Helix Exploration, the helium exploration and development company focused on large scale and low risk helium deposits within the 'Montana Helium Fairway', is pleased to announce it has signed an agreement with Petroleum Consultants, LLC ("Petroleum Consultants").
Petroleum Consultants management team, which includes three Professionally Licensed Petroleum Engineers, leverages over 40 years' combined experience in hydrocarbon exploration and development. Services provided to over 50 clients include engineering, project management, wellsite supervision, land and regulatory assistance, accounting and administrative offerings.
The Company's selection was based on Petroleum Consultants extensive operational experience within Montana and across the United States, particularly in managing exploration activities throughout the Rocky Mountains region. The execution of this contract marks the initiation of the Company's Phase 1 Work Programme and first steps towards the delivery of a safe and successful drilling campaign in Q3 2024.
Bo Sears, CEO of Helix Exploration, said:
"We are pleased to announce the commencement of our appraisal well programme through a strategic partnership with Petroleum Consultants, headquartered in Billings, Montana. This collaboration entails comprehensive drilling engineering services encompassing well design, completion design, flow-testing procedures, and overall wellsite supervision. Leveraging their extensive experience in the State of Montana and across the broader Rocky Mountain regions, Petroleum Consultants will play a vital role in optimising our drilling and testing processes.
"The company is committed to delivering an aggressive operational timeline with drilling targeted for Q3 of this year. Helix are dedicated to providing regular updates to our stakeholders as the Project unfolds, including the finalisation of a drilling contract with a rig supplier."
Rig Contract Selection
Helix successfully raised £7.5m in funding through its oversubscribed Initial Public Offering (IPO) in early April 2024, ensuring it is fully funded for the contracting of a drilling rig for the Ingomar Dome appraisal drilling. As such, the Company has exchanged a draft drilling contract with its preferred supplier and anticipates executing the agreement within the coming weeks.
The Directors of the Company take full responsibility for the accuracy of this announcement.