Helix Exploration Wraps Up Drilling at Linda #1 Well in Montana

 

Helix Exploration PLC (LSE:HEX) has successfully finished drilling operations at its Linda #1 well, part of the Rudyard Project in Montana. This marks the third production well drilled by the company in the region. The well was drilled to a final depth of 5,398 feet, with promising helium gas indicators and noteworthy oil shows observed across multiple geological layers. These findings suggest the potential for expanding Helix’s helium resources in the Rudyard Field, with oil discoveries possibly contributing additional revenue streams. The company is preparing to carry out wireline logging and flow testing, with initial helium production anticipated in summer 2025.

Company Overview: Helix Exploration PLC

Helix Exploration specializes in the identification and development of helium resources within the ‘Montana Helium Fairway’. The company was established by a team of seasoned industry professionals and made its public debut on the London Stock Exchange in April 2024, successfully raising £7.5 million. With full funding in place, Helix is advancing toward production, utilizing existing infrastructure and cost-efficient processing methods to aim for first gas output in 2025.

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• Technical Outlook: Strong Buy

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