Helix Exploration PLC (AIM:HEX, OTCQB:HHEXF) has finished drilling its fourth production well, Inez #1, at the Rudyard Project in Montana’s helium-rich fairway.
The well reached a depth of 6,510 feet (1,985 metres) in 19 days and revealed significant helium gas shows, with concentrations up to 948 parts per million, almost 200 times background levels.
This marks the first drilling in the southern part of the Rudyard dome, a large underground geological structure known to contain helium.
Previous wells, including Linda #1 nearby, tested helium concentrations around 1.2% and flow rates of 3,800 thousand cubic feet per day, underlining the commercial potential.
Helix’s chief executive, Bo Sears, said Inez #1 confirms helium-bearing zones extend across a broader area than previously understood, improving the company’s view of the field’s scale and value.
The well’s drilling stopped in the Pre-Cambrian basement rock, allowing evaluation of deeper layers for further helium reserves.
Next steps include wireline logging, a technique that collects detailed data from inside the well, and flow testing to measure the helium concentration and extraction rates.
Positive results could expand Helix’s proven reserves and reduce the risks associated with the Rudyard field.
With drilling complete, the company will soon deploy testing equipment to determine the well’s production capabilities and strengthen its position in Montana’s emerging helium sector.