Business
Commencement of Drilling Inez #1
Commencement of Drilling Inez #1.
About this update from Helix Exploration Plc
[{"type":"text","content":"\n\n23 June 2025\n \nHelix Exploration PLC\n(\"Helix Exploration\" or \"Helix\" or the \"Company\")\nCommencement of Drilling Inez #1\nPlant Construction Update\n \nHelix Exploration, the helium exploration and development company with near-term production assets within the 'Montana Helium Fairway', is pleased to announce the commencement of drilling at Inez #1 drill location, the fourth production well at the Rudyard Project, Montana.\nHighlights:\n· Drilling has commenced at Inez #1, the fourth production well at Rudyard, testing known helium reservoirs within the Souris and Red River formations\n· Situated approximately two miles south of Linda #1, and is the first well on the southern dome\n· Drilling will take c.10-14 days to complete, followed by wireline logging and extended flow tests\n· Plant mobilisation commenced\n· On-site plant pad construction work to commence this month\nBo Sears, CEO of Helix Exploration, commented:\n\"Spudding Inez #1 marks another meaningful step forward for Helix as we build on our successes at Rudyard. The well targets two of the same formations that are already known to contain helium within our acreage, but is the first well in the southern dome. Therefore, a successful test here will allow us to significantly expand our reserves.\n\"Meanwhile, our membrane systems are enroute from Germany, bringing us closer to operational readiness. We remain focused on disciplined execution as we transition toward production and unlock the full potential of our northern Montana assets.\"\nInez #1\nHelix has commenced drilling at Inez #1, the fourth production well to be drilled on the Rudyard field. The Inez #1 well, located approximately two miles south of the Linda #1 well, is designed to test two proven helium-bearing formations: the Souris River Formation and the Red River Formation, both of which have demonstrated commercial potential elsewhere in the region.\nInez #1 is the first well to be drilled in the southern dome. As announced on 23 January 2025, the southern dome currently has 2C gross contingent resources of 280 million cubic feet of helium. A successful flow test within the southern dome could upgrade these contingent resources to reserves, further de-risk...