Helix Exploration (AIM:HEX), the AIM and OTCQB-listed US helium production and liquefaction company, spudded its Ollie #1 well at the Rudyard field on 14 September.
The well is intended as the fourth production well in the field's Northern Dome, joining Darwin #1, Linda #1 and Weil #1, all of which already produce commercial-grade helium into the site's gathering system and pressure swing adsorption (PSA) plant.
Ollie #1 sits roughly one mile north of Weil #1 and targets the same Souris River and Red River formations that underpin the existing well stock.
The well has an estimated total depth of about 5,500 feet, with drilling expected to take roughly 21 days ahead of wireline logging, extended flow testing and gas analysis.
Subject to those results, Helix plans to tie the well into the existing gathering system at Weil #1 and connect it to the PSA plant within current membrane capacity.
The company is also surveying additional well locations for its next drilling target once Ollie #1 is complete, and separately plans to expand throughput capacity.
"Having acquired our own drilling rig this summer, Helix now has full operational control over its field expansion programme," said chief executive Bo Sears.
A further announcement is expected upon completion of the Ollie #1 well.
News Intelligence what this means for the company
Helix spudded its fourth production well at Rudyard on 14 September, targeting the same formations as its three existing producers (Darwin #1, Linda #1, Weil #1) in the Northern Dome. The well extends a field expansion programme now under Helix's full operational control after acquiring its own drilling rig this summer; drilling is forecast to take ~21 days, with tie-in to the existing gathering system and PSA plant planned subject to results.
The fourth well is a direct extension of Rudyard's producing base, not a speculative test—it targets proven formations and will feed into existing infrastructure. Execution risk remains (drilling, testing, tie-in), but the company now owns its rig, removing a material cost and scheduling dependency that constrained earlier field development.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
