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7 min ago 2 min read
Helium exploration company Quantum Helium (Quantum) has recovered gas samples with helium concentrations of around 2.5% and demonstrated reservoir connectivity at its Sagebrush-1 well, targeting the Leadville Formation in southwest Colorado.
Through an ongoing , Quantum has confirmed helium concentrations close to historical data of 2.76%.
The company said the recovered gas samples contained helium concentrations that are “significantly above” typical commercial helium concentrations, which Quantum says range from 0.3% to 1.0%.
Quantum’s next phase of operations includes additional perforations, reservoir clean-up activities, and further production testing aimed at establishing sustained gas flow rates to assess the commercial potential of the Leadville Formation.
Howard McLaughlin, CEO of Quantum Helium, said, “We look forward to conducting a detailed review of the data to help guide the future development strategy for both helium and oil across Sagebrush and the wider portfolio.”
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.
The Sagebrush Project involves helium production testing alongside oil production, which produces up to 40 barrels of oil per day across seven wells.
