Grand Gulf Energy's share price fell by over 30% following the results of the Jesse-2 appraisal well in SE Utah, which was a 1.5 mile step-out from the Jesse-1A well. Although helium concentrations of 0.7-0.9% were encountered, the well only flowed at a maximum rate of 30mcf/d, given low reservoir porosity. The well only encountered 23ft of net pay over a 192ft gas column compared to 101ft of net pay in the Jesse-1A exploration well. The Company is now preparing for the Jesse-3 well and assessing options for stimulation and remediation of Jesse-1A and Jesse-2 for future production.
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See AllIn Q1'24, Grand Gulf Energy (GGE) reported significant progress at the Red Helium Project, identifying three deeper reservoir targets which adds substantial helium prospectivity. On the corporate fron
Global Helium reported successful production testing of its 10-08 exploratory well in Southeast Alberta, yielding ~4.1mmcf/d of raw gas with helium concentrations between 0.6% and 0.68% after addressi
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