{"id":10516,"date":"2024-06-04T04:36:59","date_gmt":"2024-06-04T04:36:59","guid":{"rendered":"https:\/\/economicherald.net\/?p=10516"},"modified":"2024-06-04T04:36:59","modified_gmt":"2024-06-04T04:36:59","slug":"blue-star-confirms-significant-helium-discovery-at-galactica","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10516","title":{"rendered":"Blue Star confirms significant helium discovery at Galactica"},"content":{"rendered":"

Blue Star Helium confirms up to 1.9% helium content at State 16 SWSE 3054 development well
\nWell has flowed gas at a stabilised rate of 285Mcf\/d, consistent with gas flows at third-party Red Rocks project
\nCO2 concentrations of up to 70% could add to revenues
\nApplication made for a further five development well locations<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em> Blue Star Helium is progressing development of its Galactica project in Las Animas County, Colorado, after confirming that up to 1.9% helium is present within the State 16 SWSE 3054 well.<\/strong><\/p>\n

Galactica\/Pegasus is a large-scale project that has already been proved by\u00a0four exploration wells<\/strong><\/a>\u00a0that returned strong helium concentrations of 2-6.1% and flowed gas at rates of between 125-412,000 cubic feet per day during testing.<\/p>\n

Notably for Blue Star Helium (ASX:BNL)<\/strong><\/a>, the planned development of Galactica is further de-risked by the successful third-party commercialisation of the adjoining Red Rocks helium project.<\/p>\n

This led to the drilling of the State 16 SWSE 3054<\/strong><\/a> development well, drilled to a total depth of 1211ft and successfully intersected 96ft of high-quality gas-filled sandstone in the targeted upper Lyons production section.<\/p>\n

Helium<\/strong><\/a> is a rare gas, valued for its (often irreplaceable) use in semiconductor manufacturing, nuclear energy production, solar panels, optic fibre and the cooling of superconducting magnets in MRI scanning machines.<\/p>\n

This is reflected in its pricing \u2013 which could go anywhere for US$450-$3000 per thousand cubic feet (Mcf) on the spot market and between US$400 and US$500\/Mcf for longer-term contracts.<\/p>\n

\u00a0<\/p>\n

Proven gas flow<\/strong><\/h2>\n

State 16 SWSE 3054 has now flowed gas at rates as high as 313Mcf per day that has been stabilised at 285Mcf\/d, which is consistent with gas flows at Red Rocks.<\/p>\n

Laboratory analysis of reservoir gas samples show air-corrected helium concentrations of up to 1.9% \u2013 consistent with offset discovery wells.<\/p>\n

Additionally, the carbon dioxide concentrations approaching 70% could add further to revenues as clean CO2 can be used in food and beverages as well as chemical sectors.<\/p>\n

Results are being analysed by BNL\u2019s independent engineering consultants to model a maximum stabilised rate and drawdown for incorporation into development planning and economics.<\/p>\n

The company has also filed a new Oil & Gas Development Plan (OGDP) for five additional development wells, adding to the 11 potential sites already permitted \u2013 four of which are fully permitted for drilling.<\/p>\n

Progress is also being made on the permitting for a helium processing plant site.<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Blue Star Helium, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n

\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Blue Star confirms significant helium discovery at Galactica<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Blue Star Helium confirms up to 1.9% helium content at State 16 SWSE 3054 development well Well has flowed gas at a stabilised rate of [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10517,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nBlue Star confirms significant helium discovery at Galactica - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=10516\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blue Star confirms significant helium discovery at Galactica - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Blue Star Helium confirms up to 1.9% helium content at State 16 SWSE 3054 development well Well has flowed gas at a stabilised rate of [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=10516\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-04T04:36:59+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10516#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10516\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Blue Star confirms significant helium discovery at Galactica\",\"datePublished\":\"2024-06-04T04:36:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10516\"},\"wordCount\":447,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10516#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/BNL_helium-aXeiXI.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10516\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=10516\",\"name\":\"Blue Star confirms significant helium discovery at Galactica - 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