Grand Gulf counting down the days to Jesse#1A flow testing
Grand Gulf will soon have a firm idea about whether it has made a commercial helium discovery with flow testing of its Jesse#1A exploration well expected to start within weeks.
The company has scheduled for a workover rig to flow test several individual zones within the wellbore using packer isolation.
Grand Gulf Energy (ASX:GGE) noted that this drill stem testing will enable it to determine gas flow rates, obtain representative raw gas samples and ascertain helium concentrations.
The well had recorded helium concentrations of about 0.65% and a bottomhole pressure of 2,280psi – consistent with regional virgin pressure modelling and initial reservoir pressures at the nearby Doe Canyon Helium Field.
Information gained from this work will be used to further characterise the reservoir and optimise production from Jesse#1A and future Red Helium project wells.
The company expects to drill the next well later in the current quarter or next quarter.
It recently increased its stake in the Red Helium project from 55% to 70% after meeting earn-in requirements for the first well.
This article was developed in collaboration with Grand Gulf Energy, 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.