The Galactica helium project in Las Animas County, Colorado shows early return concentrations of helium (1.18%), carbon dioxide (85.93%) and nitrogen (12.89%), following Jackson 4 well flow tests and gas analysis.
The project is being developed under a joint venture with Blue Star Helium and Helium One Global. The former also announced the spudding of Jackson 29 SWNW 3054 development well yesterday.
Tent Spry, Blue Star Managing Director and CEO, said the gas resource findings at the southern edge of the project were in line with expectations and provide further evidence of the Lyons reservoir’s “deliverability”.
“The raw gas composition seen in the well … adds to our confidence in our understanding of the helium and CO2 system working in the area, allowing future targeted development wells,” he said.
The Galactica project is part of the broader Galactica-Pegasus development, discovered by Blue Star Helium in 2022, and the large-scale project offers multiple potential product streams. Blue Star Helium aims to start the project in the first half of 2025 and forecasts $2m per annum over five years.
The first report under the recently launched gasworld Riskwatch series shines the spotlight on helium supply and demand dynamics.
Source: Helium One Global
