How’s the Serenity? Blue Star’s maiden helium well is all set to spud

Blue Star Helium is a big step closer to tearing the top off its maiden helium drill at Serenity

It’s spud time for one Aussie helium explorer, after it received notice that the well pad on its maiden Serenity Project well site is done and drilling is set to move forward next week.

Blue Star Helium (ASX:BNL) says construction of Sammons 315310C well pad at the Sammons Area of Mutual Interest (AMI) – which is home to its Serenity Project – has been completed by Vecta Oil & Gas, and spudding is imminent.

It’s an exciting time for Blue Star, which has been steadily working towards this target in the Lyons Formation, set to drill updip of a historical well that previously intersected gas (interpreted on logs) in both the upper and lower formation.

The Sammons 315310C well is one of four approved helium wells located in the AMI agreed between Blue Star (50%, non-operated interest), Prospero Oil and Gas LLC (25%, non-operated interest) and Vecta Oil & Gas Ltd (25%, operated interest).

Permission slips cop a slight delay

As Blue Star gears up to start drilling at Sammons, immediately to the north of that project at Blue Star’s Galactica and Pegasus projects, where the Company recently had discoveries, progress of permitting follow up development wells has been pushed back a few weeks.

The Colorado Oil and Gas Conservation Commission (COGCC) hearing to approve the applications for the Oil and Gas Development Plans relating to four helium wells at Galactica and Pegasus has been deferred to 10 August 2022.

Those wells that the COGCC is looking into are just four of a total of 29 helium exploration well locations at Galactica and Pegasus that are currently in the permitting pipeline.

This story was developed in collaboration with Blue Star Helium, a Stockhead advertiser at the time of publishing.

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.