US Energy Corp. has completed its drilling operations and confirmed results of high-quality, non-hydrocarbon-based helium at its newly acquired assets in Montana.
The company has reported helium concentrations up to 1.5%. Helium was identified in multiple zones, with the highest concentrations found in nitrogen-based, non-hydrocarbon formations.
Additional helium was also discovered in non-hydrocarbon, CO2-based formations.
Ryan Smith, CEO of US Energy Corp., described the news as a significant milestone in the company’s industrial gas strategy around its assets in the US state.
“The independent analysis not only validates our geologic model and the high potential of the asset but also enables us to move forward confidently toward full-cycle programme completion, expected in 2025.”
He continued, “The expertise of our newly expanded operational team, with extensive experience in similar projects, was evident throughout, resulting in efficient, on-target, and under budget drilling operations.”
US Energy Corp. acquired its initial industrial gas assets in June 2024. The company started drilling its first well in early October 2024 and completed operations within three weeks.
Read more: US Energy Corp acquires Montana acreage for helium production
For the remainder of the year, US Energy Corp. will conduct extended flow tests across multiple zones to deepen its analysis and further validate the economic viability of this multi-zone resource.
Plans are in place to drill multiple additional wells, with development set to begin in the first quarter of 2025.
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