HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has reported successful flow testing and gas analysis at the Inez #1 well in the Rudyard Field Project, Montana.
It means that Inez #1 well now becomes the fourth producing well in the Rudyard project.
The well was perforated over a 55-foot interval within the Lower Souris and Red River formations at depths between 5,175 and 5,230 feet. Flow rates reached an absolute open flow estimate of 1,157 thousand cubic feet per day.
Testing returned helium concentrations of 1.2% with nitrogen making up most of the balance.
"The helium percentage recorded at Inez #1 is as high as observed from any of our wells, underscoring the strength of the system," said chief executive Bo Sears.
Sears added: "The Inez #1 well delivers another productive outcome for the Rudyard Field, adding additional volume to our plant and further validating the field's commercial potential.
"Importantly, this well was designed to maximize the science we can extract from Rudyard. By electing to test the deeper Lower Souris and Red River formation, we are gaining insight into helium concentration, flow characteristics, and pressure regimes that will help guide both future drilling and eventual 3D seismic across the field."
Helix will next perforate an upper reservoir in the well, Red River, whicch Sears describes as "geologically distinct", with the potential to deliver additional volumes.
"With every new well, we are broadening our knowledge of the field, expanding reserves, and reinforcing Rudyard as a cornerstone helium project," the Helix chief executive highlighted.