{"id":8352,"date":"2024-04-17T02:53:30","date_gmt":"2024-04-17T02:53:30","guid":{"rendered":"https:\/\/economicherald.net\/?p=8352"},"modified":"2024-04-17T02:53:30","modified_gmt":"2024-04-17T02:53:30","slug":"blue-star-on-track-to-spud-maiden-helium-development-well-at-galactica-pegasus","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8352","title":{"rendered":"Blue Star on track to spud maiden helium development well at Galactica\/Pegasus"},"content":{"rendered":"<p>The maiden helium development well at Blue Star\u2019s Galactica\/Pegasus project is on track for drilling in Q2 2024<br \/>\nProject potential already proved by four successful exploration wells<br \/>\nNeighbouring third-party helium producer further de-risks development<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Blue Star Helium is on track to drill the maiden helium development well at its Galactica\/Pegasus project in Las Animas County, Colorado, during this quarter.<\/strong><\/p>\n<p>Galactica\/Pegasus is a large-scale project that has already been proved by <a href=\"https:\/\/stockhead.com.au\/resources\/blue-stars-fourth-galactica-pegasus-well-returns-further-high-helium-concentration\/\"><strong>four exploration wells<\/strong><\/a> that returned strong helium concentrations of 2-6.1% and flowed gas at rates of between 125,000 and 412,000 cubic feet per day.<\/p>\n<p>These wells proved <a href=\"https:\/\/stockhead.com.au\/company\/blue-star-helium-bnl\/\"><strong>Blue Star Helium\u2019s (ASX:BNL)<\/strong><\/a> previous interpretations of gas on logs from the historical Denton B #1 and Colorado #B-1 wells.<\/p>\n<p>It is further de-risked by helium production and sales from the neighbouring third-party Red Rock project.<\/p>\n<p>There is also plenty of room for growth as the company already has 11 potential development well locations permitted with four currently fully permitted for drilling.<\/p>\n<p>\u00a0<\/p>\n<p>Planned development well locations at the Galactica\/Pegasus project. Pic: Blue Star Helium<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Development well spud on track<\/strong><\/h2>\n<p>BNL is all set to drill the first development well \u2013 State 16 SWSE 3054 \u2013 this quarter out of its existing cash reserves.<\/p>\n<p>It has inspected the well site location, secured land access and engaged the construction crew for pad and access upgrades, which is expected to start this week.<\/p>\n<p>Ongoing discussions with various parties have determined that there is potential to monetise the CO2 gas that flows from the reservoir in addition to the helium.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Voyager still on its journey<\/strong><\/h2>\n<p>Meanwhile, BNL is considering other commercialisation pathways for its Voyager helium project, which remains a substantial, high concentration, discovered helium resource.<\/p>\n<p>While the project was originally prioritised due to expectations that it would be the highest-returning project in its portfolio, analysis has revealed this is no longer the case.<\/p>\n<p>Remapping of Voyager will also be undertaken with data gathered during the recent drilling being incorporated into future models.<\/p>\n<p>The company will consider potential pressure leak points (faults or intrusive dykes) while also considering the top seal potential locally.<\/p>\n<p>This work is expected to uncover additional prospective areas on the greater structure for future drilling consideration.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Blue Star Helium, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/blue-star-on-track-to-spud-maiden-helium-development-well-at-galactica-pegasus\/\">Blue Star on track to spud maiden helium development well at Galactica\/Pegasus<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The maiden helium development well at Blue Star\u2019s Galactica\/Pegasus project is on track for drilling in Q2 2024 Project potential already proved by four successful <a href=\"https:\/\/economicherald.net\/?p=8352\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8353,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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