Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) has announced its initial set of development plans for 2024, which will be focused on high grading its existing drilled fields in Saskatchewan.
The company said its development efforts this year will be centered on the completion and testing of existing wells in the Val Marie, Ogema, and Steveville properties.
At Steveville, the company has identified a potentially productive zone behind pipe at Steveville-1 which it intends to test.
The addition of a third well feeding the helium facility there is projected to increase the productive life of the project by as much as 33%, the company said.
The company also plans to follow up on seismic work carried out in 2022 and 2023 at its 40 Mile project in Alberta which defined targets across multiple prospective zones with drilling, expected to kick off in the second half of 2024.
“With the Steveville helium processing facility online and building to capacity daily, we are pleased to be focused on determining the site for the next processing facilities,” Royal Helium CEO Andrew Davidson said in a statement.
“This is firmly the goal of all development work that will be completed in 2024. Given the drilling activities completed from 2021 to 2022, Royal is uniquely positioned to move from one facility to multiple in the short term."
Royal Helium is an exploration, production, and infrastructure company with a primary focus on the development and production of helium and associated gases.