Business
Asset overview of M3 Helium
Asset overview of M3 Helium.
About this update from Mendell Helium Plc
[{"type":"text","content":"\n\n\n \n30 July 2024\n \nVoyager Life plc\n \n(\"Voyager\" or the \"Company\") \n \nAsset overview of M3 Helium\n \nVoyager is pleased to provide the following overview of M3 Helium Corp.'s, (\"M3 Helium\") assets following a visit last week by CEO Nick Tulloch to Kansas, USA. The Company has an option to acquire M3 Helium, a producer of helium based in Kansas and with an interest in six wells.\n \nHighlights\n \n· Six wells in South-Western Kansas\n· One well in production and tied into nearby gathering and processing infrastructure\n· Two further wells in the process of being tied into the same infrastructure\n· Two further wells in the Hugoton North Play fracked and undergoing assessment\n· Sixth well in Fort Dodge tested at 5.1 per cent. helium content as announced on 15 July 2024\n \nHugoton North Play\n \nM3 Helium has an interest in five wells in its Hugoton North Play project. These wells are situated around Garden City in western Kansas and are all within or near the gathering network connected to the Jayhawk gas processing plant near the town of Ullyses and which is owned and operated by Scout Energy Partners (\"Scout\"). Jayhawk produces methane, helium, nitrogen and natural gas liquids.\n \nCarter 1 and Carter 2 wells\n \nThese are the most recent of M3 Helium's wells to be drilled and are approximately one mile apart situated to the north of Garden City. M3 Helium owns a 100 per cent. interest in both of these wells although the Carter 1 well was funded by a third-party in return for the opportunity to acquire helium produced from that well at a price of US$280/Mcf.\n \nThe Carter 2 well completed a fracking operation last week and the team has now begun the process of well clean up, primarily swabbing for accumulated frack fluids, before an assessment can be made of the well's potential flow rates. It is important to note that the geology of M3 Helium's wells varies considerably. The Carter wells, which are situated at the north end of its operations are known to carry greater levels of water and, consequently, this particular fracking operation was executed at low pressure to ensure that the well, following fracking, was not compro...