Helium Evolution, a Canadian energy company focused on acquiring and developing helium assets, has announced the success of its second joint helium completion and testing well. In a press release on Tuesday, the company said that this milestone marks another step toward bringing new helium production to North America.
Helium Evolution is working in partnership with K2 Resources, an oil and gas company. The two have been working together since 2018 to develop a new helium production business, with their joint venture holding several helium leases in the state of Wyoming. This latest accomplishment confirms the presence of high quality helium in the formation and marks the beginning of a new stage of development for the field.
The new well was drilled to a depth of 4,225 feet and encountered over 4,400 feet of net pay in the Wind River Basin, one of the best helium development areas in North America. This marks the second joint well completed and tested this year, and Helium Evolution plans to continue to develop additional wells.
The successful completion and testing of the new well further demonstrates the strength of the partnership between Helium Evolution and K2 Resources, as well as the viability of helium production in the area. With helium demand continuing to rise and production beginning to decline in some parts of the world, this makes North America a critical component of future helium supply.
The completed well was tested using state-of-the-art downhole sampling and measurement technology, and the results were highly encouraging. The well is expected to be placed into production in the near future, with loadout and sale to customers already underway.
Helium Evolution is thrilled with this accomplishment and is looking forward to bringing new helium production to North America. With the successful completion and testing of the two joint wells, they are one step closer to achieving their goal.
