Helix Exploration PLC Encounters Helium and Hydrogen at Ingomar Dome Project
Key Ideas
- Helix Exploration PLC's Clink #1 well at the Ingomar Dome project shows significant presence of helium and hydrogen gas in various formations.
- Well reached target depth but paused due to wellbore stability issues, requiring mobilization of a new rig for intermediate casing.
- CEO Bo Sears remains optimistic, stating the delay is frustrating but results from the well are positive, confirming the presence of helium and hydrogen.
- The discovery of hydrogen in deeper sandstones at increasing grades suggests further potential in the project.
Helix Exploration PLC has reported promising findings at the Ingomar Dome project, specifically at the Clink #1 well site. The well has encountered substantial shows of helium and hydrogen gas across different formations. Despite reaching the target depth, operations were halted due to wellbore stability concerns. Helix plans to address this by deploying a new rig for setting intermediate casing, with the process expected to take approximately a month. CEO Bo Sears expressed confidence in the project's funding and highlighted the positive outcomes from the well so far, emphasizing the presence of helium in target reservoirs. Additionally, the discovery of geological hydrogen in the deeper sandstones, with increasing grades towards Total Depth, indicates further potential for the project. While the delay is seen as a setback, the overall sentiment remains optimistic about the exploration and appraisal efforts at the Ingomar Dome site.