First Helium Inc. plans to drill two wells at its Worsley property in Alberta, Canada. (Source: Shutterstock)
First Helium Inc. plans to drill two wells at its Worsley property in northern Alberta as it focuses on near-term cash flow opportunities.
The company intends to drill the two wells in succession to optimize drilling costs. It has also identified 10 more potential drilling sites to be evaluated based on the success of the first two.
First Helium’s operations in the Worsley Trend, where it holds more than 53,000 acres, include two wells targeting helium-enriched natural gas. The company is using cash flow from its oil wells to finance its plans to become a leading independent provider of helium gas.
Helium is used to produce semiconductor chips and operate magnetic resonance imaging equipment.
Recommended Reading
Uinta Railroad Up for Review as Supreme Court Term Begins
2024-10-03 - Court analysts say a decision on the proposed Uinta Basin railway, coming next year, could have a major impact on the energy industry.
Enterprise Opens Fuel Storage, Distribution Terminal in Utah
2024-10-29 - Enterprise Products Partners’ newly converted Texas Western Products system relies on old NGL pipeline networks.
Segrist: An Underground Battle Over Pipeline Safety Rules
2024-11-05 - A 13-year process comes between the federal government and the midstream industry grinds to a finish, at least for now.
Federal Regulators Give Venture Global Permission to Introduce Natural Gas Into LNG Plant
2024-11-06 - Federal regulators have given Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.