Blue Star nabs approval to drill four more US helium wells
Special Report: Blue Star Helium has secured regulatory approval to drill four additional wells at its maiden Voyager helium development in Colorado, USA.
The project is just six miles from the historical Model Dome field in Las Animas Country, Colorado, which hosts amongst the top three highest helium concentrations in the world.
The ultimate goal of bringing the project into production would make Blue Star Helium (ASX:BNL) one of the first ASX-listed primary helium plays to enter production, allowing it to tap into high helium prices due to a critical lack of supply.
The Colorado Energy & Carbon Management Commission (ECMC) has now approved the Forms 2 relating to four proposed helium development wells – Daniel 08 SWNE, Bolling 04 NWSE, Bolling 09 NWNW and Bolling 04 SESW 3.
These additional four wells mean the company now has a robust inventory of six wells approved for drilling, giving BNL flexibility to optimise early drilling of the discovered resource at Voyager and to expand its initial Voyager development well drilling program early in Q1 2024.
It is expected Voyager will ultimately utilise a 20-well development inventory to maximise the contingent resource.
“The team has worked hand in hand with the ECMC to achieve final approval in quick time to have approvals in hand to drill four additional wells at Voyager ahead of expectation,” BNL managing director and CEO Trent Spry said.
“This timely approval gives us the flexibility to expand and optimise drilling at Voyager.
“I am looking forward to being in the field to oversee the drilling.
“It is an exciting time for Blue Star as we await the results of production drilling ahead of commissioning of our first helium production facility operated by IACX.”
IACX Energy is the premier provider of helium extraction for natural gas applications across the US.
This article was developed in collaboration with Blue Star Helium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.