Helix Exploration has reported significant helium discoveries within the ‘Montana Helium Fairway’. The company said it had identified elevated helium levels in two key formations during its ongoing drilling operations.
While drilling the Amsden formation at a depth of 3,885 feet, Helix detected helium concentrations an astounding 50 times above background levels. This discovery, coupled with low gamma readings, suggests the presence of a clean reservoir teeming with helium.
As Helix’s Clink #1 well went deeper into the Charles Formation, multiple gas shows from 4,860 feet downwards revealed helium concentrations at a bumper 130 times above the background level.
The company, however, has warned that high levels of helium do not automatically constitute an economically viable resource, and further evaluation is required.
As drilling continues, Helix Exploration remains focused on reaching its primary target in the Flathead Formation, approximately 7,410 feet below the surface. With a planned total depth of around 8,000 feet, the company reports that operations are progressing smoothly and on schedule.
When the drilling is complete, Helix will progress to wireline logging to evaluate the project further before a discovery can be confirmed.
Helium is used in a wide range of industrial and medical applications and has experienced shortages in recent years, although there have been reports the supply shortage has rectified itself through 2024.