HeLIX Exploration PLC has completed road and drill pad construction at its Rudyard helium project in northern Montana, moving closer to appraisal drilling at the site.
The Treasure State Drilling Cardwell KB-150 rig is now in place, with work on the Darwin #1 well expected to start this week.
The plan is to evaluate an estimated 484,193 Mcf of helium, valued at over $250 million based on current market prices.
Located on a large geological structure known as a domal anticline, previous exploration in nearby areas has shown helium concentrations up to 1.3%.
HeLIX CEO Bo Sears said the Rudyard drilling follows recent successful operations at the company’s Ingomar Dome project.
"I would like to extend a warm welcome back to Treasure State Drilling, who executed an exemplary job during the drilling of Clink #1," Sears said.
"We anticipate a fruitful collaboration as we embark on this new phase and look forward to keeping the market updated on our progress."
HeLIX’s Rudyard holdings now span 6,674 acres after recent land acquisitions. With prior wells in the area confirming commercial helium flows, the project will explore reservoirs at depths between 5,000 and 5,500 feet, allowing for lower exploration costs.
Aeon Petroleum Consultants recently estimated the project's resources, noting high-potential zones that will be assessed in this upcoming drilling phase.
The Rudyard project, situated along Montana’s Sweet Grass Arch, benefits from developed infrastructure, including road, rail, and power access, which will support processing and potential commercialisation.