Blue Star Helium’s Galactica project will add three more wells in the second half of 2026 and six more in 2027 as it ramps up towards full plant capacity.
The Colorado project, a joint venture with Helium One Global, recorded and .
In a presentation, Trent Spry, Managing Director and CEO, said, “We have six wells on production at the moment, and the first sales under offtake started in July – deliberately short term, in this current helium market, and we will continue to balance pricing and longer term contracts. There’s a lot of interest as you can imagine in CO2 offtake given what’s happening with the supply chain globally.”
To that end, CO2 infrastructure has been completed at Galactica, and Blue Star is deepening existing wells.
“CO2 liquefaction and sales will follow, and Pegasus appraisal development planning will see a significant move forward towards the end of the year. First development wells are planned from 2027,” he added.
The tie-in of the Jackson 27 well, which has CO2 levels of around 98.3%, is planned to coincide with the start of CO2 sales.
High-grade CO2 has also been discovered at Serenity [southern end of Galactica/Pegasus], with up to 20 further locations identified.
The Pinon Canyon plant is associated with the Galactica project.
“We’re drilling into proven rock, we know the operating model now and learnt a lot over the last six months,” added Spry. “It’s attractive economics with $13 Mcf opex for output gas.”
Corporately, he added that Blue Star Helium has $5m cash in the bank with no debt, and revenue now coming in from Galactica.
