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4 min ago 2 min read
Helium exploration company Quantum Helium (Quantum) has expanded its helium exploration pipeline in southwest Colorado after identifying five new drilling prospects, including two wells that could be drilled within the next 12 months.
Subject to permitting and operational priorities, the company says the two lower-risk wells could advance to drilling within the next year, marking the next phase of its exploration programme.
The news follows Quantum completing its geological and geophysical evaluation programme across its Colorado acreage, which the company says confirmed the integrity of the known helium resources across its Sagebrush and Coyote Wash projects.
With its evaluation across southwest Colorado, Quantum says its acreage warrants a multi-year exploration and development portfolio rather than two standalone projects.
The programme included high-resolution 3D seismic acquisition, evaluated historic seismic data, historic drilling, wireline logs, and production data.
The results support Quantum’s long-term strategy of expanding drilling opportunities while progressing commercial development of its Sagebrush Project.
Howard McLaughlin, CEO of Quantum, said the goal of the evaluation was to improve the company’s understanding of the basin and identify the next generation of drilling opportunities.
In June, the company gas samples with helium concentrations of around 2.5% and demonstrated reservoir connectivity at its Sagebrush-1 well.
Quantum says its Sagebrush and Coyote Wash projects contain a combined independently certified 2U gross helium resource of 1.104 billion cubic feet (bcf).
The company holds a 90% working interest in Sagebrush and 100% working interest in Coyote Wash.
