Blue Star adding more wells to its development to-do list
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Blue Star continues to build up its list of helium development well locations with another two proposed wells moved to the final review and hearing phase.
This follows the Colorado Oil and Gas Conservation Commission passing the BBB 2860 Oil and Gas Development Plan for wells BBB 33 and BBB 34 in the Voyager project as complete.
These proposed wells offset the BBB#1 discovery well which had intersected a 134ft (40.8m) gas column and flowed gas containing 8.8% helium to surface, allowing Blue Star Helium (ASX:BNL) to certify a best estimate Contingent resource of 643 million standard cubic feet.
Voyager’s low-cost phase development is expected to deliver first cash-flow for the company.
Meanwhile, hearings have been set for three new development at the Galactica/Pegasus project.
These are to be drilled as offset development wells to the JXSN#1 and JXSN#2 helium discoveries made earlier this year.
Galactica/Pegasus is expected to follow Voyager as the company’s next helium development.
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.