Helix Exploration PLC (AIM:HEX) has started drilling the Darwin-1 well at its Rudyard project, in Montana.
The drill operation is targeting ‘stacked’ reservoir structures within the Souris River and Dry Creek intervals, both of which are known for their helium potential.
Previous tests in this area have returned helium values as high as 1.3%. Estimates have pitched the P50 Gross Contingent Resources at 484,193 Mcf within the Souris and Red River zones.
Drilling is expected to last around two to three weeks. Helix intends to conduct wireline logging and, subject to results, undertake extended flow testing.
The Darwin well may also be cased for production, to allow further testing in the future.
It is one target in a portfolio focused on helium exploration and development across the ‘Montana Helium Fairway,’.
Helix holds 52 leases in this ‘fairway’, including the Ingomar Dome project.
Drilling at Darwin is part of the company’s development timeline which aims to deliver first helium production before the fourth quarter of next year.