operations, North American Helium is assessing the installation of helium processing facilities nearby. Helium Evolution strongly supports this initiative, which is essential for propelling the company toward commercial helium production.
Stay Informed for More Developments
For those wishing to stay updated on Helium Evolution's progress and opportunities, we encourage visiting the company’s website, where investors can find ongoing updates and future plans.
About Helium Evolution Incorporated
Helium Evolution is recognized as one of the largest holders of helium land rights in North America among publicly traded companies. With over five million acres under permit in close proximity to proven helium concentrations, the company is well-positioned to enhance its exploration and development efforts toward becoming a key supplier in the global helium market.
Frequently Asked Questions
What was the production rate of the 10-1 Well?
The 10-1 Well achieved a production rate of approximately 9.5 million standard cubic feet per day.
What is the helium content of the 10-1 Well?
The helium content of the 10-1 Well was confirmed to be 0.75%, significantly above the commercially viable threshold.
What are the next steps for the 10-1 Well?
After the initial testing phase, the well will undergo a shut-in period to collect reservoir pressure data for further evaluation.
What other wells are mentioned in the report?
Other wells mentioned include the 9-35 Well and the 2-31 Well, both of which have shown encouraging helium content and production rates.
What are the company's future plans?
Future plans include drilling the 10-36 Well and evaluating the installation of processing facilities to support commercial production.
