Helium Evolution’s Farmout Well encounters Helium and is Proceeding with Completion and Testing
Oil and gas company Helium Evolution has successfully encountered and drilled deep into a helium-bearing reservoir in their Texas-located Farmout well, and are now proceeding with completion and testing of the reservoir. The fracture stimulation operation for the Farmout-2 well was completed in late October, and is revealing unusually positive results of helium, nitrogen and carbon dioxide concentrations in the nearby fracture intervals.
Although the literature on helium extraction from oil and gas fields is limited, Helium Evolution’s team has continued to successfully high-grade the well for completion. To date, the team has completed drilling for depths of up to 3,700 feet, with signals for helium gases at the deeper formation levels.
Helium is a scarce and highly coveted natural resource prized for its low density and wide range of industrial and medical uses. The newly discovered helium-bearing reservoir is a promising find, and as such the Helium Evolution team is working to ensure a successful completion and testing phase.
To this end, the team will implement and monitor a targeted series of tests to evaluate the extent of the reservoir, which will include a comprehensive series of permeability, reservoir pressure, and production tests. The results from the tests will be used to determine the technical characteristics of the reservoir, ultimately leading to an optimized field development plan.
Global demand for helium sources continues to grow exponentially, and the news of a successful recovery of the gas from Helium Evolution’s Farmout-2 well indicates the potential for additional, long-term helium extraction opportunities. For now, the team continues to conduct completion and testing assessments, and with any luck, the field will prove to be an abundant resource.